Ford retirees worry about future

NWI ^ | 11/28/08 | ANDREA HOLECEK

[TigerLikesRooster]

Ford retirees worry about future

BY ANDREA HOLECEK

holecek@nwitimes.com

| Friday, November 28, 2008 | No comments posted.

Local Ford Motor Co. retirees say they are worried about the fate of U.S. auto makers and how the industry's problems could affect their comfortable retirements.

"I'm very much concerned," said Charles Cupp, 50, of Morocco, who retired in 2007. "It's very concerning for every one of the retirees I've talked to. It seems like the first place they always cut is on retirees."

Cupp, who worked as an hourly employee at the Chicago Ford Assembly Plant for 30 years, and other retirees said they are paying close attention to the U.S. economy, the domestic auto industry's downturn and General Motors, Ford and Chrysler's recent quest for government aid to stave off bankruptcy.

"I'm watching it on TV every day," said Tony Slusarczyk of Hammond, who retired last year at age 55 after 36 years as a United Auto Workers member at the Chicago Ford Assembly Plant. "I'm watching it more and more. All of us feel the same thing. You feel like you're in limbo, and there's nothing you can do about it."

[Hot Tabasco]

There's the problem right there. Retired at 50?

No, thats not the problem. He accepted the buyout with the guarantee of full pension. Now he's worried that that pension that has been guaranteed him for the past 30 years may may end up in PBGC just like all the other high seniority, high aged folks who are still working.......

[Chode]

maybe you shoulda thoughta that whilst you and your union were extorting obscene contracts/benefits from the company...

[texican01]

I wouldn’t count on anybody keeping all their goodies.

The party is over!!

This Country is busted,bankrupt,broke.

Counterfeit currency printed by the Federal Reserve eventual will mean/be worth zip, nada, nothing!

[Diana in Wisconsin]

Like I always say, we’re all Free Agents when it comes to our work lives. You do what you have to do.

This guy will figure it out. And I’m right behind him; I plan on being out of the regular workforce by age 50 (I’ve committed two more years to my current employer) but I’ll still earn money after that through investments and my own small businesses.

I can’t WAIT to get back to being my own boss again. :)

[central_va]

I don’t care if liberals don’t like me or think I’m mean. I don’t even care what you think.

Will you run in '12 for Pres? Please...

[metesky]

I respect that you work hard and think you deserve to give your opinion.

21 years in the military defending the country and our Constitution and you think I deserve to give an opinion?

Maybe you expressed yourself badly but here's the news: I am a free citizen of the United States and under our Constitution and it's BOR, I can express an opinion whether you "think" (rather surprised you didn't say "feel") I'm entitled to or not.

Here's another unsolicited opinion for you: I'm not the least bit surprised that the USA's original collectivist experiments, the unions, are facing fiscal disaster. Are you?

[central_va]

The second they start to talk about a bailout of Ford with MY and YOUR money, then the retirees can F’ off. I will tell my paster that and since I know him pretty well he will agree with me. You are a RINO (worlds greatest insult)! Go away, please.

[Big Horn]

Both of them have a good 15-20 productive working years left. They need to get off their butts and go get jobs.

My wife and I are still working at 71 years. Its good for your health

[ikka]

"I'm watching it on TV every day," said Tony Slusarczyk of Hammond, who retired last year at age 55

Probable Obama sheep voter, since he is not even able to get his news from the Internet. TV News = Propaganda .

[Republic of Texas]

I hear Walmart is hiring. Might want to give them a call.

[jude24]

21 years in the military defending the country and our Constitution and you think I deserve to give an opinion?

That leads me to an interesting question. I assume a motivating factor for you to stay in for 21 years was the military retirement. So, if your pension were to be taken away from you, what would your reaction be? What would that do to your finances?

[Gorzaloon]

" "It's very concerning for every one of the retirees I've talked to. It seems like the first place they always cut is on retirees."

That must be because they do not work there anymore, huh?

I am retired with a crummy 401(k) that has lost a lot of value, just like everyone else's. There is a sympathy shortage here. I didn't pay dues to the Mafia union to extort a better deal for myself, though.

[Jim Noble]

Ford retirees worry about future

Well, the list of people who are well and truly f***ed is going to get quite long, quite soon - but these guys are near the top, for sure.

[Gorzaloon]

No. I imagine conversing with someone who has spent 30 years in the same building must be as stimulating as conversing with a career 4th grade teacher.

That made me burst out laughing..it is pretty much ME.

Well, OK, forty years in a cluster of buildings, but it's almost the same thing.

[KYGrandma]

You are assuming that the worker chose to retire. Hubby was told retire or lose it. There was no choice. Also, you are assuming that all Ford workers are UAW or management. How about the techs, engineers and others who are just salaried? Don’t just lump us in with the bad.

[metesky]

You’re talking to the wrong guy. Try reading for comprehension...

[Madame Dufarge]

You are assuming that the worker chose to retire

From the article:

Cupp opted for a retirement package in 2007 that paid him a lump sum of $140,000 in return for foregoing any health insurance benefits. His wife took a much smaller buyout package that provides health insurance for her and her husband, plus a partial pension

[Gorzaloon]

My wife and I are still working at 71 years. Its good for your health

"When you Stop, You Drop."

I had grandparents who realized their dreams of retirement, went fishing a few times, and died. I SAY I retired, but my idea of being retired is running a business. I have no intention of stopping-It's FUN! Sure, after taxes and health insurance, there is not a lot of money left over, but what else would I do?? Cruise for bluehairs at bingo games? I am too restless to fish, terrible at golf, and hardly drink, hate television, and don't read the print media. And being busy and active IS a fountain of youth. Maybe someday I'll drop dead trailbiking. FINE! I'll take that over a rest home any day.

[Night Hides Not]

That leads me to an interesting question. I assume a motivating factor for you to stay in for 21 years was the military retirement. So, if your pension were to be taken away from you, what would your reaction be? What would that do to your finances?

If you're going to do comparisons, at least compare apples to apples. Working as a union employees does not compare to serving in the military for any period of time.

Instead of throwing stones at metesky, you should be thanking him for his service to our country.

BTW, the military pension at 20 years is 50% of one's base pay, without allowances. Financially, that's a far cry from what that Ford retiree is making.