Chrysler upgrades buyout offers for Fenton workers

Chrysler said Monday it upgraded its buyout offers for workers at the plants the automaker plans to close ??? including in Fenton ??? as part of itsbankruptcy restructuring.

Fenton workers within two years of retirement eligibility on the dates their plants close will be placed on leave of absence with 85 percent of their pay until they are eligible for retirement.

The offers include a $115,000 lump-sum payment for workers with more than 10 years of seniority who choose to leave the company. Workers with fewer than 10 years of seniority can get a $75,000 lump-sum payment plus a $25,000 vehicle voucher.

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The offers also include a year of health care, excluding dental, and lower the early retirement age from 55 to 50.

Chrysler said in a statement that it set funds aside to finance the buyouts.

United Auto Workers must decide by May 26 whether they will take the buyouts and leave the company by May 27.

The automaker, which employed about 1,200 workers in Fenton, said earlier this month that itplans to closeits Dodge Ram plant in Fenton by September.

Chrysler???s other plant in Fenton, which assembled minivans, was idled in October.