Annual Report — [x] Reg. S-K Item 405 — Form 10-K
Filing Table of Contents
Document/Exhibit Description Pages Size
1: 10-K405 Annual Report -- [x] Reg. S-K Item 405 93 540K
2: EX-10.(A) Material Contract 123 261K
3: EX-10.(B) Material Contract 162 358K
4: EX-11 Statement re: Computation of Earnings Per Share 3 24K
5: EX-12 Statement re: Computation of Ratios 1 8K
6: EX-18 Letter re: Change in Accounting Principles 1 8K
7: EX-21 Subsidiaries of the Registrant 9 55K
8: EX-23 Consent of Experts or Counsel 2± 12K
9: EX-27 Financial Data Schedule (Pre-XBRL) 1 10K
10: EX-99.(A) Miscellaneous Exhibit 26 153K
11: EX-99.(B) Miscellaneous Exhibit 32 182K
EXHIBIT 10(a)
Supplemental
Agreement
Covering
PENSION PLAN
EXHIBIT A
TO
AGREEMENT
BETWEEN
GENERAL MOTORS CORPORATION
AND
UAW
DATED
OCTOBER 24, 1993
TABLE OF CONTENTS
[Download Table]
PAGE NO.
Index to Exhibit A and Exhibit A-1 (ii)
Exhibit A -- Supplemental Agreement
Between General Motors
Corporation and the UAW
(Pension Plan) (1)
Exhibit A-1 -- The General Motors
Hourly-Rate Employees
Pension Plan 1
(i)
INDEX TO
EXHIBIT A -- SUPPLEMENTAL AGREEMENT BETWEEN
GENERAL MOTORS CORPORATION
AND THE UAW (PENSION PLAN)
EXHIBIT A-1 -- THE GENERAL MOTORS HOURLY-RATE
EMPLOYEES PENSION PLAN
[Download Table]
PAGE NO.
Actuary:
Appointment of (3)
Certification by (3)
Administration, General (11), 50-51
Amendment, Provision for (2), 60-61
Appendix A -- Benefit Class Codes 69-70
Appendix B -- Foundry Jobs 71-76
Appendix C -- Asbestos Jobs 77
Approval of Plan
(See "Plan, Approval of")
Asbestos Jobs:
Definition of 77
Asbestos Service,
Credited Service for 46
Base Hourly Rate 66-67
Basic Benefit 67
Basic Benefit Applicable to:
Benefits Commencing Prior to
October 1, 1993 19-22, 26-28
Deferred Pensions 54-57
Early Retirement 6-9
ERISA Minimum 8
Normal Retirement 6
Total and Permanent Disability
Retirement 6
Benefit Class Code 69-70
Board of Administration:
Applicability of 3(c) Agreement (10)-(11)
Appointment of Members (5)
(ii)
INDEX--CONT'D.
[Download Table]
PAGE NO.
Functions (9)-(11)
Information Furnished by Corporation (6)-(9)
Liability Members (11)
Pay and Expenses of Members (6)
Retroactive Adjustments (9)
Time of Meeting (6)
Voting (6)
Chairperson, Impartial:
Appointment of (9)-(10)
Compensation of (10)
Term of Office (10)
Voting (10)
Contributions:
General Provisions (3)-(5), 48-49
Service, Current (3)
Service, Prior (4)
Time of Payment (3)-(5)
Credited Service, Subsequent to
Effective Date of Plan:
Computation 34-40
During Layoff or Disability Leave 35-36, 38-39
Limitation of 39-40
Military Service 37
Occupational Disability Absences 36-37
Prior Service as Salaried Employee 37
Reinstatement of 40
Credited Service, Asbestos 46
Credited Service, Credit Union (12)
Credited Service, Equal to Seniority 40
Credited Service, Foreign Subsidiary 41
Credited Service, Foundry (14), 41-43
Credited Service, Loss of 40
Credited Service, Reinstatement of 40
Credited Service, Union Leaves of
Absence (12)
(iii)
INDEX--CONT'D.
[Download Table]
PAGE NO.
Deduction For:
Benefit Plan(s) Overpayments 59
Dependent Life Insurance 58
Income Tax 58
Medical Expense Coverage 58
Optional Life Insurance 58
Union Dues (13)-(14)
Deferred Pension:
Benefits, Determination of 54-57
Eligibility 54
If Reemployed 56-57
Minimum Vesting Standards-ERISA 43-46
Definitions 64-68
Dependent Life Insurance 58
Discharged Employee 9, 13
Disciplinary Action
(See "Employment Rights")
Duration of Agreement (15)
Employee, Definition of 64-65
Employment Rights (12)-(13), 59
Establishment of Fund (3)
Establishment of Plan
(See "Plan, Establishment of")
Federal Social Security Benefit:
Definition of 66
Fiduciary, Named-ERISA 60
Financing (3)-(5), 48-49
Foundry Jobs:
Designation of 71-76
Foundry Service, Credited Service for 41-43
Guaranteed Income Stream Benefits 53
Grievance Procedure:
Non-Applicability of (11)-(12)
(iv)
INDEX--CONT'D.
[Download Table]
PAGE NO.
Income Tax (See "Plan, Approval of:
Internal Revenue Service")
Insurance Company or Trustee:
Definition of 65
Designation of (3)
Insured Fund, Definition of 66
Layoff or Disability Absence:
Credited Service During 35-36, 38-39
Leaves of Absence:
Union (12)
Military Service 37
Letter Agreements 87-95
Liability of Corporation (5), 48-50
Limitation of Benefits 60
Lump-Sum Payment 90-91
Medical Expense Benefit Coverages 58
Merger or Consolidation-ERISA 64
Military Service, Credited Service for 37
Modification, Provision for (1)-(2), 60-61
Optional Life Insurance 58
Pension Fund, Definition of 66
Pension Payments:
General Provisions 51-54
Non-Alienation of 57-59
To Persons Other Than Pensioners 53
Plan, Approval of:
Board of Directors (1)-(3), 60
Internal Revenue Service (1)-(2), 59
Plan, Duration of (15)
Plan, Establishment of (1)-(3), 3-4
Plan, Termination of 61-64
(v)
INDEX--CONT'D.
[Download Table]
PAGE NO.
Pre-Retirement Survivor Coverage-REA:
Duration 32-33
Effective Date 32-33
Eligibility 32-34
Payment 32-33
Qualified Domestic Relations Order-REA 9, 27, 33, 57
Reemployment (13), 40, 52-53, 66
Retirement, Early:
Benefit Options 4
Benefits, Determination of 6-9
Benefits, Payment of 51-54
Benefits, Redetermination of 7
Eligibility 4
Mutual Retirement Standards 78-79
Reduction for Age 7
Retirement, General (12)-(13)
Retirement, Normal:
Benefits, Determination of 6
Benefits, Payment of 51-54
Eligibility 4
Retirement, Total and Permanent Disability:
Benefits, Determination of 6
Benefits, Payment of 51-54
Disability, Determination of 5
Eligibility 5, 51, 57
Recovery From (12)-(13), 5, 17, 52-53
Seniority (See "Credited Service")
Seniority, Definition of 66
Seniority, Equal to Credited Service 40
Social Security Benefits:
Redeterminations for 47
Special Benefit 18-19
Standards for Application of Provisions
for Mutually Satisfactory Retirement 78-79
Statement of Intent-Representation 80-85
(vi)
INDEX--CONT'D.
[Download Table]
PAGE NO.
