Just for everyone's info, I called today, you can only get your money out of Tesphe if you've retired, quit Ford are 59 1/2 or Hardship Withdrawl, the withdrawl can only be taken out for medical, death in family, home loan or improvement, school. All changes are effective January 2, 2015. Any amount of the AICP payout or Profit Sharing payout that is elected for deferral to the SSIP or TESPHE will be combined with your pre-tax contributions that are contributed to the plan throughout the year, including those contributions you have already made this year. Customers are invited to participate in a survey administered by MaritzCX, an independent, third-party supplier. All staff can communicate with one another. Call 1-800-248-4444 to reach the National Employee Service Center. threatening to harm employees or others), Lack of adequate text (e.g., symbols, emojis and random letters), Reviews on the product and not the customers Sales or Service experience, Ford Credit onlineAccount Manageris the easiest way to pay your bill, keep tabs on your account and chat with us if you have questions. Account Manager gives you the ability to:, To register for online access you will need your account number, which is provided with the first billing statement. Ford Motor Company has announced a transition from HealthEquity to a new Health Savings Account (HSA) provider, Smart-Choice. If you need help finding the right part for your vehicle; if you've encountered any difficulties using our website, or have any suggestions for improvement give us a call at 844-589-0060, Monday - Friday 8:30 a.m. to 5:30 p.m. EST. If you've really got some stones, flip the stock. But boy was I PO'ed that this information was not up front on the website, but still would have had to do it. Contact Mainstay toll-free at 18664446246 to discuss the impact these changes may have on your portfolio. ('Ford Money' is a trading style of FCE Bank plc); Our Sort Code: 20-32-53 (We use Barclays as our clearing bank) Our Bank Account Number: 63604551 No. Newsflash: Tesphe was NOT SET UP TO BE A S&L. send it to fidelity and it will be approved. There are two programs under which an employee may be eligible. For those evaluating a buyout offer, there are important factors to consider: Mainstay Capital Management is a fee-only, independent investment advisor that provides portfolio management and retirement planning services as well as counsels hundreds of Ford employees on buyout offers. Click here if you do not have a username or if you have forgotten your username / CDS ID and/or password. An employee may apply for this financial aid from Ford at any time during his or her employment or after retirement. These Vanguard funds are not changing their investment objective, strategies, or holdings. Lwoodbluz, October 29, 2007 in Ford Employee Forum. Such information shall not be disclosed or caused to be disclosed without proper authorization from Ford. Salary and incentive distribution for each month. The new investment options will provide similar investment strategies and risks, but the overall expenses for the investment options will be lower. The Roth feature within a 401(k) plan allows employees the flexibility to tax diversify their income sources for retirement by directing savings among designated Roth, traditional pre-tax, and/or after-tax contributions. Ford Motor Company has announced it will offer about 90,000 eligible U.S. salaried retirees and former employees the option to receive a voluntary lump sum pension benefit payment. Ford personnel and/or dealership personnel cannot modify or remove reviews. The rollout of the lump sum offers will continue into 2013. For complementary access to our online Guide to Managing Your Ford Motor SSIP / TESPHE / FRP 401 (k) Plan as well as our current Growth Model Portfolios for your SSIP or TESPHE 401 (k) account, please simply sign-up for our mailing list with the Ford Motor box checked. Effective January 5, 2010, Affiliated Computer Services (ACS) has taken over administration of the Ford SSIP, FRP, DCP and BEP for salaried employees, as well as the TESPHE for hourly employees, from Fidelity Investments. This option will provide all eligible salaried and hourly employees the ability to contribute to a Roth savings feature within their 401(k) plan. Oh yeah but I'm sure you both that responded so smartly are a bunch of rich folk NOT!! I find it hard to believe you can't get your own money back except for what they say you can have it for. I am not an idiot but how many of you actually knew that if you withdraw from your TESPE for ANY hardship you where penilized by NOT BEING ABLE TO CONTRIBUTE FOR A FULL YEAR TO YOUR OWN DARN RETIREMENT ACCOUNT!!! To appear in search results, crawlers need access to your app. The investment options that are currently available in these plans are not expected to change initially, but may change over time as part of the regular monitoring process. It may also be in your benefit to invest in a taxable account. MyFordBenefits is the official US employee portal, where Ford and former workers may also log in and access their personal information, such as pay stubs and Ford benefits. I hope that all Ford workers and retirees will read this post to have a better knowledge of MyFordBenefits. No vendors, fleets, or other entities are welcome. Ford Motor Firm established this plan to give qualifying executives with a lifelong monthly benefit if they quit the company under specified circumstances. Ford is a Fortune 500 company, and as such, it welcomes users from all nations. Effective November 14, 2014, the fund will be closed to new investments and current allocations will transfer to an existing fund in the plan. Registration can be completed using desktop, phone, tablet or the FordPass app. Consider it a blessing that you could not access your money at this point. On the following page, input your Social Security Numbers (SSN) last four digits and your date of birth. The ALERT is due to an error which is occurring as a result of a Fidelity fund change within the Plan at the end of the year. I was simply explaining to some folk that taxes are not the only penalty they will incure as I'm sure this is a detail MOST people DO NOT KNOW. The decision to accept a separation program requires careful analysis and planning on the part of each employee. JavaScript is required. By These changes will be effective as of the close of business on July 1, 2011. Lack of Open Graph description can be counter-productive for their social media presence, as such a description allows converting a website homepage (or