Welcome to uawfordretirement.com

UAW Vice President James Settles Jr. with a welcome message from the UAW.

UAW Vice President James Settles Jr. with a welcome message from the UAW.

This site is designed to provide you and your family with the tools necessary to make a well-educated retirement decision. Because retirement is such an important part of your life, there are a number of items to consider.

Retiring from Ford involves considering your pension, Social Security, and the Tax-Efficient Saving Program for Hourly Employees (or TESPHE). Looking at these three elements, with guidance from the materials provided in this program, will allow you to determine when you can afford to retire.

This site includes numerous resources, each with valuable information designed specifically for Ford hourly employees. All of the examples and techniques in this program are illustrations of how to analyze your situation, and are not intended to persuade you to either retire or stay working. You should plug in your own numbers. Feel free to navigate the site and assess your unique situation using the calculators, videos and eBook provided. Just remember, your mileage may vary, and good luck on analyzing your retirement decision!

Special Wage Payment and New MI Pension Tax Laws:

Members who are eligible for Social Security (either retirement, or disability) can have a determination of the buyout as not being income (as a ‘Special Wage Payment’) subject to the earning limitation. The buyout is paid after retirement and is a retirement incentive. Accordingly, we think some members/retirees could benefit by filing a SSA 131. If you are not collecting Social Security at the time you receive the buyout, you will probably not need this form.

Member would fill out Part I,
and mail said form to:

Ford Payroll Office
15031 S. Commerce Park Drive RC-3
Dearborn, MI 48120
Attn: D. Fritz

At which point, Ford will fill in the Part II, and send it to Social Security.

Michigan Pension Tax Rules

MI has announced new pension tax laws effective January 1, 2012, which can be found here. This is an overview and you should consult with your tax advisor as to the amount of tax you may owe.