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Consultant in Financial Services

2018-01-17

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Ability to add notes to PDFs for my clients. It really does help answer questions for them much faster and help them understand the document better.
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Below is a list of the most common customer questions. If you can’t find an answer to your question, please don’t hesitate to reach out to us.

Are GM retirees getting a Christmas bonus in 2019?

The 2019 contract ratified by 48,000 GM workers in October did not include a retiree bonus that the company has offered in the past. In 2015, it was a one-time $500 payment for retirees. The 2019 tentative agreement facing ratification by 55,000 Ford workers also does not include a retiree bonus.

Are GM retirees getting a Christmas bonus?

Today, GM shop workers make up to $30 per hour. You know it's been a long time since retired GM workers got a raise in their retirement checks. At one time, we got a Christmas bonus.

Will GM retirees get Christmas bonus in 2019?

The 2019 contract ratified by 48,000 GM workers in October did not include a retiree bonus that the company has offered in the past. In 2015, it was a one-time $500 payment for retirees. The 2019 tentative agreement facing ratification by 55,000 Ford workers also does not include a retiree bonus.

Will GM retirees get Christmas bonus in 2018?

Under the new UAW national agreement, General Motors and Ford retirees will no longer receive a bonus from the two automakers.

Does the GM strike affect retirees?

Retirees currently aren't affected by the ongoing strike, but UAW members on strike lost their GM health benefits on Monday. The company made benefits inactive, so workers need to sign up for COBRA benefits provided by the UAW. Workers could be left to pay thousands of dollars a month.

Is there anything in the new GM contract for retirees?

Last week, the union and automaker agreed to a tentative four-year contract that would shift GM's $50 billion retiree health-care liability to a union-managed trust called a voluntary employee beneficiary fund, or VEGA. Union members are voting on the deal through early next week.

How many retirees does GM have?

Pension and health-care costs add almost $1,400 to the cost of every car it builds, according to analysts' estimates. Owing to the company's steady decline during the past three decades, GM's 460,000 retirees and surviving spouses now outnumber active employees in the U.S. nearly 3 to 1.

What is the average GM pension?

Retirees of the three big automakers receive average annual benefits of about $18,000 per year, in addition to another roughly $15,000 to $18,000 in Social Security payments, according to the United Automobile Workers, or UAW.

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