Pensions: Facts & 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 1

$833/month

$1,000/month

$1,000/month

UAW-NUMMI (Toyota) Technician 2

$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 3

$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

FACT: UAW defined benefit pension plans provide higher benefits than Nissan's plan. And the benefits are GUARANTEED by a contract. If you want to see what Nissan guarantees us in writing, check out page 4 in the Nissan Benefits Book. You owe it to yourself, and your family to seek the truth.
 

Wanna Go Somewhere Else?   

In Solidarity,

Brother Gary Lifford

Woodhaven Stamping
Plant Chairman, 

U.A.W. Local #387

Brother John Moore

President, U.A.W. Local #387

Brother Jeff Faber

Woodhaven Forging
Plant Chairman, 

U.A.W. Local #387

Brother T.J. Gomez

Vice-President, U.A.W. Local #387


Official Site Developed & Maintained By Gary Bostick, UAW Local #387 Network Administrator & Retiree Member.

*EMAIL: President: John Moore*Vice-President: T. J. Gomez*WSP Chairman: Gary Lifford*WFP Chairman: Jeff Faber*

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Revised: Monday February 11, 2008 03:36 PM -0500