The Supplemental Executive Retirement Plan (”SERP”) provides certain eligible executives with an additional monthly benefit after separation from service equal to Final Five Year Average Base Salary multiplied by credited pension service and further multiplied by an applicable percentage (0.2% to 0.9% depending upon …
Simply so, what is Ford’s 401k match?
Ford also offers a Company match of 90 cents per dollar on the first 5% of your own contributions, no matter which type of contributions you make.
Considering this, when can I draw my Ford pension?
Ford retirees that elect a benefit commencement date that is within 180 days of their termination date will have the option to elect a lump sum distribution. After the 180 day period only a monthly benefit payment option will be available.
What happens to a pension after death?
Typically, pension plans allow for only the member—or the member and their surviving spouse—to receive benefit payments. … “When a plan participant dies, the surviving spouse should contact the deceased spouse’s employer or the plan’s administrator to make a claim for any available benefits.
How does the Ford a plan work?
The Ford A Plan and Z Plan encourages the Bill Brown Ford employees, retirees and their families with a purchase plan to drive a new Company product. Each person is allocated 4 PINs per year that they can use for immediate use of purchase at BB Ford.