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Welcome to the GM Retirees Association Website The General Motors Retirees Association is the nations largest advocacy organization devoted to the preservation of pension, healthcare, and other benefits earned by GM retirees through their years of labor and loyalty to GM. GMRA stands for the fair treatment of all GM retirees, including the salaried retirees not already represented by the United Auto Workers. GMRA collaborates with the National Retirees Legislative Network (NRLN).
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President´s Corner
ALERT GMRA has been informed by several GM retirees that they have been contacted by
GALLUP, a polling organization, asking GM retirees if they would accept a lump
sum “pension buyout” by GM, in lieu of a monthly pension benefit. GMRA does not know who commissioned the poll
by GALLUP.
As you may or
may not know, Ford Motor Company, on Friday, April 27, Ford announced that they
will be offering Ford retirees a lump sum “pension buyout” versus a
“monthly pension”
Ford Motor
Company did not release the details of their plan. Since there are many factors to be considered
for accepting a lump sum “pension buyout”, it is impossible for GMRA to
recommend any formula for acceptance or refusal of a lump sum “pension buyout”.
Any “pension
buyout” is based on a retirees’ monthly pension, their age, their spouses’ age
and their monthly retiree benefit. GMRA
reminds anyone considering a lump sum payment that a lump sum payment will
affect their taxable income for the one to five years that the individual takes
a lump sum payment.
GMRA has no
knowledge that GM is planning on offering a “lump sum” pension buyout for GM
retirees.