GM Retirees Association - Working for You

Working for You

The GMRA team is working hard to protect GM retiree pensions and what remains of our retirement benefits. The following list is to keep you updated on our work in progress, accomplishments, and the challenges we face.

GMRA Activities

Incorporated GMRA as a Michigan non-profit social welfare organization (2009). Recruited thousands of GM retirees as members. GMRA is a nation-wide organization with members in 50 states.

GMRA leaders are reaching out to GM Retiree Clubs in order to pursue ways we can work together to accomplish our mutual goals as GM retirees. GMRA encourages Club leaders to connect with us.
Established a working relationship with GM as an official interface on behalf of GM retirees.

GMRA is in ongoing dialogue with GM representatives, including face-to-face meetings and conversations with GM representatives to discuss retiree pension and benefit issues and concerns. We are working together to identify new programs and opportunities for GM retirees and to surface and resolve retiree issues.
GMRA is making every effort to ensure GM is aware of the growing disappointment and distrust of GM by retirees. The result of the drastic benefit cuts and GM’s disregard for the commitment to a “Total Compensation” package that included continued health care and other benefits continuing through retirement years is influencing the purchasing decisions of GM retirees.
As a result of joint GM/GMRA discussions, GM conducted a benchmarking study to determine the best dental discount options for retirees. The discount dental information is available on the U.S. Socrates Retiree website. Visit the GM Socrates Retirees website for more information: https://www.gmretiree.com/GM-Retiree-Home.
Discussions with GM included the need for a GM retiree website that would include two-way communication in order to address retiree issues quickly. Input from members indicated they were experiencing unreasonably long wait times and inaccurate information when contacting the GM Benefits & Services Center (Fidelity). According to GM representatives, retiree servicing will be addressed with Fidelity.
GMRA suggested a COBRA program for retirees, similar to the COBRA program available to all represented retirees for Dental and Vision Care. GM’s Human Resources representatives have determined it is not feasible.

A special vehicle purchase discount incentive program for retirees was discussed with GM and GMRA provided input and recommendations. Discussion indicated a program might be developed. At this time we have no update on the status or timing of any retiree vehicle purchase program.

GMRA is actively involved in working with NRLN and their lobbying efforts for legislative reform and new legislation to protect the pensions and benefits of retirees. Current pension laws lack in clarity and are, in fact, often cited as an expense (overhead) and used against retirees. Specifics on the Legislative Agenda are available at the GMRA website at: http://www.gmret.org/agenda.php.

In September 2010, GMRA representatives traveled to Washington, D.C., to support NRLN and other retiree associations with promoting retiree rights, including legislative reform that would protect pensions. In one day on Capitol Hill, GMRA representatives met with eight different Senators and Congressional Representatives and their staff in a series of pre-scheduled meetings. We voiced the need for their support of equitable treatment of retirees.
Citing GM’s use of pension fund assets for non-pension business operating expenses as one example, we raised awareness of our concerns and the need for new legislation that would stop company use of pension assets to pay lump-sum severance or layoff payments or corporate business expenses.
The GMRA Grassroots network supported letter-writing campaigns and participated in local visits with Congressional representatives to encourage their support for protecting the interests of retirees.
GMRA leaders met with the Pension Benefit Guaranty Corporation (PBGC) and its staff on three occasions to discuss GM retiree issues and concerns.

Actively pursued new opportunities to create awareness of GM retiree concerns, including an organized demonstration during the Presidential visit to Michigan, press releases and media outreach and interviews.

Consulted with professional legal counsel on current issues and matters of interest to GM retirees.

GM pension fund status

Given the economic chaos and financial downturn, there is concern and lack of confidence that funding levels are stable, based on discussions with the PBGC.
A full analysis of the GM pension fund was compiled and posted to the GMRA website at www.gmret.org, and is available online to GMRA dues-paid members. The analysis is based on a GM pension filing of the last five years, through Sept. 30, 2007. An update to the GM pension fund analysis is in progress, based on recent information provided to us that includes GM filings through Sept. 30, 2008. The updated analysis will be available on the GMRA website, to dues-paid members, when it is completed.

Meetings with the PBGC Senior Staff

GMRA leaders met with PBGC officials during the September 2010 Fly-in visit, including an introduction to the newly appointed director, Joshua Gotbaum, who has responsibility for the agencys management, personnel, organization, budget and investments.
Discussions with the PBGC officials included our concerns for the lack of valid and timely GM financial reporting data and concerns for the overall viability of the GM pension fund.
Conversations with the PBGC staff confirm that the best scenario for GM pension plan participants is a fully funded pension fund. Also, GM’s financial reporting schedule needs to be accelerated in order to validate the status of the GM pension fund. We intend to elevate this issue as a legislative initiative of the NRLN.

Support for NRLN White Paper development to protect the interests of retirees, the first step in introducing new legislation into bills. Two White Papers were recently completed on Corporate Bankruptcy Reform and PBGC Reform. The PBGC White Paper was presented to the Pension Benefit Guarantee Corporation, the House Education and Workforce Committee and the House Ways and Means Committee in September. Full text of both White papers is available online at: http://www.nrln.org/_pvtflyin.html

We appreciate the feedback we receive from members and encourage you to stay in touch with GMRA to help us identify areas where we need to focus our activities. You can reach us at the Contact Us option on the GMRA website: www.gmret.org.