Supplement, Early Retirement:
Benefits, Determination 13-14, 16-17
Earnings Limitation 17
Eligibility (13), 13-14
Limitation of 70% of Final Pay 18
Payment of 14, 51-54
Penalty Against 16-17
Recovery if Overpaid 17
Redetermination if Commenced
Prior to October 1, 1993 25
Waiver of Earnings Limitation,
Mutual Retirement 17
Supplement, Interim:
Benefits, Determination of 14-15
Earnings Limitation 17
Eligibility (13), 13-14
Limitation of 70% of Final Pay 18
Payment of 15, 51-54
Penalty Against 16-17
Recovery if Overpaid 17
Redetermination if Commenced
Prior to October 1, 1993 25
Supplemental Pension Agreement:
Conflicts With Plan (1)
Date of (1)
Duration of (15)
Parties to (16)-(17)
Surviving Spouse Benefits:
After Employee's Retirement 9-13
Before Employee's Retirement 12-13
Cancellation Because of Death
or Divorce 9-10, 26
Effective Date 10-11
Election to Receive Full Amount
of Future Increases 26-27
Joint and Survivor-ERISA 28-31
Reduction of Basic Benefit 11-12
Rejection of Coverage 10-11, 29
Special Survivor Option 26
(vii)
INDEX--CONT'D.
[Download Table]
PAGE NO.
Spouse Consent 10-11, 29
Upon Marriage or Remarriage
After Retirement 27-28
Temporary Benefit Applicable to:
Benefits Commencing Prior to
October 1, 1993 22-24
Early Retirement 8-9
Total and Permanent Disability
Retirement 8
Termination of Plan
(See "Plan, Termination of")
Trust Fund:
Definition of 66
Establishment of (3), 48-49
Irrevocability of 50
Trustee, Duties of (3)
Trustee or Insurance Company:
Definition of 65
Designation of (3)
Union Dues, Deduction of (13)-(14)
Vesting (See "Deterred Pension")
Wage Inequity Adjustments 21
Widow's Benefits
(See "Surviving Spouse Benefits")
Workers Compensation:
Deductions for Receipt of 47-48, 89
(viii)
EXHIBIT A
SUPPLEMENTAL
AGREEMENT
(PENSION PLAN)
A, Sect.1
SUPPLEMENTAL AGREEMENT
(PENSION PLAN)
On this 24th day of October, 1993, General Motors Corporation, hereinafter
referred to as the Corporation, and the International Union, United Automobile,
Aerospace and Agricultural Implement Workers of America, hereinafter referred
to as the Union, on behalf of the employees covered by the collective
bargaining agreement of which this Supplemental Agreement becomes a part, agree
as follows:
SECTION 1. ESTABLISHMENT OF PLAN
Subject to the approval of its Board of Directors, the Corporation will
establish an amended pension plan, hereinafter referred to as the Plan, a copy
of which is attached hereto as Exhibit A-1 and made a part of this agreement to
the extent applicable to the employees represented by the Union and covered by
this agreement as if fully set out herein, modified and supplemented, however,
by the provisions hereinafter. In the event of any conflict between the
provisions of the Plan and the provisions of this agreement, the provisions of
this agreement will supersede the provisions of the Plan to the extent
necessary to eliminate such conflict.
The Plan, as set forth in Exhibit A-1, and the Plan as it may be modified and
supplemented by superseding provisions of this agreement, as above provided,
are both contingent upon and subject to obtaining and retaining such approval
of the Commissioner of Internal Revenue as the Corporation may find necessary
to establish the deductibility under Section 404 of the Internal Revenue Code
for income tax purposes of any and all contributions made by the Corporation to
both plans and to establish the plans and related trust as being qualified and
tax exempt under Sections 401 and 501(a) or other applicable provisions of the
Internal
(1)
A, Sect. 1
Revenue Code. Any modification or amendment of either the Plan, or the Plan as
modified and supplemented by this agreement, may be made retroactively by the
Corporation with the consent of the Union, if necessary or appropriate, to
qualify or maintain the Plan as a plan and trust meeting the requirements of
Sections 401 and 501(a) of the Internal Revenue Code, as now in effect or
hereafter amended, or any other applicable provisions of the federal tax laws,
as now in effect or hereafter amended or adopted, and the regulations issued
thereunder, provided that pension benefits under the Plan are not diminished.
Until the Plan is approved by the Corporation's Board of Directors and by the
Commissioner of Internal Revenue, all as hereinbefore provided, the benefits
payable shall be only those determined under the Plan as constituted prior to
October 1, 1993; provided, however, that following approval by its Board of
Directors and its receipt of the favorable ruling from the Commissioner of
Internal Revenue as set forth above, the Corporation or the trustee will pay to
retired employees and surviving spouses any excess amounts equal to the
difference between the monthly pension calculated in accordance with the terms
of the Plan, attached hereto as Exhibit A-1, and the monthly pension paid or
payable in accordance with the terms of the Pension Plan which was attached as
Exhibit A-1 to the Supplemental Agreement (Pension Plan) between the Parties
dated September 17, 1990. Any such excess amounts payable for months prior to
the receipt of the aforementioned Board of Directors and the Commissioner of
Internal Revenue approvals, shall be payable the first of the month following
the date upon which the last of these two approvals is received by the
Corporation, and any such amounts payable thereafter shall be paid on the first
of the month at the same time as the related pension is paid.
In the event that the Plan is disapproved by the Board
(2)
A, Sect. 1
of Directors of the Corporation, the Corporation within thirty days after any
such disapproval will give written notice thereof to the Union and this
agreement shall thereupon have no force or effect. In that event the matters
covered by this agreement shall be the subject of further negotiation between
the Corporation and the Union.
SECTION 2. FINANCING
(a) A trustee or an insurance company, or both, shall be designated by the
Corporation, and a trust agreement or contract, or both, executed between the
Corporation and such trustee or insurance company, or both, under the terms of
which a pension fund or insured fund, shall be established to receive and hold
contributions payable by the Corporation, interest, and other income, and to
pay the pensions and supplements provided by the Plan.
(b) The Corporation agrees to pay over irrevocably to the trustee or
insurance company during the period of this agreement, contributions or
payments for the Plan equal to the sum of (i) and (ii) below as determined and
certified as of each anniversary of the effective date of the Plan by one or
more actuaries chosen by, but independent of, the Corporation, and qualified
through Fellowship in the Society of Actuaries and enrollment with the Joint
Board for Enrollment of Actuaries (hereinafter referred to as the Actuary).
Such contributions or payments for any year may be made not later than the date
on which such contributions are required by law to be made for the purpose of
crediting such contributions to such year under the minimum funding standards
of the Employee Retirement Income Security Act of 1974:
(i) the annual "current service" or "normal cost" contribution
attributable to a year's cost accruals in respect of assumed continuous service
after each such anniversary date, and
(3)
A, Sect. 2 (b)(ii)
(ii) the "prior service contribution" computed as that part of the present
value, at each such anniversary date, of the prospective pensions payable under
the Plan for employees, pensioners and former employees who are entitled to a
deferred pension then covered by the Plan which is in excess of:
(aa) the value of the trust fund, as then comprised of any contracts
and total other assets, invested and uninvested, such total assets being valued
on a basis at least equal to the total cost thereof, plus
(bb) the then present value of the prospective "current service" or
"normal cost" contributions determined by the Actuary in accordance with (i)
above,
such excess part being amortized according to the following schedule:
(1) in respect of the portion of such excess part attributable to
the level of benefits in effect prior to October 1, 1979 - the fifty-ninth
anniversary of the Corporation's pension plan (October 1, 2009), and
(2) in respect of the portion of such excess part attributable to
the increase in the level of benefits established by amendments to the
Corporation's pension plan effective on or after October 1, 1979 - the
thirtieth anniversary of the date on which such increase in the level of
benefits becomes effective.
(c) The Corporation may contribute or pay additional amounts to the
trustee or insurance company, or both, under (b) above in any year without such
additional amounts being construed to reduce any thirty-year period for the
completion of the "prior service contributions" of subsection (b)(ii) above.
If the Corporation has contributed any such additional amounts prior to any
anniversary date of the Corporation's pension plan or shall contribute any
(4)
A, Sect. 2 (c)
such additional amounts prior to any anniversary date of the Plan falling
within the duration of this agreement, the Corporation may as of such
anniversary, contribute a lesser amount than otherwise determined by (b) above
for such anniversary, provided that the value of any contracts and total other
assets as valued in accordance with (b)(ii)(aa) above at such anniversary shall
not be less than the amount estimated by the Actuary to be the value as if
contributions and payments up to and including such anniversary date had been
made as provided in (b) above and no additional amounts had been contributed or
paid prior to such anniversary.
