Thread regarding Ford layoffs

I will try to get SIRP'd next round. Start using phrases like "stop othering me!" "My supervisor is not being inclusive of workers over 50!"

If you type a number and a period, it inserts a space. I've seen this in the last 3 people's post, mine included. Mine dropped over 24%

24. 5% drop for me. I am leaving.

I’m under 55 so I’m totally screwed

Ford will freeze the pension plan. This is the next step to save the company $3 per year.

People who only see 1-3% drop in your lump sum probably aren’t using the projection tool correctly to get the different rates …..just sayin’…..check your inputs…..

My projected lump sum is down 33% if I start receiving benefits in Jan 2023 vs. October 1 2022.

I’m just under 50 so not much I can do but ride it out and hope they don’t freeze GRP…I was just curious how it would affect my projection.

But I’m pretty sure they will freeze it before it can recover. So I’m one the people who will get screwed.

Thanks Farley.

That was fast. Here is the like to the IRS pension rates. Quite a increase.

https://www.irs.gov/retirement-plans/minimum-present-value-segment-rates

If you are not going to be 55 this year your have 2 options. Do a 72t conversation or go to work for a company that will accept 401k roll overs then retire from that company once you turn 55.

The 8k was bogus. It will end up being 18k!!

I took the package last year. But I look at my former coworkers left under the GRP. You are gambling and the house (FARLEY) is holding all the cards. Three key risks here

1. Interest rates go down in 2-3 years
2. They freeze the pension
3. You have a job in that 36-month period

You need to ask yourself can i afford to stay on? If you think JF will answer the question about a pension freeze I can tell you by watching him speak. He will tell you that they evaluate things on a quarterly review. Code word for FREEZE. For those at Ford still under the GRP. When was the last time the company ever sent out an email like this? Answer NEVER. Only reason is to one get people to leave now. Two notify you in case they do freeze it they can come back and say we told you so.
Despite his "HYPE" or legend in his own mind JF is not to be trusted. Look what happened to the HC to those who took the package last year? They sent out a letter to our homes to let us know one week after the last day to tell us that ford will no longer purchase your HC. You go on exchange. yes, they give you a voucher. So why did JF not come out and say anything before the packages? Simple. "COWARD".
As for his comments about that 8k number being bogus. no JF you are bogus. you know you will make that up because Joe Biden gave you a present called high interest rates. people have to leave. So, he lied again...
That is the man running the company. he showed his true nature last February with that press conference with the investors. came right out of his mouth about how he felt about you as an employee. To old and cannot be trained. Those are his words. I wander if that applies to JF as well? His track record is not so bright & shinning.

Some of us can't take the lump since we're not 55. We just have to hope.

19. 1% reduction in my case. I'm definitely taking the money. I will not give this company two years of my life for free!!

200k-300k drop is like working for free for two years! If you don't take the lump sum now you're Stoopid!!!

My calculator showed -23.7% reduction in lump sum with announced August segment rates. I'm going now and not risking getting fired in January, or risk the GRP getting converted to the 401K at the lower amount...

18. 3% drop for me

Ouch, any more updates on freezing the pensions Jan 2023? If they freeze the pension then you can't make this up. For those taking the Lump Sum, how can you justify to stay with a $200k-$300k cut in your retirement.