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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. ... rule that may penalize the pension fund if too many ...
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 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
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]
In September 1949, to avoid a strike, Ford agreed to pay $20 million a year to pay the entire cost of pensions. Workers with 30 years' service would receive $100 a month. Ford agreed that the pension plan would be both fully funded and actuarially sound. [13] After its success with Ford, the UAW moved on to Chrysler. While Chrysler was willing ...
This list of largest pension funds in the United States involves two main groups: government pension funds for public employees and collectively bargained pension funds, jointly managed between employer and employee representatives after the Taft-Hartley Act of 1947.
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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]