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November 4, 2023 at 12:32 PM. United Auto Workers President Shawn Fain said the tentative agreement the union struck with General Motors is the union's first step toward securing a better economic ...
At GM, the salaried employee pension plan moves, effective Sept. 30, to the 2022-23 plan year. That's the typical time frame for such changes. The new plan year at GM refers to the July 2022 ...
The Detroit-based automaker said roughly 19,000 salaried workers hired before 2001 will move from a traditional pension with guaranteed payments to a 401(k)-type plan with contributions based on ...
www .lincolnshireil .gov. Lincolnshire is a village in Vernon Township, Lake County, in the U.S. state of Illinois. The village is a northern suburb of Chicago. Per the 2020 census, the population was 7,940. [3] Lincolnshire was incorporated on August 5, 1957, from the unincorporated Half Day area when land was purchased to build a residential ...
DaimlerChrysler (1998–2007) Chrysler (2007–2014) Fiat Chrysler Automobiles (2014–2021) Stellantis (2021–present) The Belvidere Assembly Plant (BVAP) is an idled automobile production facility owned and operated by Stellantis North America. The factory opened in 1965 in Belvidere, Illinois, United States, and last assembled the Jeep ...
Pension benefits are primarily designed to favor workers who work a full career (typically at least 25 years of service), which account for approximately 24% of state-level public workers. In a study of 335 statewide retirement plans, Equable Institute found that 74.1% of pension plans in the US served this group of workers well.
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% ...
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 ...