(d) The Corporation by payment of the contributions or amounts as
hereinbefore provided in this section shall be relieved of any further
liability, and pensions and supplements shall be payable only from the trust
fund or the insured fund or both.
SECTION 3. ADMINISTRATION
(a) Board of Administration
(1) There shall be established a central Board of Administration
hereinafter referred to as the Board, composed of six members, three appointed
by the Corporation and three by the Union. Each member of the Board shall have
an alternate. In the event a member is absent from a meeting of the Board, the
alternate may attend and when in attendance shall exercise the duties of the
member. Either the Corporation or the Union at any time may remove a member or
alternate appointed by it and may appoint a member or alternate to fill any
vacancy among members or alternates appointed by it.
No person shall act as a member of the Board of Administration or as
an alternate for such member unless notice of the appointment has been given in
writing by the party making the appointment to the other party.
(5)
A, Sect. 3 (a)(2)
(2) The Board shall meet at such times and for such periods for the
transaction of necessary business as may be mutually agreed upon by its
members.
(3) To constitute a quorum for the transaction of business, the
presence of four members of the Board shall be required. At all meetings of
the Board, the member or members present appointed by the Corporation shall
have in the aggregate a total of one vote to be cast on behalf of the
Corporation, and the member or members present appointed by the Union shall
have in the aggregate a total of one vote to be cast on behalf of the Union.
(4) The compensation and expenses of the Corporation members will be
paid by the Corporation and the compensation and expenses of the Union members
will be paid by the Union and no part of such compensation or expenses will be
paid from the trust fund.
(5) The Corporation shall cause to be furnished to the Board of
Administration annually:
(i) A statement as of each anniversary date of the Plan showing in
summary form the value of the assets which comprise such fund by general
categories of investment, such value being determined on a basis at least equal
to the total cost thereof for each such category.
(ii) Such information as to age, sex and service of hourly-rate
employees of the Corporation as a whole in the United States and as to the
number of pensioners and amount of pensions and supplements by age groups, as
the Board may reasonably require, but in no event shall the Corporation be
required to furnish the Board with any data not furnished by the Corporation to
the Actuary.
(6)
A, Sect. 3 (a)(5)(iii)
(iii) A report, prepared by the Actuary, in respect of each year's
actuarial valuation of the Plan, setting out the following:
(a) the amount of the normal cost contribution and the amount
of the payment toward amortization of the actuarial deficiency required in
accordance with Section 2(b) hereof.
(b) a statement of the method and the assumptions, such as the
interest rate, mortality rates, withdrawal rates, retirement rates, average
benefit unit and assumptions used with respect to the survivor benefit, adopted
for the valuation for the purposes of Section 2(b) hereof.
(c) the amount, as of each anniversary date, of the gross
actuarial deficiency, determined in accordance with Section 2(b) hereof as the
present value of the prospective pensions payable under the Plan less the then
present value of the prospective normal cost contributions, if any, for (1)
retired employees, (2) employees who have separated with retention of deferred
pensions, (3) non-retired and non-separated employees, and (4) total.
(d) the amount of assets used in the actuarial valuation,
together with a reconciliation of the amount of such assets with the amount
used in the preceding valuation.
(e) the amount of the net (unfunded) actuarial deficiency.
(f) the amount by which the value of the trust fund exceeded
the amount then required by Section 2(b) hereof to be in such fund.
(g) the extent to which the trust fund assets as of the
valuation date would be sufficient to cover the pension liabilities, as
determined in accordance with SFAS 87.
(7)
A, Sect. 3 (a)(5)(iv)
(iv) A statement, certified by the Actuary, that the amount of the
trust fund is or is not less than the amount then required by Section 2(b)
hereof to be in such fund.
(v) A statement setting forth:
(aa) The value of the trust fund computed on the basis of
market value as of the previous anniversary date of the Plan.
(bb) Additions during Plan year:
(i) payments by General Motors into the fund
(ii) interest and dividends received by the fund
(iii) net investment gains, and
(iv) total additions.
(cc) Pension payments and supplements to retired employees and
surviving spouses during Plan year.
(dd) The value of the trust fund computed on the basis of
market value as of the anniversary date of the Plan for the year for which the
statement is being submitted.
(vi) A schedule setting forth as of March 31 of each year:
(aa) the amount of investment of the pension fund in
residential real estate mortgages, by type, in communities with General Motors
plants and in other communities,
(bb) the amount invested in such residential real estate
mortgages during the preceding year in comparison with total new money
investments during that year, and
(8)
A, Sect. 3 (a)(5)(vi)(cc)
(cc) a description of such residential mortgages in which
funds were invested during the preceding year, by type, separately by plant
city areas and in total for other areas.
(vii) A copy of Form 5500 reports and attendant schedules for the
Plan will be furnished as soon as practicable after General Motors has filed
such report with the Internal Revenue Service.
(6) The Board of Administration shall have no power to add to or
subtract from or modify any of the terms of this agreement or the Plan, nor to
change or add to any benefit provided by said agreement or Plan, nor to waive
or fail to apply any requirement of eligibility for a benefit under said
agreement or Plan.
(7) Any case referred to the Board of Administration on which it has
no power to rule shall be referred back to the parties without ruling.
(8) No ruling or decision of the Board of Administration in one case
shall create a basis for a retroactive adjustment in any other case prior to
the date of written filing of each such specific claim.
(9) There shall be no appeal from any ruling by the Board which is
within its authority. Each such ruling shall be final and binding on the Union
and its members, the employee or employees involved, and on the Corporation,
subject only to the arbitrary and capricious standard of judicial review.
The Union will discourage any attempt of its members and will not
encourage or cooperate with any of its members, in any appeal to any Court or
Administrative Board or Agency from a ruling of the Board of Administration.
(b) IMPARTIAL CHAIRPERSON
(1) The Corporation and the Union shall mutually
(9)
A, Sect. 3 (b)(1)
agree upon and select an Impartial Chairperson, who shall serve until requested
in writing to resign by three Board members.
(2) The Impartial Chairperson will not be counted for the purpose of a
quorum, and will vote only in case of a failure of the Corporation and the
Union by vote through their representatives on the Board to agree upon a matter
which is properly before the Board and within the Board's authority to
determine; provided that the Impartial Chairperson may vote only on matters
involving the processing of individual cases, not on the development of
procedures.
(3) The fees and expenses of the Impartial Chairperson will be paid
one-half by the Corporation and one-half by the Union.
(c) As soon as possible after the effective date of this agreement, the
Union and Corporation members of the Board of Administration shall work out
matters such as but not limited to: (1) procedures for establishing Local
Pension Committees at the Divisions or plants involved; (2) the authority and
duties of such Local Pension Committees; (3) the procedures for reviewing
applications for pensions; (4) the handling of complaints regarding the
determination of age, service credits, and computation of benefits; (5)
procedures for making appeals to the Board; (6) means of verifying service
credits to which employees are entitled under the Plan; (7) methods of
furnishing information to employees regarding past and future service credits;
(8) the amount of time the Union members of the local committees may be
permitted to leave their work to attend meetings of the Local Pension
Committees; (9) how disputes over total and permanent disability claims will be
handled, including disputes, if any, with respect to whether a disabled
pensioner engages in gainful employment; (10) the review of pertinent
information about the Plan
(10)
A, Sect. 3 (c)
for dissemination to employees; (11) how pension payments will be authorized by
the Board. All such matters shall be consistent with all other provisions of
the Plan and this agreement. The working out of the procedures outlined in
this section shall be the responsibility of the Corporation and Union members
of the Board, and the Impartial Chairperson shall have no power to decide any
question with respect thereto.
The provisions of Agreement Implementing Section 3(c) of the Supplemental
Agreement, Pension Plan, dated October 14, 1988 which were established by the
Board pursuant to the foregoing are incorporated herein by reference and are a
part hereof and effective with respect to the administration of the Plan as
fully as if set out herein at length.
(d) Except as provided otherwise in this agreement, the general
administration of the provisions of the Plan shall be the responsibility of the
Corporation.