other pages) into good-looking, rich and well-structured posts, when it is being shared on Facebook and other social media. Also IF you are laid off you CAN NOT take out a loan!! How will the STEP or SRI impact my retirement plan? It's easy! Its better to minify JavaScript in order to improve website performance. I have been with Intuit for three tax seasons. Mainstay Capital Management recommends that all Ford salaried employees contribute at least 5% in order to take full advantage of the company match. We will continue to make necessary improvements to ensure that our retirees receive competitive pricing. Youll need an identity number, which doubles as your social security number, and an initial PIN code based on your date of birth. Of course you do. Leave TESPHE in place and play with the Ford Stock option. You can close out your TESPE account by calling them anytime, however if your not 59&1/2 years of age you are subject to a 10 percent penalty tax of the whole amount ,now on loans they do have three types to choose from personal, new home or improvement loan and finally the hardship loan. Participation is limited to those invited by Ford Motor Company and confirmed in advance. Please take note of the following references to Ford perks that the firm makes available to its workers via this web portal. We had very specific reasons for wanting a larger down payment that I don't feel the need to tell you all about because your so almighty and knowing. Are there only certain reasons you can withdraw your money? Welcome to your. Call Mainstay Capital Management toll-free at 1-866-444-6246 to discuss your personal situation with a Retirement Planning Specialist. Ford has announced upcoming changes to the investment options in the Savings and Stock Investment Plan (SSIP). Jul 5, 2018. TESPHE stands forTax-Efficient Savings Plan For Ford treats its employees like family and offers a variety of insurance options. MyFordBenefits.com is a Ford Motor Company retirement program. [Learn more](https://developers.google.com/search/mobile-sites/). If you have questions about the new Ford HSA or would like to discuss how the HSA can benefit your overall financial plan and retirement savings strategy, contact us toll-free at 1-866-444-6246. Schedule maintenance. Format your HTML in a way that enables crawlers to better understand your apps content. Click the Hourly Employee Pages link on the United States Employees page. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly. Ford workers may now access their perks online. This page needs HTML code to be minified as it can gain 1.5 kB, which is 14% of the original size. These are opportunities to improve the semantics of the controls in your application. SDBA. I say NEVER borrow money to start a business. You need to be a member in order to leave a comment. Submit your inquiries and await replies from other workers, United States: Ford Motor Company, Customer Relations Center, PO Box 6248, Dearborn, MI 48126. For those evaluating the SRI or STEP, there are important factors to consider: Mainstay Capital Management is a fee-only, independent investment advisor that can provide a comprehensive Retirement Income Analysis, help evaluate "what-if" scenarios, and assist in making informed decisions concerning any buyout offer. HTML content can be minified and compressed by a websites server. 50% of websites need less resources to load. Clear Financial Advisors uses independent firmssuch as Betterment, TIAA, and TD Ameritrade, Inc. to custodyclient assets. The most efficient way is to compress content using GZIP which reduces data amount travelling through the network between server and browser. The diagram shows the current total size of all JavaScript files against the prospective JavaScript size after its minification and compression. Most common TESPHE abbreviation full forms updated in January 2023 . or call us toll-free 1-866-444-6246. Next, choose US Employees. In the drop-down menu of available selections. You need JavaScript enabled to view it. The Reemployment Assistance program is also worthwhile to those younger employees who choose to separate but are not yet ready for full retirement. Retirement, Account, Brokerage. ACA. HSA participants currently investing in these funds may continue to do so. Remember you own units of the Ford Stock Fund." Image elements do not have [alt] attributes, Includes front-end JavaScript libraries with known security vulnerabilities, Ensure CSP is effective against XSS attacks, Displays images with incorrect aspect ratio, Browser errors were logged to the console, Missing source maps for large first-party JavaScript. If you feel you should be able to enter the site, please contact your sponsoring Ford employee/retiree. I'm assuming you started saving for retirement because you will need money for retirement and not becasue of the tax advantages. You have to have both a retirement and a savings. Are you aware of the details specific to your situation? Ford Motor Company will introduce a Roth option to the 401(k) plan next year. These options are in addition to the current lump sum withdrawal option. Among its strengths are its people resources, which contribute to the companys success. Clients should consult with their personal tax advisors regarding the tax consequences of investing. . You need the same PIN to get in touch with NESC and to access www.myfordbenefits.com. On the Performance Summary page, you may modify or compare your performance. You must always make deposits from your Nominated Account via BACS, CHAPS, or Faster Payment. There is a section where you can get a loan and you can do it all on line. It all depends on the household's income. Here are some things you can do on the MyFordBenefits.com website: Confirm and update dependent information online. Just for everyone's info, I called today, you can only get your money out of Tesphe if you've retired, quit Ford are 59 1/2 or Hardship Withdrawl, the withdrawl can only be taken out for medical, death in family, home loan or improvement, school. 3.6. My reason for wanting the withdrawl was start up cost on a business and this doesn't fall in their list, I did not understand this going into Tesphe or I would never have done it, I would have gone to my bank and done the retirement type things where I could have gotten it out if I needed it, by just paying penalities and interest. The New Car Buying Program (AXZ Plans) provides the highest savings on new Ford Motor Company vehicles for workers, retirees, and their immediate families. 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