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Ford Offers Retirees A Bag Of Cash To Go Away

Forbes -- Ford Motor said Friday it will offer 90,000 of its retired engineers and office workers the option to accept a lump sum payment now and to forgo their regular monthly pension checks for the rest of their lives.

The voluntary pension buyout for U.S. salaried retirees and former employees is an effort by Ford to improve its balance sheet by reducing its massive $74 billion worldwide pension obligation. The company called it the largest pension buyout offer in history.

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Submitted Apr 28, 2012 By: Mudsprings

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lsb1955 Champion Author Salt Lake City Posts:2,013 Points:516,645 Joined:Aug 2011	Message Posted: Apr 28, 2012 8:52:28 AM Ignore lsb1955 Report Abuse take the cash
sciotosix Champion Author Dayton Posts:2,734 Points:663,200 Joined:Apr 2011	Message Posted: Apr 28, 2012 8:52:23 AM Ignore sciotosix Report Abuse If the retirees don't take the option, Ford will end up reducing their pension, anyway.
eswi Champion Author Madison Posts:2,530 Points:680,455 Joined:Mar 2009	Message Posted: Apr 28, 2012 8:51:40 AM Ignore eswi Report Abuse OK
Paw5X Champion Author Gary Posts:9,888 Points:2,265,255 Joined:May 2005	Message Posted: Apr 28, 2012 8:51:39 AM Ignore Paw5X Report Abuse Invest wisely!!!
Rancher23 Champion Author Cincinnati Posts:3,178 Points:656,420 Joined:May 2011	Message Posted: Apr 28, 2012 8:51:01 AM Ignore Rancher23 Report Abuse Whatever!!
run4gxc Champion Author Ohio Posts:2,721 Points:610,325 Joined:May 2011	Message Posted: Apr 28, 2012 8:48:58 AM Ignore run4gxc Report Abuse ok
qwerty17 Champion Author New Jersey Posts:3,640 Points:1,114,975 Joined:Oct 2009	Message Posted: Apr 28, 2012 8:48:54 AM Ignore qwerty17 Report Abuse can i walk away from them?
jmdk721 Champion Author Missouri Posts:1,184 Points:572,330 Joined:Jul 2011	Message Posted: Apr 28, 2012 8:48:31 AM Ignore jmdk721 Report Abuse ok
danandmary Champion Author California Posts:4,178 Points:964,800 Joined:Jun 2010	Message Posted: Apr 28, 2012 8:48:21 AM Ignore danandmary Report Abuse More money to the "non-producers," more drag on the economy.
bozo Champion Author Boston Posts:4,690 Points:2,091,630 Joined:Feb 2003	Message Posted: Apr 28, 2012 8:48:10 AM Ignore bozo Report Abuse f you can't do the math, hire someone who can.
drawee Champion Author Texas Posts:2,290 Points:445,135 Joined:Feb 2012	Message Posted: Apr 28, 2012 8:47:57 AM Ignore drawee Report Abuse k
SUPPER Champion Author San Bernardino Posts:2,462 Points:1,285,695 Joined:Dec 2004	Message Posted: Apr 28, 2012 8:47:28 AM Ignore SUPPER Report Abuse They should of think about it b.f.
neptune2008 Champion Author Michigan Posts:8,558 Points:1,666,800 Joined:Aug 2008	Message Posted: Apr 28, 2012 8:47:19 AM Ignore neptune2008 Report Abuse TAKE the money and R U N !!! fast
wilbur_gas Champion Author Los Angeles Posts:1,702 Points:644,860 Joined:Mar 2011	Message Posted: Apr 28, 2012 8:46:27 AM Ignore wilbur_gas Report Abuse Bad Idea unless you have a terminal illness.
HockeyLady Champion Author New Jersey Posts:5,568 Points:2,105,520 Joined:Jun 2005	Message Posted: Apr 28, 2012 8:44:50 AM Ignore HockeyLady Report Abuse not a good idea--more $$ will be lost to taxes by taking a lump sum. Talk to an attorney/accountant before saying "yes'
DYSKYPILOT Champion Author Fort Worth Posts:2,887 Points:622,780 Joined:Mar 2006	Message Posted: Apr 28, 2012 8:44:30 AM Ignore DYSKYPILOT Report Abuse Take the money and run.