(e) The Board and any member of the Board, or the Local Pension Committees
or any member of the Local Pension Committees, shall be entitled to rely upon
the correctness of any information furnished by the Union or the Corporation.
Neither the Board nor any of its members, nor the Local Pension Committees nor
any of its members, nor the Union nor any officer or other representative of
the Union, nor the Corporation nor any officer or other representative of the
Corporation shall be liable because of any act, or failure to act, on the part
of the Board or any of its members, or the Local Pension Committees or any of
its members or any person, except that nothing herein shall be deemed to
relieve any such individual from any liability for the individual's own fraud
or bad faith.
(f) No matter respecting the Plan as modified and supplemented by this
agreement or any difference arising thereunder shall be subject to the
grievance procedure established in the collective bargaining
(11)
A, Sect. 3 (f)
agreement between the Corporation and the Union, except as expressly provided
in Paragraph (46) of such collective bargaining agreement.
(g) Credited service shall be granted an employee who is absent from work
pursuant to Paragraph 24 of the National Agreement, or on a leave of absence
under Paragraph 109 of the National Agreement if the leave was granted for the
purpose of permitting the employee to engage in the business of or to work for
the Local Union, or if the leave was granted under Paragraph 109(a) of the
National Agreement for the purpose of permitting the employee to engage in the
business of or to work for the International Union while on such leave (an
employee on leave under the National Agreement solely to permit the employee to
be Manager of the credit union sponsored by the Local Union shall be included
hereunder, but only with respect to any period while serving in such capacity
while on such leave).
An employee eligible for credited service under this section shall be
credited with up to 40 hours for each calendar week since October 1, 1950 while
on such leave, including compensated hours, provided the employee meets the
requirements of the leave; but in no event shall the employee be credited with
more than 1700 hours, including compensated hours, in any calendar year.
SECTION 4. EFFECT OF RETIREMENT ON EMPLOYMENT STATUS AND SENIORITY
(a) An employee who retires or is retired under the terms of the Plan
shall cease to be an employee and shall have seniority canceled.
(b) An employee who has been retired on a total and permanent disability
pension and who thereby has broken seniority in accordance with subsection (a)
(12)
A, Sect. 4 (b)
above, but, who recovers and has such pension discontinued, shall have
seniority reinstated as though such employee had been on a sick leave of
absence during the period of such disability retirement, provided, however, if
the period of disability retirement was for a period longer than the seniority
the employee had at the date of retirement, the employee shall, upon the
discontinuance of such disability pension, be given seniority equal to the
amount of seniority at the date of such retirement.
(c) If an employee retired for reasons other than total and permanent
disability, who has lost seniority in accordance with subsection (a) above, is
rehired, such employee will have the status of a new employee.
SECTION 5. SUPPLEMENTS
Notwithstanding any other provisions of the Plan, an employee who retires with
benefits payable commencing on or after October 1, 1993 while on an approved
leave of absence requested by the International Union to permit such employee
to engage in the business of or to work for the International Union, shall not
be prevented from receiving benefits under Section 6 of Article II of the Plan
solely because the last day worked for the Corporation was not within five
years of the date the employee's pension benefits commence.
SECTION 6. DEDUCTION OF UNION DUES
(a) Notwithstanding any other provisions of the Plan, any retired employee
entitled to receive a pension or supplement may, pursuant to the retired
employee's written authorization and direction acceptable to the Corporation,
authorize the deduction of monthly Union dues from any monthly pension or
supplement otherwise payable and direct that such dues be remitted to the
Union.
(13)
A, Sect. 6 (b)
(b) An authorization to deduct said monthly Union dues shall become
effective as of the first of the second month following the month in which the
Corporation receives such authorization from the Union, and shall remain in
full force and effect until revoked by the retired employee's written notice
given to the Corporation, except that during any period when there is not in
effect a written collective bargaining agreement or supplement thereto between
the Corporation and the Union which permits or provides for the deduction of
Union dues from monthly pension benefits payable to a retired employee, such
assignment, authorization and direction, if otherwise in effect, shall
automatically be suspended for the duration of such period only.
(c) The Union shall indemnify and hold harmless the Corporation against
any and all liability, including reasonable attorney's fees, that may arise by
reason of the Corporation's compliance with this Section 6.
(d) This Section 6 shall be of no force or effect during any month for
which less than one thousand such authorizations are in effect.
SECTION 7. FOUNDRY JOBS
Any job classification put into effect after September 14, 1973 at a plant
identified in Appendix B of the Plan, shall be designated by written agreement
between the parties as a foundry job if such classification (a) supersedes or
replaces a job classification previously designated as a foundry job for such
plant, and (b) becomes applicable to employees who perform substantially the
same work as had been performed by employees while on a job classification
previously designated as a foundry job for such plant.
(14)
A, Sect. 8
SECTION 8. DURATION OF AGREEMENT
This agreement and Plan shall continue in effect until the termination of the
collective bargaining agreement of which this is a part.
In witness hereof, the parties hereto have caused this agreement to be executed
the day and year first above written.
(15)
INTERNATIONAL GENERAL MOTORS
UNION, UAW CORPORATION
OWEN BIEBER JOHN F. SMITH, JR.
STEPHEN P. YOKICH WILLIAM E. HOGLUND
RICHARD MONCZKA GERALD A. KNECHTEL
CAL RAPSON FREDERICK R. CURD, JR.
HENDERSON SLAUGHTER JAMES E. PRYCE
RICHARD SHOEMAKER BARBARA J. MAHONE
BILL APPLE DEAN W. MUNGER
LEON BLACKWELL LARRY E. KNOX
L.E. BUNCH RALPH E. HANDLEY
MIKE GRACEY THOMAS E. UTTER
LARRY STEVENS ARTHUR R. SCHWARTZ
KARLA SWIFT EDWARD V. SABISKY
TOM WEEKLEY MARTINA HUND-MEJEAN
GEORGE BRODEUR RODERICK D. GILLUM
BILL CAPSHAW DOUGLAS B. VANBROCKLIN, M.D.
BOB FARLEY ROWLAND L. AUSTIN
JIM JACKSON JOHN H. BERRY III
DICK JONES E. PRESTON BOLDEN
RICK LYONS RICHARD L. BREWER
JUDY MURPHY THOMAS J. BENNETT
HERSCHEL NIX KEVIN M. BUTLER
PEGGY PERSON WILLIAM L. COWELL
BILL RENO PRESTON M. CRABILL
WILLIE WILLIAMS RALPH E. DEEDS, JR.
