Ford will pay record profit sharing to hourly Claycomo employees

There could be a flurry of bill paying or shopping in the Kansas City area shortly after March 10. That’s when about 7,500 hourly employees at Ford Motor Co.’s Kansas City Assembly Plant are scheduled to get record profit-sharing checks.

The Claycomo payouts to eligible United Auto Workers members will average about $9,300 figured on a full-year basis, with the actual amounts higher or lower depending on the employee’s number of compensated hours.

Ford announced its 2015 financial results Thursday, posting record pretax profits of $10.8 billion and net income of $7.4 billion on revenue of $149.6 billion.

“We promised a breakthrough year in 2015, and we delivered,” said Mark Fields, Ford president and CEO.

The hourly employee bonus formula was set by the Ford-UAW bargaining agreement ratified in November. The contract covers four years.

Ford notes, though, that the actual take-home amounts on bonus checks will be less than the $9,300 payout announced.

A 25 percent federal income tax deduction will be taken, along with a 7.65 percent Medicare tax, Social Security taxes, and state and local taxes. Additionally, any child support arrearages, bankruptcy payments, wage garnishments, union dues or any money owed to the company also will be taken out of an employee’s check.

Even so, the spring bonus reflects a strong year for Ford and the Claycomo plant in particular. The Kansas City plant makes the Ford F-Series truck, which has been the United States’ best-selling vehicle for 34 years, and the company’s new Transit van.

This story was originally published January 28, 2016 at 1:07 PM with the headline "Ford will pay record profit sharing to hourly Claycomo employees."