In late April, Ford Motor Co. announced it would offer 98,000 white-collar retirees and former employees the option of taking their pension as a lump sum. In all, the voluntary program sought to help reduce its U.S.-based pension obligation by about a third, or roughly $16 billion. The program was the first of its kind and magnitude offered by a U.S. company for ongoing pension plans.
(Text: Darla Mercado. Source: The Pension Rights Center)