Did any Nov 2022 retirees recently get this?

November 2022 retiree here. Took the lump sum.
Just a few days ago I got a latter from Ford about pension benefits, stating the amount of monthly benefit should I take it, or the amount of lump sum should I take it. The lump sum stated was 23% less than what I took in November and received in January.

It really hits home, the impact of the decision. “Working for free” for 1.33 years certainly had no appeal for me. I had 23 years and had hired in 1999, and was over 55.

It’s almost like they think I am still employed! Maybe I have a phantom pension remaining.

For those faced with the decision this year, this is worth serious consideration.

With a potential 10% further cut in lump sum if one retires after this November 30, Those lump sum numbers are not going to recover for 3-5 years.

Monthly benefit is not affected.

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OP here….. reading the letter again… from secure mailbox..
It was describing my SSIP balance…. Which I’m letting continue for now with fidelity thru SSIP. Eventually I will roll over and out of there.
It was an headsup if I decided to annuitize, and the resulting monthly benefit.

Go ahead and sign up for the second lump sum they're presumably offering you. Maybe there was a lump sum BOGO we weren't aware of.

OP here…. I too planned to work another three years. Was proud to have been part of ICE/gas/diesel engineering all 23 years.when I saw who was leaving it made me realize the decision was right. I felt bad leaving behind our team and our chief who stayed and moved up. All great guys.

The way JF threw us under the bus in February 2022 and September 2022 was too much.

Yesterday’s news had JF “talking up hybrids as a way to compete and stand out from the EV crowd”. Takes a shot at the Chevy bolt, which is something Ford should have in its lineup (smaller affordable BEV).

“Talking up hybrids” now is 1.5 years too later after ICE engineers were unceremoniously cut or got wise and ran with the lump sum.

After all, hybrids are attached to an ICE. Maybe he didn’t realize that.

I was forced retired last august and it was for the best at this point. I planned on working another 3 years but the lump sum would not have recovered from the 25% drop by then. Stress was way too high dealing on a daily basis with supplier and ford plant sc--w ups. Farley gutted ICE engineering and now looks like his EV wet dream is crashing. He will be gone by next year.

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Did any Nov 2022 retirees recently get this?

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