RON BAUG H. STEPHEN DOYLE
ESTHER CAMPBELL JOHN J. FLAHARTY
ROBERT EVANS DONALD E. FRAZIER
DARWYN JONES KENNETH D. GALLINGER
MARK HAWKINS THOMAS A. GAWEL
DANNY LACK STEVEN L. GEBBIA
KEN LAUBERT ALLEN J. GREEN
DICK LONG TERRY J. MCDOUGALL
BILL SCRASE RONALD E. NEWTON
LEON SKUDLAREK DANIEL J. OSBORNE
JIM STEVENS ALICE M. OSBURN
RAY ALLEN RODNEY O'NEAL
PAUL ALLMAND GARY N. PHELEY
TOM AMENO BERNARD J. QUICK
ROGER ANCLAM MICHAEL A. TAUBITZ
JEANNIE ANDERSON RANDY J. THAYER
JIM BEARDSLEY JAMES R. RHADIGAN
(16)
INTERNATIONAL GENERAL MOTORS
UNION, UAW CORPORATION
CHARLIE BEST PAUL J. SCHNOBRICK
RON BIEBER JEFFREY E. SMITH
BILLIE BOLLER RICHARD M. STIFTER
BOB BREECE ALAN H. STROHMAIER
JACK BROWN JAY C. WILBER
BENNIE BURGESS DONALD G. WINE
REBECCA CABREROS GERALD J. WINTER
SCOTT CAMPBELL ELIZABETH M. AZONI
BUD CARROLL JAMES F. BALL
MIKE CAVANAUGH W. GARY BRYANT
JOHN CHILDERS MAGDALENA T. CHAVEZ
JOHN G. CLARK LEE M. CRAWFORD
JOHN J. CLARK CAROLE G. DAVEY
RUFUS COLEMAN KEVIN B. DUFF
JERRY COVILLE JEFFREY L. FELTEN
HAROLD COX MICHAEL S. FLIGSTEIN
SHELLEY CZEIZLER GALE P. FRAZEE
DICK DANJIN CHRISTINE A. GASICIEL
M.L. DOUGLAS SANDRA E. GERNHART
GREG FEDAK JENNIE F. HART
JOHN FEDEWA JOHN B. HULETT III
MARK FIEDLER KENNETH A. HULIK
CHUCK GAYNEY BETTY SUE JONES
RAY GIBSON ANTHONY KLEMER
DAN GINGERICH JAMES W. LALONDE
LARRY GONTKO CHARLES H. MATTHEWS
MOSES GREEN MARK R. MCCARTHY
MIKE GRIMES DELORES J. MCFARLAND
LESLIE HALLIBURTON JEAN L. ROSE
TOM HENRY CHARLES E. RUCKER
MOHAMMED ISA LARRY D. SHACK
SAM ISAAC MICHAEL W. TAYLOR
LARRY JOLLY BERNARD G. WEBER
DAVID KOEPCKE JANICE M. WHITEHOUSE
CHRIS MANNING JOSEPH D. WINGER
FAYE MCAFEE
RICK MCKIDDY
STEVE MCLIMANS
PAUL MITCHELL
CLAYTON MOLL
CARLENA MURDY
(17)
INTERNATIONAL GENERAL MOTORS
UNION, UAW CORPORATION
RON MURRAY
WILBERT NEAL
DON NEWTON
TONY ORTIZ
ED PARKER
LINDA PATTON
CARL PEDERSEN
TOM RICHARDSON
TOM ROBINSON
RICHARD RUPPERT
DON SARKESIAN
JOEL SAWYER
LOU SCHULTZ
LEONARD SCHWARTZ
HAROLD SHELTON
JIM SHROAT
DARRELL SMITH
LAWRENCE SMITH
JOE SPRING
RICHARD STALINSKI
CINDY SUEMNICK
LARRY SZUMAL
KEN TERRY
JIM TITSWORTH
LIBBY TOMASKO
LULA TRICE
TOM WALSH
JIM YAKLIN
AL YELLE
ED YONAN
(18)
EXHIBIT A-1
THE GENERAL MOTORS
HOURLY-RATE EMPLOYEES
PENSION PLAN
1
[INTENTIONALLY LEFT BLANK]
2
Art. I
ARTICLE I
ESTABLISHMENT OF THE PLAN
General Motors Corporation on behalf of itself and its Divisions and as agent
for certain of its directly or indirectly wholly-owned and substantially
wholly-owned domestic subsidiaries in accordance with I.R.C. Section 414(b),
(c), and (m) will establish, subject to the approval of its Board of Directors,
a pension fund either by a trust agreement with a trustee or trustees or by
contract with an insurance company or insurance companies, or both, and with
respect thereto shall make such payments or contributions as will be sufficient
to maintain the fund on a sound actuarial basis as well as to pay expenses
incident to the operation and management of the Plan.
Except as expressly provided in Sections 6, 7, and 8 of Article II and as
provided in Article VII and Article IX, the provisions set forth in this Plan
are applicable only to employees with seniority on or after October 1, 1993.
Employees retired with benefits commencing prior to such date or separated
prior to such date, or eligible surviving spouses of such employees, shall be
entitled to the benefits, if any, under the Plan as it existed immediately
prior to such date.
Notwithstanding the paragraph immediately above, employees who retired with
benefits commencing after September 14, 1993 and prior to October 1, 1993
pursuant to the provisions of Article II of the Plan, shall be considered for
purposes of Article II herein as having retired with benefits payable
commencing on or after October 1, 1993; the surviving spouse of any employee
who died after September 14, 1993 and prior to October 1, 1993, who is
otherwise eligible for monthly benefits under the Plan, shall be considered
entitled to monthly benefits pursuant to Section 5 of Article II herein; and
any such employees shall be
3
Art. I
considered eligible for credited service under Article III herein.
ARTICLE II
ELIGIBILITY FOR RETIREMENT
AND AMOUNT OF PENSIONS
SECTION 1. NORMAL RETIREMENT
Any employee who shall have attained the age of 65, shall have completed one or
more years of credited service as provided in Article III and shall cease
active service, shall be entitled to receive a pension.
SECTION 2. EARLY RETIREMENT
(a) (1) An employee who has attained age 60 but not age 65, and who
has 10 or more years of credited service, may retire at the option of the
employee.
(2) An employee who has attained age 55 but not age 60, and
whose combined years of age and years of credited service (to the nearest 1/12
in each case) shall total 85 or more, may retire at the option of the employee.
(3) An employee who has 30 or more years of credited service
may retire at the option of the employee.
(b) an employee who has attained age 55 (age 50 for an employee who
is laid off on or after october 1, 1984 as a result of a plant closing where no
other general motors plants are in the same geographical area) but not age 65
and who has 10 or more years of credited service may be retired under mutually
satisfactory conditions as set forth hereinafter in the standards applicable to
such retirement.
4
Art. II, 3
SECTION 3. TOTAL AND PERMANENT DISABILITY RETIREMENT
(a) An employee who is totally and permanently disabled prior to attaining
age 65, and has at least 10 years of credited service, shall be eligible for a
disability pension as hereinafter provided.
(b) An employee shall be deemed to be totally and permanently disabled
only if the employee is not engaged in regular employment or occupation for
remuneration or profit and on the basis of medical evidence satisfactory to the
Corporation the employee is found to be wholly and permanently prevented from
engaging in regular employment or occupation with the Corporation at the plant
or plants where the employee has seniority for remuneration or profit as a
result of bodily injury or disease, either occupational or nonoccupational in
cause, but excluding disabilities resulting from service in the armed forces of
any country unless the employee becomes totally and permanently disabled after
accumulating at least 5 years of seniority following separation from service in
the armed forces.
(c) Any disability pensioner may be required to submit to medical
examination at any time during retirement prior to age 65, but not more often
than semi-annually, to determine whether the pensioner is eligible for
continuance of the disability pension. If on the basis of such examination it
is found that the pensioner is no longer disabled or if the pensioner engages
in gainful employment, except for purposes of rehabilitation as determined by
the Corporation, the pensioner will be deemed recovered and such disability
pension will cease. In the event the disability pensioner refuses to submit to
medical examination the pension will be discontinued until the pensioner is
examined.
5
Art. II, 4
SECTION 4. AMOUNT OF PENSIONS
(a) (1) The monthly pension payable to an employee retired pursuant to the
provisions of Sections 1, 2, or 3 of this Article II with benefits payable
commencing on or after October 1, 1993 shall be a basic benefit for each year
of credited service that the employee had at the date of retirement, determined
by the applicable Benefit Class Code and based on the month for which payment
is being made as set forth in the table immediately following:
[Download Table]
Basic Benefit Rate Per Year
of Credited Service
For Months Commencing
Retirement With Benefit 10-1-93 10-1-94 10-1-95
Benefits Payable Class through through and
Commencing Code 9-1-94 9-1-95 After
--------------------------------------------------------------
$ $ $
- - -
OCTOBER 1, 1993 A 32.50 33.50 34.70
and After B 32.75 33.75 34.95
C 33.00 34.00 35.20
D 33.25 34.25 35.45
(2) The monthly pension benefit payable to an employee who retires at
the employee's option at a date selected by the employee shall be multiplied by
a percentage as set forth in the following table:
6
Art. II, 4(a)(2)
[Download Table]
Age When
Pension Commences Percentage*
-----------------------------------------------
42 21.0%
43 22.6
44 24.3
45 26.1
46 28.2
47 30.4
48 32.8
49 35.4
50 38.3
51 41.5
52 45.0
53 48.9
54 53.2
55 57.9
56 63.5
57 69.4
58 75.2
59 80.8
60 86.7
61 93.3
62 or over 100.0
*Prorated for intermediate ages computed on the basis of the number of complete
calendar months by which the employee is under the age attained at the
employee's next birthday.
