Don’t think they won’t claw back retiree benefits too. This is not going to end well.
Don’t worry as JF will get his $20M exit cache.
4 replies (most recent on top)
Ford converting retiree health care over from providing actual health insurance to funding an HRA was brilliant. Many people can save more money by utilizing the Premium Tax Credits and declining the Ford funded HRA. After the HRA is declined, guess who pockets the money? So many of my retired colleagues have no idea how the HRA works. The Premium Tax Credits and income limits keep going up, while the Ford funded HRA amount will never increase, and will likely decrease.
The company cannot claw back the lump sum payment once it is distributed. The company could stop offering it. I retired after age 62,… never received SS supplemental pay. HRA. If your income in retirement is low enough the tax payers may pay more than the HRA. Hence Ford gets off the hook. also you no longer get BCBS. Unless you want to pay big,
Retiree benefits were already clawed back! Retirees benefits are always the first to get cut!
Could they take away retiree supplemental pay and HRA dollars? Then what?
What about the lump sum, could they claw that back or freeze your 401k?