How many out there have 30 years or more and are ready to retire November 30th? I believe this will remove more then the layoffs did. Wish they would have done volunteer at this point.
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According to a LL4, it is expected that 40% of LL's will retire this year. She said that aher Dept. meeting to her spvrs. Many of those LL's will be 55+ years old with at least 25+ years in service. According to her, some LL's already submitted paperwork to HR. All of them are expected to claim the Lump Sum.
If you have 30+ years , but want to work a few more years, why wouldn't you take the retirement and go work someplace else?
I retired last year. Six months in the had was worth nine months maybe later.
25% approximately
Does anyone know what the percentage cut to the lump sum will be "approximately" if you choose to retire in January 2023 compared to November 2022?
Lump sum is a better option if you know how to invest properly. Run your numbers to check and this option is a clear winner. So seriously consider leaving by Nov 30th, 2022 if you like this option. Not worth working for free for 2-3 years or even longer to break even.
30+ but hoping the work environment will improve and I'll find some satisfaction in working a few more years. Planning to take the annuity and yes, I know the sky is falling and when Ford goes bankrupt, I'll get pennies on the dollar for my pension ... which is total BS. Also realize I could get SIRPd at any moment, but I'm fine (mentally and financially) with that if it happens.
I didn’t have 30 years yet, but was SIRP’ed in August. I would have left regardless of not reaching 30 years because of the interest rate increases. I also did not see a significant increase in any future years.
I have high 20s, will not make 30, but I want a severance package to go. Running out of time. Either way I have to go by Nov 30th.
The good news is the employees are “in charge” this time on who and how many leave each organization and department. I hope so many people that are retirement eligible leave with all their experience and knowledge and all at once that it brings LL management (notice I didn’t say leaders) to their knees. It would be nice to see the LL management team that made the reduction decisions in the past get impacted negatively this time. Good luck!
I will reach 65 in October, was 2 years at Ford and they let me go. Lost over 20K in the 401K SSIP contributions because I was one year short of the 3 year all or nothing vesting. I only get one month severance and therefore am looking for contract work, the only thing i'll be able to get probably. That's my "retirement" story.
I retired May 1st and got a SIRP package as well. No regrets.
I am one of them. Planned it since that week in February during the bonus debacle. The excuse / JF Comments about older employees. Interest rates were also a consideration. don't want to leave money on the table for their bonuses.