Wages and Pensions

Ford seeks more pension stability after funding shortfall widens

12:34 am U.S. ET | March 16, 2013
Ford, moving to close a growing deficit in its pension funding, will shift more of its plan's assets to fixed income to shield against changes in interest rates.... Read More »

 

GM in talks with UAW on lump-sum offer for hourly retirees

5:12 pm U.S. ET | Jan. 9, 2013
GM is in discussions with the UAW on offering lump-sum pension payouts to hourly retirees in the United States. GM CEO and Chairman Dan Akerson made a comment on the discussions at a briefing with reporters today at the company's headquarters in Detroit.... Read More »

 

Bill would restore salaried Delphi retirees' pensions

12:19 pm U.S. ET | Sept. 12, 2012
An Ohio senator wants to give $1 billion from a General Motors stock sale to salaried Delphi Automotive retirees who lost much of their pension coverage during the supplier's bankruptcy proceedings, but the Delphi Salaried Retirees Association says it prefers another solution.... Read More »

 

Auto supplier misused $34.6 million in pension funds, U.S. alleges

10:03 am U.S. ET | Aug. 21, 2012
The federal Department of Labor earlier this month filed suit against Michigan auto supplier Metavation LLC and its chairman and director, George Hofmeister, to restore $34.6 million to two pension funds.... Read More »

 

MANAGEMENT BRIEFING SEMINARS

Ford: 2-tier wages should be 'permanent solution'

12:01 am U.S. ET | Aug. 13, 2012
The top global manufacturing executive at Ford Motor Co. said he wants the Detroit 3's two-tier wage system, in which some hourly workers earn lower pay and benefits than others, to remain in place permanently.... Read More »

 

GM to send pension buyout checks to retirees in late August

5:55 pm U.S. ET | July 24, 2012
GM plans to make lump-sum pension payments in late August to white-collar retirees who have decided to take a buyout and forego a monthly pension check, a key step in GM's plan to bolster its balance sheet.... Read More »

 

CHRISTINA ROGERS

In Washington, a classic debate over pay for dealership service advisers

12:01 am U.S. ET | July 22, 2012
Attention dealership service advisers: A regulatory tussle is developing in Washington that could affect your paychecks.... Read More »

 

China swoops down on GM pension plan's assets, report says

11:17 am U.S. ET | July 19, 2012
GM's underfunded pension plan has found a buyer for some of its private equity assets -- the Chinese government, which is willing to pay between $1.5 billion and $2 billion, the Financial Times reported on its website.... Read More »

 

Pension or buyout? GM retirees make the tough call by Friday

10:49 am U.S. ET | July 17, 2012
Is it better for existing retirees to convert their pension to an annuity or to take a lump sum payout? That is the tricky choice thousands of former General Motors employees must make by Friday, July 20. It is also a decision that many more workers will make as other companies such as Ford move expensive pension plans off their balance sheets. Here are four individual stories.... Read More »

 

Ford retirees group criticizes lump-sum payment offer

2:46 pm U.S. ET | June 27, 2012
A group of Ford retirees is calling for rejection of the automaker’s offer of a lump-sum payment instead of monthly pension checks, The Detroit News reported today.... Read More »

 

GM retiree group rips plan to unload pension plan

3:38 pm U.S. ET | June 15, 2012
A group representing General Motors’ salaried retirees has sharply criticized GM’s plan to replace their pensions with an annuity handled by an insurance company.... Read More »

 

Akerson says GM is tackling biggest problems: Europe, pension obligations

9:55 am U.S. ET | June 12, 2012
GM CEO Dan Akerson said today that the automaker is tackling its problems in Europe and its massive pension obligation as it seeks to revitalize its sagging share price. Speaking to reporters before GM's annual shareholders meeting at the automaker's headquarters in Detroit, Akerson cited its European problems, pension obligation and the overall threat of the European debt crisis as the main drags on GM's stock.... Read More »

 

Ford readies first set of landmark pension buyouts

12:01 am U.S. ET | June 2, 2012
Ford will pursue its boldest attempt yet to tackle a nearly $50 billion risk to its business when it begins offering lump-sum pension payout offers to 98,000 white-collar retirees and former employees this summer.... Read More »

 

GM offers pension buyout to salaried workers

2:36 pm U.S. ET | June 1, 2012
General Motors said today that it will offer a lump-sum pension buyout to one-third of its retirees in the United States and shift the remaining retirees to a group annuity run by an outside administrator. GM said the moves should reduce its pension liability in the United States by about $26 billion.... Read More »