SSchmidty Champion Author Illinois Posts:9,333 Points:1,774,280 Joined:Mar 2008	Message Posted: Apr 28, 2012 8:44:18 AM Ignore SSchmidty Report Abuse Hmmm .... tempting if at chronilogical retirement age
2khawk Champion Author Iowa Posts:5,244 Points:925,100 Joined:Oct 2010	Message Posted: Apr 28, 2012 8:44:10 AM Ignore 2khawk Report Abuse Why didn't they think about this years ago when negotiating with the UAW?
Beauff Champion Author Cleveland Posts:1,211 Points:603,435 Joined:Sep 2008	Message Posted: Apr 28, 2012 8:43:14 AM Ignore Beauff Report Abuse No!!
blupupher Champion Author Houston Posts:3,534 Points:745,720 Joined:Feb 2011	Message Posted: Apr 28, 2012 8:42:21 AM Ignore blupupher Report Abuse they need to get rid of the unions.
gmcgas Champion Author Atlanta Posts:5,937 Points:1,711,145 Joined:Mar 2004	Message Posted: Apr 28, 2012 8:42:03 AM Ignore gmcgas Report Abuse after seeing what happened to friens at a company that i worked at, i would take the money and run.
mediccoy Champion Author North Carolina Posts:11,896 Points:2,309,155 Joined:May 2006	Message Posted: Apr 28, 2012 8:41:58 AM Ignore mediccoy Report Abuse Ford will make a haul on this offer.
cutter1330 Champion Author Oklahoma Posts:8,025 Points:1,691,415 Joined:Jul 2005	Message Posted: Apr 28, 2012 8:41:37 AM Ignore cutter1330 Report Abuse It's a roll of the dice......how long ya gonna live.
mh44s Champion Author Madison Posts:4,374 Points:1,687,040 Joined:May 2006	Message Posted: Apr 28, 2012 8:39:34 AM Ignore mh44s Report Abuse If they take the buy out, they will have to make it last.
nwhawk Champion Author Kansas Posts:1,957 Points:570,715 Joined:Nov 2010	Message Posted: Apr 28, 2012 8:39:17 AM Ignore nwhawk Report Abuse Unions will put a clamp on this..
racerdj Champion Author Indianapolis Posts:9,800 Points:2,053,650 Joined:Jun 2003	Message Posted: Apr 28, 2012 8:39:16 AM Ignore racerdj Report Abuse Ford seems to be doing things that will make it even stronger in the future.
speedraider Champion Author Orlando Posts:3,658 Points:1,641,970 Joined:Nov 2005	Message Posted: Apr 28, 2012 8:38:54 AM Ignore speedraider Report Abuse I'll take it
armstrmb Champion Author Houston Posts:10,544 Points:2,087,205 Joined:Jun 2007	Message Posted: Apr 28, 2012 8:38:43 AM Ignore armstrmb Report Abuse Good for them.
MightyDude Champion Author Minnesota Posts:10,335 Points:2,645,820 Joined:Mar 2003	Message Posted: Apr 28, 2012 8:38:28 AM Ignore MightyDude Report Abuse a bird in the hand is worth two in the bush
shores4now Champion Author Kentucky Posts:2,396 Points:521,850 Joined:Jul 2009	Message Posted: Apr 28, 2012 8:37:58 AM Ignore shores4now Report Abuse hmmmmmm
nascar8806 Champion Author Oklahoma City Posts:2,363 Points:842,130 Joined:Aug 2010	Message Posted: Apr 28, 2012 8:37:42 AM Ignore nascar8806 Report Abuse union cause all of this now the car companies need to get rid of the Unions thugs.
Tru2psu2 Champion Author Winston-Salem Posts:14,460 Points:1,552,705 Joined:Feb 2004	Message Posted: Apr 28, 2012 8:37:41 AM Ignore Tru2psu2 Report Abuse Ouch!
jimraehl Champion Author Utah Posts:7,049 Points:1,633,665 Joined:Sep 2008	Message Posted: Apr 28, 2012 8:37:21 AM Ignore jimraehl Report Abuse I wouldn't have taken the offer, unless I were very good at investing.
