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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. ... may penalize the pension fund if too many people ...
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
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 ...
The UAW expanded its scope to include workers in other major industries such as the aerospace and agricultural-implement industries. The UAW disaffiliated from the AFL–CIO on July 1, 1968, after Reuther and AFL–CIO President George Meany could not come to agreement on a wide range of policy issues or reforms to AFL–CIO governance. [33]
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]
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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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