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The United Auto Workers union is ... The union has also won improved pension benefits for senior workers who have a traditional pension plan, and increased company contributions to 401(k) accounts ...
One of the benefits negotiated by the United Auto Workers was the former jobs bank program, under which laid-off members once received 95 percent of their take-home pay and benefits. More than 12,000 UAW members were paid this benefit in 2005. [48]
[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:
(Reuters) -Workers will receive a 19% pay hike over five years under an agreement with Volvo Group-owned Mack Trucks and the United Auto Workers, according to a summary of the tentative agreement ...
About 13,000 auto workers have walked off the job at three targeted factories after their union leaders couldn't reach a deal with Detroit's automakers. The United Auto Workers union is seeking ...
These costs can be attributed to worker pensions and healthcare programs the unions have negotiated. The number of UAW members at GM has also steadily decreased as the company downsized. At the time of the 2007 strike, the 73,000 workers at GM are far lower than the 400,000 workers GM employed when the UAW last went on strike in 1970. [2]
There would also be improved retirement benefits for senior workers who have traditional pension plans and larger company contributions to the 401(k) plans of workers hired since 2007.
UAW workers hired after 2007, for example, are granted 401(k)s instead of defined pensions. In 2021, workers at health care giant Kaiser Permanente and the cereal maker Kellogg authorized strikes ...