If an employee:
(i) with 30 or more years of credited service retires at the
employee's option, or
(ii) whose combined years of age and years of credited service (to the
nearest 1/12 in each case) shall total 85 or more retires at the employee's
option,
the monthly basic benefits otherwise payable to such employee after age 62 and
one month shall be redetermined without any such reduction.
7
Art. II, 4(a)(3)
(3) The basic benefit payable in any month will not be reduced below
an amount which results in the early retirement supplement paid to a
participant in such month, under Article II, Section 6(a)(1), exceeding the old
age insurance benefits, unreduced on account of age, payable under Title II of
the Social Security Act, as amended.
(b) A temporary benefit for each year of credited service up to 30 shall
be payable in addition to the monthly basic pension payable to an employee
retired under mutually satisfactory conditions, or totally and permanently
disabled pursuant to Section 2(b) or Section 3 above, as set forth in the table
immediately following:
[Download Table]
Monthly Temporary
Benefit Amount
Retirees With Per Year of
Benefits Payable Credited
Commencing Service Maximum
----------------------------------------------------------
October 1, 1993 $ $
Through
September 1, 1994 31.00 930.00
October 1, 1994
through 31.95 958.50
September 1, 1995
October 1, 1995
and After 33.10 993.00
8
Art. II, 4(c)
(c) The monthly temporary benefit determined in (b) above shall be payable
until age 62 and one month, or until the age at which the employee becomes or
could have become eligible for a Federal Social Security benefit for disability
or an unreduced Federal Social Security benefit for age. At such age the
temporary benefit shall cease to be payable.
(d) An employee who is discharged for cause after such employee is
eligible to retire at the employee's option under Section 2(a) of this Article
II shall be entitled to the benefits provided under Section 4(a) of this
Article II.
(e) The amount of any monthly pension benefit otherwise payable to the
employee at retirement, or earlier commencement, will be reduced by the value
of any past and future benefits paid or payable to any alternate payee(s) under
a Qualified Domestic Relations Order within the meaning of I.R.C. Section
414(p).
The actuarial value will be used to determine any amount to be paid to any
such payee(s), if applicable, and the remaining benefit entitlement of the
employee.
SECTION 5. PENSION BENEFITS TO EMPLOYEE'S SURVIVING SPOUSE
(a) In lieu of the monthly basic benefit otherwise payable, an employee
who retires or is retired pursuant to the normal, early or total and permanent
disability retirement provisions of this Article II, or who breaks seniority
and is eligible for a deferred pension pursuant to the provisions of Section 2
of Article VII hereof, shall be deemed to have elected automatically a reduced
amount of monthly basic benefit to provide that, if the designated spouse shall
be living at the employee's death after such election shall have become
effective, a survivor benefit shall immediately be payable to such spouse
commencing on the first of the month following the employee's death and such
survivor
9
Art. II, 5(a)
benefit shall be payable during the spouse's further lifetime. In the event
such spouse predeceases such employee, or they are divorced by court decree and
a Qualified Domestic Relations Order within the meaning of I.R.C. Section
414(p) does not provide to the contrary, such employee may cancel the survivor
benefit election and have the monthly basic pension benefit restored to the
amount payable without such election, effective the first day of the third
month (for cancellations on and after January 1, 1994, due to the death of the
designated spouse, restoration of the monthly basic pension benefit will be
effective the first day of the month) following the month in which the
Corporation receives (i) evidence satisfactory to the Corporation of the
spouse's death, or (ii) such employee's written revocation of the election
because of divorce, on a form approved by the Corporation and accompanied by
evidence satisfactory to the Corporation of a final decree of divorce.
The automatic election provided in this subsection (a) shall become
effective on the later of (i) the commencement date of the employee's monthly
pension benefit, (ii) the first day of the month following the month in which
the employee attains age 55 (except that this item (ii) shall not apply to an
employee with 30 or more years of credited service or to an employee who
retires with benefits payable prior to age 55 pursuant to Section 2(b) of this
Article II), or (iii) the first day of the month following the month in which
the employee has been married one year if married when the election would
otherwise become effective but such marriage has been in effect less than one
year at that date.
An employee may prevent the automatic election provided in this subsection
(a) during the 90-day period prior to the effective date of such automatic
election by executing a specific written rejection of such election, which
includes the written consent of the
10
Art. II, 5(a)
employee's spouse witnessed by the plan representative or a notary public, on a
form approved by the Corporation and filing it with the Corporation.
Information regarding this coverage is included in the summary plan
description, which will be provided to each employee. Within a reasonable
period prior to the annuity starting date, each participant shall be provided a
written explanation of: (i) the terms and conditions of the surviving spouse
coverage; (ii) the participant's right to make and the effect of an election to
waive the surviving spouse coverage; (iii) the rights of the participant's
spouse; and (iv) the right to make and the effect of revocation of a previous
selection to waive the surviving spouse coverage.
(b) The beneficiary of a survivor benefit election shall be only the
person who is the employee's spouse at such time and who has been such spouse
for at least one year immediately prior to the effective date of such election.
(c) A survivor benefit election shall be revoked automatically upon the
death of the employee or the designated spouse, or both, prior to the effective
date of the election.
(d) A survivor benefit election shall be irrevocable at and after its
effective date if the employee and the designated spouse shall be living at
such date, except as otherwise provided in Section 5(a) of this Article II.
(e) For an employee who makes a survivor benefit election or who is deemed
to have made such election under this Section 5, the reduced amount of the
monthly basic benefit referred to in (a) above shall be equal to an amount
determined by multiplying the monthly basic benefit otherwise payable to the
employee by 95% if the employee's age and the eligible spouse's age are the
same; except that, in the case of an employee whose basic benefits are subject
to
11
Art. II, 5(e)
redetermination at age 62 and one month the amount of reduction in the monthly
basic benefit before such age for the survivor benefit election shall be based
on the monthly basic benefit payable to such employee after age 62 and one
month. Such percentage shall be increased by one-half of one percent (1/2%)
(up to a maximum of 100%) for each 12 months in excess of five (5) years that
the spouse's age exceeds the employee's age and shall be decreased by one-half
of one percent (1/2%) for each 12 months in excess of five (5) years that the
spouse's age is less than the employee's age.
(f) The survivor benefit payable to the surviving spouse of a retired
employee who has completed an election or who is deemed to have made an
election under this Section 5, and who dies after such election becomes
effective, shall be a monthly benefit for the further lifetime of such
surviving spouse equal to 60% of the reduced amount of such employee's monthly
basic benefit as determined in (e) above; except that the survivor benefit
payable to the surviving spouse of an employee whose basic benefits are subject
to redetermination at age 62 and one month pursuant to Section 4(a) of this
Article II, shall be based on the monthly basic benefit payable to such
employee after age 62 and one month.
(g) The surviving spouse of an employee
(i) who dies on or after attaining age 65, or on or after attaining
age 55 and after the employee is eligible to retire at the employee's option
under Section 2(a)(1) or 2(a)(2) of this Article II, or at any age with 30 or
more years of credited service, but before the first day of the month following
the date on which the employee retires or before the commencement date of the
employee's monthly pension in the case of an employee who retires and defers
the receipt of the monthly pension, and
12
Art. II, 5(g)(ii)
(ii) who, if the employee had retired at the date of death, would have
been eligible for the election under subsection (a) of this Section 5,
shall immediately be entitled to a monthly benefit during the spouse's
lifetime, terminating with the last monthly payment before the spouse's death.
The monthly benefit payable to the surviving spouse shall be the amount such
spouse would have been entitled to receive under subsection (f) of this Section
5, if the employee had retired on the date of death under Sections 1, 2(a)(1),
2(a)(2) or 2(a)(3), whichever is applicable, of this Article II with benefits
commencing the first of the following month and had effectively made the
election under subsection (a) of this Section 5.
