DEARBORN - By now, participants of the third election period should have received all the communications related to the voluntary General Retirement Plan (GRP) lump sum payment opportunity. December 14, 2012 marks the beginning of this election period for approximately 22,000 participants. Ford continues to receive questions from participants regarding the timing of their election periods. Here are a few:
Q: When will the next group of GRP retirees begin to receive information about their lump sum election period?
A: Retiree election periods will be held through the third quarter of 2013. Approximately 15,000 surviving beneficiaries and retirees will receive communications beginning on January 31, 2013, and April 3, 2013, respectively. These participants can expect the same communications (the announcement postcard, Decision Guide and Election Kit).
Q: When will former employees vested in the GRP (those not currently receiving a pension payment) receive information about their lump sum election period?
A: Most former employees eligible for the GRP lump sum opportunity (approximately 35,000) will receive information about their election periods towards the end of second quarter 2013.
Q. How can I determine if I’m in a current election period?
A. Participants eligible for the GRP Lump Sum opportunity can now go online to myfordbenefits.com and click on the new GRP Lump Sum Information tab on the homepage to determine if they are in an active election period.
Q. How do I change my address on myfordbenefits.com? I want to be sure I receive the communications from Ford about the lump sum opportunity.
A. It’s important that participants (retirees and former employees) keep their address up to date with the Company. The National Employee Services Center is the Company record-keeper for employee data. To make updates to your personal data, including your home address, go to www.myfordbenefits.com and log in using your User ID and Personal Identification Number. From the homepage, click on Personal Data from the top blue bar, then click on Address Information and follow the instructions to update your address.
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 from the homepage.
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.