Retirees Gain in New GM Contract

We ratified our GM agreement October 22, 2008. IUE-CWA did not forget our current GM retirees. We'll get dates from GM on time frame for these increases, which will be sent to our retirees retroactive to October 1, 2007. 

CURRENT RETIREES

Basic Benefit and 30-and-Out Supplement

The IUE/CWA retirees and surviving spouses who retired prior to Oct.1, 2007. In this  agreement, the basic benefit rate has been increased by $2 per month per year of credited service. Those retirees receiving a 30-and-out supplement will receive a $120 increase in the total amount payable to them, inclusive of the basic benefit rate increase. All increases are effective Oct. 1, 2007.

Temporary Benefit and Interim Supplement

Retirees receiving a temporary benefit will receive an increase of $1 per month per year of credited service, to a maximum of $30 per month. Retirees receiving an interim supplement will receive an increase of 95 cents per month per year of credited service, reduced if retirement was before age 60. These will be paid in addition to the increased basic benefit.

Special Survivor Option

Benefits under the special survivor option will be increased from $13.10 to $14.10 per month per year of credited service, effective October 1, 2007.

Retiree Health Insurance

Effective January 1, 2009, all retirees will be switched to the Traditional Care Network and will no longer be eligible for the HMO or PPO options.

Retiree Lump-Sum Bonus

IUE-CWA GM retirees and surviving spouses, whose benefit started before October 1, 2007, will receive four lump-sum payments during the proposed agreement. A flat lump-sum payment of $700 ($455 for eligible surviving spouses) was paid to retirees on March 17, 2008. Lump-sum payments will be made in December 2008, December 2009 and December 2010. The payments will be $23.33 times years of credited service, with a minimum of $233.33 and a maximum of $700. Surviving spouses will receive 65 percent of the retiree amount. Examples are as follows:

Social Security "Age Creep" Patch

The Social Security "age creep" adjustment, first negotiated in 1999, is extended through this agreement. Current and future retirees, who were born prior to September 15, 1949, will continue to receive supplements or temporary benefits to which they are entitled until they reach age 63, their so-called 80 percent date, rather than age 62..

Delphi "Gap" Issues Resolved

Your bargaining team was determined to further protect former GM workers impacted by the Delphi spin-off. As a result, under this proposed agreement these workers, both active and retired, will receive the same pension increases, pension lump sums, and Social Security "creep" benefits as similar GM workers.