Effective Jan. 1, GM will freeze the accrued pension benefits for U.S. salaried employees, reports the Associated Press. Salaried employees hired on or after that date will move exclusively to a defined contribution plan, and GM will contribute a certain amount to their 401(k). Salaried employees hired before Jan. 1 will remain in a defined benefit plan but will get reduced benefits under a new formula.
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03/08, 4:38 PM
posted by:
Thing2
digitalzombie, the reason CEOs can’t build good cars is because they have to go to the Union Leaders for their approval for EVERYTHING…If they need to convert a plant to something else, the Union Leaders say no because they’ll lose money although it is healthy for the company. Then GM is forced to rethink their original plans and cut back spending on guess what? THE CARS! So they’ll cut corners on the production cars, producing crap..
THANK THE UNION LEADERS, for **** cars