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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%, meaning ...
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 ...
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 ...
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.
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 Organizations (CIO) in the ...
GM filed for Chapter 11 reorganization in the Manhattan New York federal bankruptcy court on June 1, 2009, at approximately 8:00 am EDT. June 1, 2009, was the deadline to supply an acceptable viability plan to the U.S. Treasury. The filing reported US$82.29 billion in assets and US$172.81 billion in debt. [6][7][8][9][10] After the Chapter 11 ...
GM salaried employees have until noon March 24 to decide if they want to accept a buyout offer of up to 12 months pay for long-term employees. ... a $50,000 lump sum pretax retirement incentive ...
gm.com. General Motors Company (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.
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