Batch of May 13, if you signed the severence package, how long ford takes to give out the lumpsum. Did any of you already got it disbursed?
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Wondering the same here because I was just let go.
And every week that you receive a severance payment you can’t collect unemployment. Almost like it’s designed that way….
@ac Sorry i wasn’t clear, i mean't the severance, X months of payout based on years of service.
How long does it take to get it?
Of which, sev, 401k or pension?
45 days.. in Aug 2022 when we got retired, it was 45days from Sept 1...
Part of your lump sum might be contributory so that can go into a Roth IRA... The pensions lump sum can go into an IRA. You can only get one of these sent to a financial institution and the other will come by mail.. Why is beyond me..
Unless you are 59.5, don't empty your 401K as it has special withdrawal rules that allow no penalties if you retired in the year your turn 55 or higher. Look up rule of 55.
If you are not 55 you can use a 72t to get at your ira funds but lots of rules.
I haven't received anything yet. They speaded out the payments into multiple chunks. My severance package is less than take out from my 401k. It talk about the company, principles and morals. Check the site today, with a big hatred to Ford. Hatred for everything they do and people they called leaders.