Reader: What Will Happen to My Pension if My Company Tanks?

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Retired at age 55

I'm trying to get a clarification of the following.
I retired from Ford salary rolls after 30 years in 1999 at age 55, I'm now 66. I currently receive $2,520 in pensions from Ford
If the PBGC were to take over the Ford pensions today, is the pension I would receive from the PBGC based on my age when I retired in 1999 at age 55. Based on the chart I would receive about $1,940.63.
Or would the pension be based on my current age of 66 and I would receive a max $4,312.50 or at least the $2,520 I'm receiving from Ford now?

Dan Webb of MI @ Nov 20, 2008 11:29:28 AM

GM may go under

This is horrific that I may lose my share of a QDRO pension soon from GM if they go bankrupt. I am severely visually impaired and deaf and just got through a nasty divorce. I am not yet of social security age yet and could lose everything I have. I do not even have a car to live in. I am in dire straights now.

Lindy of TN @ Nov 14, 2008 19:59:17 PM

Interesting...I will check further on this when I get the
specs on Dad's plan

Jay of LA @ Nov 14, 2008 12:24:17 PM

Follow the UAW's lead

The UAW took over the Ford hourly retiree's pension with a lump sum payment from Ford and established a separate entity to manage hourly retiree's pensions.

HillbillyBill of TN @ Nov 12, 2008 07:36:11 AM

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Reader: What Will Happen to My Pension if My Company Tanks?

Retired at age 55

GM may go under

Follow the UAW's lead

Planning to Retire

Money

Reader: What Will Happen to My Pension if My Company Tanks?

Retired at age 55

GM may go under

Follow the UAW's lead

Planning to Retire

Best of Planning to Retire

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