DEARBORN - As we progress through election periods for the voluntary General Retirement Plan lump sum payment opportunity, Ford continues to receive questions from participants regarding the completion of their election forms. The deadline is March 13, 2013, for those whose election period began on December 14, 2012.
The election period for most of the surviving beneficiaries began on March 1, 2013. Election periods will continue through the end of 2013 for retirees (including those with a Qualified Domestic Relations Order), surviving beneficiaries, alternate payees, and former employees vested in their GRP benefit.
For participants who have not yet mailed their kits to the Pension Lump Sum Information Center, here are some important tips:
1. Be sure to complete the section that indicates your payment election – lump sum payment or monthly benefit option (Form 1, Section 2), where applicable. Simply check the box.
2. Verify your birth date by checking the box beside your birth date on Form 1, Section 3. Importantly, if your birth date is not correct, please contact the Pension Lump Sum Information Center.
3. Complete all declarations, including the Assignment Notification, by checking the appropriate box.
4. When completing your election on Form 1, Section 6, please sign and date the document.
5. Review the Benefit Election Checklist to verify that you have completed all steps and provided all required documents to make your election.
Eligible participants also can find more information on myfordbenefits.com. Once you are logged on, a link to frequently asked questions can be found under Messages & Alerts and GRP Lump Sum Information on the homepage.
If you take no action, you will continue to receive your monthly pension benefit payments as you do now.
If you are a participant in a current election period and have any questions, contact the Pension Lump-Sum Information Center at 1-888-382-9642 (1-858-703-2176 if calling from outside the United States and Canada) between 9 a.m. and 6 p.m. Eastern Time, Monday through Friday. Please call the Pension Lump-Sum Information Center immediately for any correction to your personal information. If a correction is made that affects your lump-sum calculation, a new Election Kit may be required.
Your employee benefits are governed by the terms of the applicable official plan document or policy. Summaries of your benefits are available; however, if a conflict exists between any summary and the official plan document, the official plan document prevails. The Company reserves the right to terminate, suspend, or amend any of its employee benefit plans, programs or policies at any time in accordance with applicable plan documents and subject to applicable collective bargaining agreements. You will be notified of any change after it is approved. Until a change is officially announced, no plan fiduciary or any other Company representative is authorized to disclose to you any information about a change under consideration. You should rely exclusively on officially announced information and plan materials. No employee, beneficiary, surviving spouse or other person has any legal or other right to benefits under the Company's employee benefit plans, programs or policies, except as provided by such plans, programs and policies.