(h) The death of an otherwise eligible employee who has retired under
Section 3 of this Article II, occurring on or after attaining age 55, but
before the first day of the month following the date of death, shall not
disqualify an otherwise eligible surviving spouse from receiving a benefit
hereunder.
SECTION 6. SUPPLEMENTS
(a) An employee who retires under Section 2 (other than an employee
referred to in Section 4(d) of this Article II, unless the Corporation or an
Impartial Umpire under an applicable collective bargaining agreement determines
the discharge should not result in the employee being ineligible for benefits
under this Section 6), or Section 3 of this Article II, and who files an
application for a pension within five years of the last day worked for the
Corporation and who agrees to restrict participation in the work force before
age 62 and one month as provided in (e) below will receive, in addition to the
pension, certain supplements as set forth below:
(1) If the employee retires under Section 2 or Section 3 of this
Article II with 30 or more years of
13
Art. II, 6(a)(1)
credited service at the date of retirement, such employee shall be entitled to
a monthly early retirement supplement until age 62 and one month in an amount
which when added to the monthly pension under this Plan will equal the amount
of total monthly benefit provided in the table set forth below, subject to
subsequent provisions of this Section 6:
[Download Table]
Total Monthly Benefit Rate
For Determining Monthly
Early Retirement Supplement
Prior to Age 62 and One Month
For Retirements With
30 or More Years
of Credited Service
Retirement 10-1-93 10-1-94 10-1-95
With Benefits through through and
Payable 9-1-94 9-1-95 After
Commencing
------------------------------------------------------------------
October 1, $ $ $
1993
and After 1,900 1,960 2,030
(2) If the employee retires at the employee's option after attaining
age 55 with benefits payable commencing on or after October 1, 1993 with less
than 30 years of credited service, such employee shall be entitled to a monthly
interim supplement until the attainment of age 62 and one month equal to the
amount provided immediately below for each year of credited service that such
employee had at the date of retirement, subject to the provisions of (b), (e)
and (g) of this Section 6:
14
Art. II, 6(a)(2)
[Download Table]
Monthly Amount* and Effective Date
of Interim Supplement
Payable Prior to Age 62 and One Month
for Each Year of Credited Service
Retired With Benefits Payable
Commencing on or After
October 1, 1993
Age at 10-1-93 10-1-94 10-1-95
Retirement through through and
9-1-94 9-1-95 After
-------------------------------------------------------------------
$ $ $
55 13.65 14.05 14.55
56 16.05 16.55 17.15
57 19.45 20.05 20.80
58 22.80 23.50 24.35
59 25.50 26.25 27.20
60 29.45 30.35 31.45
61 29.45 30.35 31.45
*Prorated for intermediate ages computed on the basis of the number of
complete calendar months by which the employee is under the age attained at
the employee's next birthday.
(b) The early retirement supplement under provision (a)(1) of this Section
6 for an employee who retires at the employee's option shall be calculated
assuming that the basic pension commences immediately after retirement, and
such early retirement supplement and the interim supplement under provision
(a)(2) of this Section 6 shall be reduced for any month prior to age 62 and one
month, for which the employee becomes or could have become eligible for a
Federal Social Security benefit, by an amount equal to the amount of the
temporary benefit to which the employee would have been entitled if retired
under Section 2(b) of this Article II.
15
Art. II, 6(c)
(c) The early retirement supplement under provision (a)(1) of this Section
6 for an employee who retires under Section 2(b) or Section 3 of this Article
II shall be calculated on the assumption that the employee will receive a
temporary benefit until age 62 and one month, even if such temporary benefit is
not received by the employee until such age because of entitlement to Social
Security Benefits.
(d) The early retirement supplement under provision (a)(1) of this Section
6 for an employee who does not prevent the automatic election of the surviving
spouse coverage provided under Section 5 of this Article II shall be calculated
on the basis of the monthly pension the employee would have received if the
employee had prevented such automatic election.
(e) Any of the supplements to which an employee is entitled shall commence
on the first day of the month following the date on which the employee retires
and shall be payable monthly thereafter until and including the first day of
the month in which the employee (1) dies, (2) has the pension cease for any
other reason, (3) is reemployed by the Corporation, or (4) attains age 62 and
one month, whichever occurs first. However, if an employee entitled to receive
a supplement has earnings after retirement in excess of the following annual
earnings limitation in any calendar year before the attainment of age 62 and
one month, such earnings being defined for this purpose as the type counted for
the earnings test under the Federal Social Security Act or the corresponding
type in any future Federal legislation amending, superseding, supplementing or
incorporating the Federal Social Security Act, a penalty equal to double the
amount by which such earnings exceed the amount permitted shall be charged
against each succeeding monthly supplement which the employee would otherwise
be entitled to receive until the full amount of such penalty
16
Art. II, 6(e)
is satisfied, it being understood that penalties and charges herein shall be
cumulative if appropriate:
[Download Table]
Annual Earnings Limitation
Calendar Year Amount
------------- --------------------------
$
1993 15,000
1994 15,500
1995 15,500
1996 15,500
An employee receiving a monthly early retirement supplement or interim
supplement may be required to certify whether such employee's annual earnings
have been in excess of the permitted amount and to furnish verification of the
amount of such earnings. Unless repaid by the employee in a lump sum, any
overpayments of a supplement made after an employee incurred a penalty because
of excess earnings in accordance with the preceding paragraph shall be deducted
from future monthly benefits payable to the employee under this Pension Plan.
The annual earnings limitation provisions of this subsection (e) shall not
be applicable to any mutually satisfactory retirement with benefits payable
commencing on or after October 1, 1993 and prior to September 14, 1996.
(f) If a retired employee has been receiving a pension under Section 3 of
this Article II and has been receiving a supplement and, on the basis of
medical evidence satisfactory to the Corporation, it is found that such
employee is no longer totally and permanently disabled and seniority is
restored, or if such employee is reemployed by the Corporation, such employee
shall not thereby forfeit any right thereafter to receive a supplement if such
employee thereafter retires under this Pension Plan.
17
Art. II, 6(g)
(g) If the total of the employee's monthly pension under this Pension Plan
and the monthly early retirement supplement or interim supplement receivable as
computed above would exceed 70% of the employee's final base pay, such monthly
supplement (but not the monthly pension) shall be reduced to the extent
required so that such monthly pension plus the supplement will equal 70% of the
employee's final base pay. For this purpose, an employee's final base pay
shall mean 173 1/3 times the employee's Base Hourly Rate as defined in Article
X.
SECTION 7. SPECIAL BENEFIT
(a) A retired employee, or a surviving spouse, (i) age 65 or older, or
(ii) under age 65 and enrolled in the voluntary "Medicare" coverage that is
available under the Federal Social Security Act by making contributions (in
either case excluding the spouse of a former employee who received a deferred
vested pension benefit under Article VII of the Plan), who is receiving a
monthly benefit under Article II of the Plan which commenced prior to October
1, 1979, subject to (d) below, shall receive a monthly special benefit equal to
the lesser of the generally applicable "Medicare" Part B premium in effect as
of the dates below, or:
(i) $38.50 for months commencing on or after January 1, 1993,
(ii) $41.10 for months commencing on or after January 1, 1994,
(iii) $46.10 for months commencing on or after January 1, 1995,
(iv) $51.60 for months commencing on or after January 1, 1996.
(b) In no event shall such payment commence prior to the first day of the
month following the earlier of (i) the month during which age 65 is attained,
or (ii) for
18
Art. II, 7(b)
enrollments effective prior to October 1, 1993 receipt by the Corporation of
application on a form provided for this purpose from an otherwise eligible
individual under age 65; except that, with respect to an otherwise eligible
individual under age 65, payment shall commence with the first month of such
enrollment, but in no event prior to October 1, 1979.
(c) Not more than one such payment shall be made to any individual for any
one month. No such payment shall be made to any individual under age 65 for
any month such individual is not enrolled for such voluntary "Medicare"
coverage. No such payment shall be made under this Plan to any individual who
retires with benefits payable commencing on or after October 1, 1979.
