Wednesday, November 22, 2006

Message from Ron Gettelfinger concerning online Q&A

Yesterday in the online discussion, a question came in as follows:

kokomo, in: I am a GM retiree and recently heard that GM employees and retirees were to receive a bonus in December is this true and if so how much is the bonus?
Ron: Yes. $800.

My answer was directed specifically to General Motors retirees. I inadvertently focused on retirees and did not notice the word "employees" in the question. Below is the language from the September 2003 UAW GM and Delphi Report.

Retirees, Surviving Spouses Get 4 Lump-Sum Payments
To protect against projected inflation, current UAW GM and Delphi retirees and surviving spouses will receive four lump-sum payments of $800 during the life of the proposed agreement in December of each year starting with December 2003. Surviving spouses will receive a payment of 65 percent of this amount, or $520. Beginning in 2004, retirees who have an outstanding Extended Disability overpayment will have their lump-sum payments reduced by 35 percent until the overpayment is made.

The answer has been modified on the discussion page to address the entire question.

I apologize to active GM employees for any confusion my response may have caused.