Pension funds used for retirement offers

[rickaren]

Detroit automakers are turning to their pension funds to pay for incentives to persuade people to retire, the Free Press has learned.

Some workers, however, are balking at the arrangements, worried about their future retirements, even though the pension funds being used contain more money than they need to meet obligations.

Chrysler LLC and General Motors Corp. confirmed Friday that they are using the technique, while a Ford Motor Co. representative was unsure.

Chrysler worker Shawn Fain, a UAW local leader in Indiana, expressed concern about money being taken from the pension and sarcastically added: "We're going to offer you an incentive package to retire, yet you can pay for it with the pension fund -- what a deal!"

LINK:Pension funds used for retirement offers | Freep.com | Detroit Free Press

[sreeja]

It is really a nice plan for all.I am from INDIA.Here is a lot of plans for children's education,wedding after retirement.It reduces tension.It is a good