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Prudential completes pension transfer agreement with General Motors Co. NEWARK, N.J.--(BUSINESS WIRE)-- The Prudential Insurance Company of America, a Prudential Financial, Inc. company (NYS: PRU ...
By Jeff Karoub DETROIT -- General Motors Co. plans to freeze its U.S. pension plan for longtime white-collar workers and give all salaried employees annual bonuses but not pay raises in an effort ...
In an 8-K filing submitted by GM on Thursday, the automaker says it expects to take a $1.5 billion pre-tax charge, and up to $300 million in pre-tax, non-cash pension curtailment charges. GM said ...
Retirement plans are classified as either defined benefit plans or defined contribution plans, depending on how benefits are determined.. In a defined benefit (or pension) plan, benefits are calculated using a fixed formula that typically factors in final pay and service with an employer, and payments are made from a trust fund specifically dedicated to the plan.
Booth said that in the contract GM will offer three company special attrition programs (SAPs) from January 2024 through the life of the agreement that include a $50,000 lump sum pretax retirement ...
Many salaried workers at GM have resisted the return to the office policy. In September 2022, ... She said GM's plan still would include a more regular, in-person presence, but it would not ...
One of the most overlooked problems with Ford and General Motors in recent history was their massively underfunded pension plans. Consider that at the end of 2012 Ford's global pension plan was ...
In an email to GM's salaried workforce, the company outlined radical changes to how it will evaluate employee performance and pay out bonuses. GM changes salaried performance and bonus plan to ...