Search results
Results from the WOW.Com Content Network
The Detroit Free Press has learned more details on when GM and the UAW will start the first phase of the $50,000 retirement buyout program. ... March 1. UAW Local 14 President Tony Totty, who ...
It was a plan sweetened by a special attrition retirement program GM agreed to in the United Auto Workers' contract negotiated last fall. The program will pay a pretax lump sum of $50,000 to ...
The UAW expanded its scope to include workers in other major industries such as the aerospace and agricultural-implement industries. The UAW disaffiliated from the AFL–CIO on July 1, 1968, after Reuther and AFL–CIO President George Meany could not come to agreement on a wide range of policy issues or reforms to AFL–CIO governance. [33]
Fraser was elected president of UAW Local 227 in 1943, and served in the US Army during World War II. [3] [4] [5] After the war, Fraser quickly rose through the ranks in the UAW. He was appointed an international representative in 1947. [3] During a difficult 104-day strike at Chrysler in 1950, he deeply impressed UAW staff with his negotiating ...
Reuther believed that retirement did not end a worker's association with a union, and workers deserved a lifelong pension. [7] Reuther was adamant that the pension plans be fully funded, actuarially sound (the amount set needed to be set to the life expectancies of the pensioners), and noncontributory, with the full cost borne by the company. [8]
For premium support please call: 800-290-4726 more ways to reach us
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.
The UAW said the agreement commits GM to more than $11 billion in additional manufacturing investments that was already planned. Most of it is related to EV production. A $50,000 retirement incentive