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Articles by Mike Colias

General Motors Retiree Group Rips Plan to Unload Pension Plan

June 15, 2012
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The General Motors Retirees Association, in a June 13 letter addressed to GM CEO Dan Akerson and posted on the organization’s website, says it’s concerned that GM’s plan to shift the pension plan for white-collar retirees to Prudential Insurance Co. of America will eliminate federal insurance of their pension income.
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GM CEO: We're Tackling Biggest Problems—Europe, Pension Obligations

June 13, 2012
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General Motors Corp. CEO Dan Akerson also said he would consider offering a pension buyout to GM's more than 400,000 hourly retirees and dependents as a way to reduce the $134 billion pension obligation on its books, which Akerson said is the largest of any U.S. company. This month, GM said it will offer a buyout to some of its salaried retirees.
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Employee Bonuses Driven By Customer Loyalty at General Motors

June 8, 2012
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For 2012, salaried workers in North America will get a year-end bonus if GM hits an internal customer-retention goal. But it is inside GM's 650-person field sales division that the customer-centric pay structure probably reflects the most striking departure from GM's past.
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General Motors Co. Offers Pension Buyout to Salaried Workers

June 1, 2012
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General Motors Co., in a statement, said the moves should reduce its U.S. pension liability by about $26 billion, a major step in its bid to reduce the $134 billion pension obligation on its books, which GM says is the largest pension liability for any U.S. corporation.
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GM to Phase Out Salaried Pensions, Shift Workers to 401(k) Plan

February 15, 2012
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About 70 percent of General Motors' 26,000 salaried U.S. workers are enrolled in a defined benefit, or traditional, pension plan. Those workers will be shifted to a 401(k) plan starting on Oct. 1, said Cindy Brinkley, GM's vice president of global human resources.
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