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[1] [2] A VEBA cannot, however, provide commuter benefits, miscellaneous fringe benefits, or retiree income. [2] The plan may pay benefits to employees, their dependents, or their designated beneficiaries, or to disabled, laid-off, or retired former employees. [1] [2] The organization must also meet the following additional requirements:
The UAW asserts that most of this labor cost disparity comes from legacy pension and healthcare benefits to retired members, of which the Japanese automakers have none. The Big Three already sold each of their cars for about $2,500 less than equivalent cars from Japanese companies, analysts at the International Motor Vehicle Program said. [45]
Faria noted that UAW president Ron Gettelfinger agreed to have the UAW's "all-in" wage, benefit and pension costs drop from a high of $75.86 per hour in 2007 to an average of about $51 per hour starting in 2010. By comparison, the CAW's cost per hour was $77 in 2007 and will rise to over $80 per hour by the end of the new contract.
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The United Auto Workers union announced it reached a last-minute tentative agreement with truck and bus manufacturer Daimler Truck, averting a potential strike of more than 7,000 workers. It ...
DETROIT (Reuters) -United Auto Workers President Shawn Fain is under investigation by an independent federal monitor over allegations of retaliation against other union leaders, according to a ...
UAW has asked for an immediate 20 percent raise and yearly gradual increases totaling an hourly pay increase of 46 percent, the restoration of traditional pension payment plans and retiree health care, a four-day workweek, job protections, and a beneficial transition to electric vehicles. [28]
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