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According to the UAW contract summary for GM hourly workers, terms include: A $60,000 retirement bonus for up to 2,000 eligible production and 60 eligible skilled employees who retire between Dec. 31 and Feb. 28, 2020.
According to the UAW contract summary for GM hourly workers, terms include: ... Retirement-eligible employees at three GM plants that are closing including Warren Transmission in Macomb County will be offered $75,000 for production workers and $85,000 for skilled workers if they exercise their right to retire.
GM pensions for all retirees average about $14,000 a year, more than double the median income from private pension plans in the U.S. GM won't disclose exact figures, but officials note that many retirees get substantially more than the average, which is depressed by the reduced payments made to surviving spouses.
UAW Local 602 Vice President Steve Delaney confirmed Thursday that the health care of UAW retirees will not be affected by GM's decision. ... However, the strike has affected retirees' access to a legal services plan, which provides discounts to UAW members and retirees for services such as wills and divorces.
DETROIT Based on the 2018 full-year results for the company's North America business, General Motors announced this morning more than 46,500 eligible U.S. hourly employees will receive a profit sharing payment of up to $10,750.
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.
In 2015, the automaker and the UAW signed a four-year contract which provides GM retirees with a $500 Christmas bonus. The Christmas bonuses are actually year-end payments that provide an adjustment to a retiree's pension based on inflation. ... Ford retirees receive $1,000 during the contract.
Workers will also get an $11,000 signing bonus. More than 23,000 union members voted to approve the deal, about 57 percent of the 40,000 who participated.
General Motors and the United Auto Workers have reached a tentative agreement to end the strike that began one month ago, the labor union announced Wednesday. ... Like GM, the union's statement about the deal did not provide details about how those matters were resolved.
(XYZ) The UAW and General Motors reached a tentative agreement on a new 4-year contract after 31 days of striking on Wednesday. The union and GM have been working for months on a new contract, and officially went on strike on Sept. 14 when the previous contract expired.
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