Zonk Champion Author Michigan Posts:6,471 Points:2,100,065 Joined:Oct 2005	Message Posted: Apr 28, 2012 8:37:06 AM Ignore Zonk Report Abuse Will it be considered to be an IRA?
hoosierdaddyno1 Champion Author Indiana Posts:1,539 Points:1,254,180 Joined:Oct 2008	Message Posted: Apr 28, 2012 8:36:53 AM Ignore hoosierdaddyno1 Report Abuse Gets them off the books
JWHITE1937 Champion Author Massachusetts Posts:2,509 Points:994,080 Joined:Aug 2006	Message Posted: Apr 28, 2012 8:36:47 AM Ignore JWHITE1937 Report Abuse They OWE the retirees for their years of service. Ford chose to fund the retirement plan rather than buy annuities, for instance.
FocusGuy Champion Author Seattle Posts:7,042 Points:1,409,830 Joined:Apr 2009	Message Posted: Apr 28, 2012 8:36:28 AM Ignore FocusGuy Report Abuse Ford has it going.
HelenT Champion Author Buffalo Posts:2,939 Points:594,900 Joined:Apr 2004	Message Posted: Apr 28, 2012 8:35:41 AM Ignore HelenT Report Abuse WOW! But, what $ amount is that "bag of cash"
liao Champion Author Montreal Posts:3,437 Points:1,426,285 Joined:Sep 2008	Message Posted: Apr 28, 2012 8:35:39 AM Ignore liao Report Abuse It only benefit the payee - Ford. It is not charity.
fleabite Champion Author Raleigh Posts:17,533 Points:3,249,460 Joined:Apr 2004	Message Posted: Apr 28, 2012 8:34:58 AM Ignore fleabite Report Abuse Saw an idiot do this and used the money to purchase a big luxury car.
scottydoesnt Champion Author Chicago Posts:3,767 Points:528,045 Joined:Apr 2011	Message Posted: Apr 28, 2012 8:34:26 AM Ignore scottydoesnt Report Abuse And if you don't take they cash, the pension fund will "dry up".
gabbygusIN Champion Author Indiana Posts:7,221 Points:1,556,950 Joined:Oct 2008	Message Posted: Apr 28, 2012 8:34:19 AM Ignore gabbygusIN Report Abuse Good option!!
pper Champion Author Grand Rapids Posts:3,069 Points:666,945 Joined:May 2011	Message Posted: Apr 28, 2012 8:34:17 AM Ignore pper Report Abuse Those eligable will be taking a gamble no matter which way they go.
ironbox_sara Champion Author Albany Posts:9,576 Points:2,235,830 Joined:Mar 2006	Message Posted: Apr 28, 2012 8:32:27 AM Ignore ironbox_sara Report Abuse And some fools will take the money and rip through it like a forest fire and have nothing to live on the rest of their lives. I've already seen it done.
N5EXY Champion Author Austin Posts:5,482 Points:1,507,830 Joined:Jul 2004	Message Posted: Apr 28, 2012 8:32:02 AM Ignore N5EXY Report Abuse Tough choice. Take it and hope to die early.
carpenter4u Champion Author Virginia Posts:2,436 Points:614,145 Joined:Jul 2011	Message Posted: Apr 28, 2012 8:32:01 AM Ignore carpenter4u Report Abuse It beats getting out of it by declaring bankruptcy
SpruceGuse2 Champion Author Michigan Posts:9,719 Points:2,451,760 Joined:Mar 2006	Message Posted: Apr 28, 2012 8:31:38 AM Ignore SpruceGuse2 Report Abuse It will save Ford billions of dollars.......................
METEOR49 Champion Author Ontario Posts:2,157 Points:452,300 Joined:Apr 2011	Message Posted: Apr 28, 2012 8:31:22 AM Ignore METEOR49 Report Abuse how does this translate into more miles per gallon.
evohnave Champion Author Virginia Posts:1,745 Points:1,000,000 Joined:Sep 2008	Message Posted: Apr 28, 2012 8:30:55 AM Ignore evohnave Report Abuse blah blah blah
WES03 Champion Author Maryland Posts:4,828 Points:1,262,445 Joined:Feb 2009	Message Posted: Apr 28, 2012 8:30:01 AM Ignore WES03 Report Abuse Take the money.
12mpgnavigator Champion Author Seattle Posts:2,764 Points:648,985 Joined:Jun 2009	Message Posted: Apr 28, 2012 8:26:29 AM Ignore 12mpgnavigator Report Abuse send me one of those bags of cash!