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For retirees, GM has agreed to make five payments of $500 to current retirees and surviving spouses, the first such payments in over 15 years. Like the other two, the GM deal includes a right to ...
"Next year, GM will increase base pay and company matching for 401(k) plans, as well as offer enhanced healthcare benefits.” The added 401(k) contribution to salaried employees reflects the ...
The UAW says about 7,800 GM hourly workers are eligible for retirement at the moment. At Toledo Propulsion there are about 1,350 hourly employees and about 200 of them want to retire now, but UAW ...
General Motors hourly workers — who've been waiting since November to learn when they might take advantage of a $50,000 retirement program — will get some answers on Monday, according to a ...
In addition to offering employees a profit-sharing retirement plan, it offers pretax and after-tax 401(k) plans with a company match. Employees get a 100% match of contributions of up to 3% of ...
Its 401(k) plan provides employees with both a match and GM retirement contributions. According to one employee on Glassdoor , "(The) company contributes minimum 4% toward the 401(k) plan ...
Unlike traditional pension plans, in which the employer promises a specified monthly benefit at retirement, 401(k) plans are funded by contributions deducted directly from the employee’s paycheck.
Here's the average 401(k) balance for retirees age 65 and older. While the average 401(k) balance across all age groups stood at $134,128 at the end of 2023, it's those 65 and older who lead the ...