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For retirees, GM has agreed to make five payments of $500 to current retirees and surviving spouses, the first such payments in over 15 years. Like the other two, the GM deal includes a right to ...
United Auto Workers. The United Auto Workers ( UAW ), fully named International Union, United Automobile, Aerospace and Agricultural Implement Workers of America, is an American labor union that represents workers in the United States (including Puerto Rico) and southern Ontario, Canada. It was founded as part of the Congress of Industrial ...
Currently, GM contributes 4% of a nonunion salaried employee's eligible pay to their 401 (k). GM then matches employee contributions up to 4% beyond that amount. The match will increase 2% ...
Website. gm .com. General Motors ( GM) [2] is an American multinational automotive manufacturing company headquartered in Detroit, Michigan, United States. [3] The company is most known for owning and manufacturing four automobile brands, Chevrolet, GMC, Cadillac and Buick.
Types of retirement plans. Retirement plans are classified as either defined benefit plans or defined contribution plans, depending on how benefits are determined.. In a defined benefit (or pension) plan, benefits are calculated using a fixed formula that typically factors in final pay and service with an employer, and payments are made from a trust fund specifically dedicated to the plan.
In an 8-K filing submitted by GM on Thursday, the automaker says it expects to take a $1.5 billion pre-tax charge, and up to $300 million in pre-tax, non-cash pension curtailment charges. GM said ...
GM directly employs 123,000 in all of North America. An estimated two million people relied on the industry for health care and 775,000 retirees collect auto-industry pensions. Hourly wages and benefits. Gary Burtless of the Brookings Institution argued that hourly wages were similar between the Big Three and the transplants.
The president of the United Auto Workers (UAW) union slammed General Motors’s (GM) wage and benefit offer as “insulting” and warned the automaker that “the clock is ticking” as the union ...