Pensions: Fact & Fiction
| For years Nissan has tried to convince us that our Nissan Pension Plan was equal to, or even better than the UAW negotiated auto industry pensions. Sadly, many Nissan workers believed that story only to find out that the good pensions promised by Nissan didn't measure up when it was time to retire. Let's look at the numbers: |
| Compare: Monthly Retirement Benefits now, with the following years of service | |||
| 25 years | 30 years | 35 years | |
| Nissan Technician | $833/month | $1,000/month | $1,000/month |
| UAW-NUMMI (Toyota) Technician | $1,081/month | $1,298/month | $1,514/month |
| UAW Difference: |
+$248/month +2,976 per year |
+$298/month +$3,576 per year |
+$514/month +$6,168 per year |
| FACT: UAW defined benefit plans provide a 30 & out benefit. Nissan doesn't. The difference can be HUGE. |
| Compare: Monthly benefits starting at age 25 and retiring at age 55 after 30 years of Service | |||
| UAW Big 3 Technician | UAW NUMMI (Toyota) Technician | Nissan Technician | |
| Basic Benefit | $1,350/month | $1,298/month | $1,000/month |
| Early Retirement Penalty | $0 | $0 |
($280)
28% reduction |
| Big 3 Retirement supplement | $1,250 | N/a | N/a |
| Total Monthly Benefits | $2,600/month | $1,298/month | $720/month |
| Total Annual Benefits | $31,200 | $15,576 | $8,640 |
Want To Go Somewhere Else?
In Solidarity
Official Site Developed & Maintained By Gary Bostick, UAW Local #387 Network Administrator & Retiree Member.
Revised: Thursday, 26-Jan-2012 3:29 PM EDT
