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Benefit Report November 2008

 

Healthcare Audit

Simply put – You Must Participate In This Audit If You Have Any Dependents On Your Insurance.

In early November all hourly enrollees, (active and retired), who have dependents on their health care policy will be mailed an audit package.  This is not simply verification by telephone or mail, but an “actual document audit.”  Enrollees will need to mail in copies of documents such as tax returns, marriage and birth certificates.  

 

It is very important you SAVE all information you receive, as the documents carry bar codes, which the auditors will use when you return required documentation.  Please take note of the importance of your immediate response.  If you do not respond to this audit, any eligible dependents will be terminated as of March, 1, 2009.  If you have questions about the audit process, call 1(888) 898-1101. 

Remember, dependents not on healthcare are not covered by Dependent Life Insurance.

 

Retirees

Christmas Bonus

UAW GM retirees and surviving spouses, whose retirement started before October 1, 2007, will receive a lump sum payment for December 2008.  This benefit will be calculated at $23.33 times years of credited service, with a minimum of $233.33 and a maximum of $700.  Surviving spouses will receive 65% of the retiree amount.

 

Active Only

Considering your options for the future?

1.      Visit www.myUAW-GMretirement.com 

          User Name: retirement

          Password:  prepost

2.      Call 1(800)489-4646 for a pension model

 

Check your total Credited Service at:

www.gmbenefits.com

If unable to get information on the website, call 1(800) 489-4646.

 

Future Layoffs and Your Pension

Contract Language  Pension Supplement, Article III

“An employee who is laid off and whose first day of absence due to such layoff is the first regularly scheduled work day in the January next following the last day worked shall be deemed to have been laid off on December 31 of the year in which the employee last worked.”

 

How this language is applied: Your Credited Service will continue in January with 40 hours per week during lay off and will continue through 2009.  This means on January 1, 2009, someone who has 29.8 years of Credited Service would need 2 tenths (255 hrs.) of a year more Credited Service or lay off to get 30.0 years.

 

255 hours divided by 40 = 6.38 or 7 weeks of layoff for a March 1, 2009 effective retirement date. (Any unused vacation hours from 2008 would get you there more quickly.)

 

Keep in mind an employee must receive pay from the corporation for 170 hours in a calendar year to generate this bank, so if employees laid off in December return to work the following year, they must be paid 170 hours before generating a new bank.