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According to a UAW leader, GM and the union expect to have details and dates this month for the first phase of a special retirement program. Letter indicates GM and UAW closing in on dates for ...
The November election won't impact the 2025 Social Security increase. However, it could affect future COLAs. Social Security COLAs could end up higher if Trump is elected -- but there's a big ...
This means production workers at Ultium Cells will see an immediate pay increase of $6 to $8 an hour upon ratification and all hourly and salaried employees, including those at GM's parts ...
By 1994, "Pennsylvania's state pension funds [had] the most active program of in-state investments in the country," according to the Richmond Times-Dispatch, which also noted that Pennsylvania's pension system had "committed $259.5 million to venture capital funds that invest in the state or in out-of-state companies that create jobs in ...
In many states, public employee pension plans are known as Public Employee Retirement Systems (PERS). Pension benefits may or may not be changed after an employee is hired, depending on the state and plan, as well as hiring date, years of service, and grandfathering. Retirement age in the public sector is usually lower than in the private sector.
In 2009, the state had a $3.3 billion (~$4.56 billion in 2023) budget deficit, with twenty-four year term State Rep. Edward G. Staback stating at the time that, "It is probably the worst I have ever seen." [10] Governor Rendell proposed an increase of 16% in the state's personal income tax and $72 million in cuts to balance the budget. [11]
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 of workers hired since 2007.
On February 18, 2009, General Motors and Chrysler again approached the U.S. government, in regard to obtaining a second bridging loan of $21.6 billion (£15.2 billion). $16.6 billion of this would go to General Motors, while Chrysler would take $5 billion. General Motors agreed to shed 47,000 jobs, close five plants, and axe 12 car models.