(d) The special benefit payable to an individual who is not enrolled in
"Medicare" Part B as of October 1, 1990, but who was receiving a special
benefit, is limited to $28.00 per month. Such an individual will become
entitled to the schedule of payments in subsection (a) above, upon proof of
enrollment in "Medicare" Part B. Thereafter, continued receipt of a special
benefit will be contingent on maintenance of "Medicare" Part B enrollment.
(e) For an individual enrolled in "Medicare"
Part B as of October 1, 1990, or who first becomes eligible for "Medicare" Part
B on or after October 1, 1990, receipt of a special benefit on and after
January 1, 1991 is contingent upon continued enrollment in "Medicare" Part B.
SECTION 8. BENEFITS FOR EMPLOYEES WHO RETIRED WITH BENEFITS PAYABLE
COMMENCING PRIOR TO OCTOBER 1, 1993
An employee who retired under Article II of the Plan with benefits payable
commencing prior to October 1, 1993, or the eligible surviving spouse of such
an employee, shall be entitled to the benefits, if any,
19
Art. II, 8
under the Plan as it existed immediately prior to such date, except that
(a) (1) Benefits payable to such retired employees or surviving spouses
shall be increased to the extent necessary to provide monthly benefits equal to
the benefits which would have been payable had the basic pension benefits
payable to the employee after age 65 been based on the following table:
[Download Table]
Basic Benefit Rate
Per Year of
Credited Service
Retirement For Months
With Benefits Benefit Commencing
Payable Class October 1, 1993
Commencing Code and After
------------- -------- ---------------
Prior to $
October 1, 1979 N/A 21.00*
October 1, 1979 A 22.25
through B 22.50
September 1, 1980 C 22.75
D 23.00
October 1, 1980 A 22.35
through B 22.60
September 1, 1981 C 22.85
D 23.10
October 1, 1981 A 22.45
through B 22.70
September 1, 1984 C 22.95
D 23.20
October 1, 1984 A 25.10
through B 25.35
September 1, 1985 C 25.60
D 25.85
October 1, 1985 A 25.20
through B 25.45
September 1, 1986 C 25.70
D 25.95
October 1, 1986 A 25.30
through B 25.55
September 1, 1987 C 25.80
D 26.05
*Including, if applicable, $1.00 waived for election of a special survivor
option.
(Continued On Next Page)
20
Art. II, 8(a)(1)
(Continued From Preceding Page)
[Download Table]
Basic Benefit Rate
Per Year of
Credited Service
Retirement For Months
With Benefits Benefit Commencing
Payable Class October 1, 1993
Commencing Code and After
------------- -------- ---------------
$
October 1, 1987 A 28.30
through B 28.55
September 1, 1988 C 28.80
D 29.05
October 1, 1988 A 28.40
through B 28.65
September 1, 1989 C 28.90
D 29.15
October 1, 1989 A 28.50
through B 28.75
September 1, 1990 C 29.00
D 29.25
October 1, 1990 A 31.70
and prior to B 31.95
October 1, 1993 C 32.20
D 32.45
(2) Benefits payable to employees retired on and after October 1, 1973,
shall be based on the Benefit Class Code applicable to the employee, determined
as though the maximum base hourly rate of the employee's job classification had
included the amount of any wage inequity adjustment made applicable to such job
classification on or after September 14, 1973, and prior to the employee's loss
of seniority.
21
(3) If an employee whose monthly basic benefit otherwise would have
been redetermined at age 62 attains age 62 on or after March 1, 1982, such
redetermination shall be effective at age 62 and one month.
(b) Any temporary benefits payable to such retired employees until age
65 if retired with benefits payable commencing before March 1, 1974, or age 62
if retired with benefits payable commencing on or after March 1, 1974 or age 62
and one month for a retired employee who attains age 62 on or after March 1,
1982, or in any case, if earlier, until the age at which the employee becomes
or could have become eligible for a Federal Social Security benefit for
disability or an unreduced Federal Social Security benefit for age shall be
increased to the extent necessary to provide monthly temporary benefits equal
to the temporary benefits which would have been payable had the temporary
benefits payable to the employee prior to such age 65 (or age 62 or age 62 and
one month) or earlier age been based on the following:
22
Art. II, 8(b)
[Download Table]
Retires With Monthly Temporary Benefit Amount*
Benefits Payable Per Year of
Commencing Credited Service Maximum
---------------- ---------------- -------
$ $
Prior to
September 1, 1964 12.50 325.00
Setember 1, 1964
and prior to
October 1, 1967 13.00 325.00
October 1, 1967
and prior to
October 1, 1970 13.25 331.25
October 1, 1970
and prior to
March 1, 1974 13.75 343.75
March 1, 1974
and prior to
October 1, 1976 14.75 368.75
October 1, 1976
and prior to
October 1, 1978 15.25 381.25
October 1, 1978
and prior to
October 1, 1979 16.25 406.25
October 1, 1979
and prior to
October 1, 1980 17.25 431.25
October 1, 1980
and prior to
October 1, 1981 18.25 456.25
October 1, 1981
and prior to
January 1, 1983 19.25 481.25
* Benefit payable for months commencing October 1, 1993.
(Continued On Next Page)
23
Art. II, 8(b)
(Continued From Preceding Page)
[Download Table]
Retires With Monthly Temporary Benefit Amount*
Benefits Payable Per Year of
Commencing Credited Service Maximum
---------------- ---------------- -------
January 1, 1983 $ $
and prior to
October 1, 1985 19.25 577.50
October 1, 1985
and prior to
October 1, 1986 20.25 607.50
October 1, 1986
and prior to
October 1, 1987 21.25 637.50
October 1, 1987
and prior to
October 1, 1988 21.45 643.50
October 1, 1988
and prior to
October 1, 1989 22.55 676.50
October 1, 1989
and prior to
October 1, 1990 23.65 709.50
October 1, 1990
and prior to
October 1, 1991 26.00 780.00
October 1, 1991
and prior to
October 1, 1992 28.20 846.00
October 1, 1992
and prior to
October 1, 1993 30.30 909.00
* Benefit payable for months commencing October 1, 1993.
24
Art. II, 8(c)(1)
(c) (1) An employee who retired under Article II of this Plan with 30 or
more years of credited service who is receiving a monthly supplement which
commenced prior to October 1, 1993 shall receive an increase to such monthly
supplement as follows:
[Download Table]
Amount of Increase*
Payable to Payable Between
Effective Date Age 62 Ages 62 and
of Increase and One Month One Month-64
-------------- ------------- ----------------
$ $
October 1, 1993 60.00 30.00
The amount of any monthly supplement payable to an employee who retired
under Article II of the Plan with benefits commencing prior to October 1, 1993
shall be redetermined to the amount of supplement which would have been payable
had the applicable benefit rates set forth in this Section 8 been in effect
when such employee's benefits commenced. If such retired employee is entitled
as of October 1, 1993 to receive Social Security benefits, and became so
entitled before October 1, 1993, any increase in the rate of temporary pension
provided in provision (b) of this Section 8 shall not be considered in
redetermining the supplement until the retired employee ceases to be so
entitled.
(2) An employee who retired under Article II of this Plan at the
employee's option after attaining age 55 with less than 30 years of credited
service who is receiving an interim supplement which commenced prior to October
1, 1993 shall receive, for months commencing on and after October 1, 1993, an
increase to such interim supplement, as follows:
25
Art. II, 8(c)(2)
[Download Table]
Age at Monthly Increase Per Year
Retirement of Credited Service
---------- -------------------------
$
55 0.45
56 0.50
57 0.65
58 0.75
59 0.80
60 0.95
61 0.95
(d) The survivor benefit payable to the surviving spouse of a retired
employee who has completed an election of a special survivor option and who
dies after such election becomes effective, shall be a monthly benefit for the
further lifetime of such surviving spouse equal to $9.55 for each year of
credited service that such retired employee had at the date of retirement, with
respect to benefits payable for any month commencing on or after October 1,
1993.
(e) An employee who retired under Article II of the Plan, or who is
eligible for a deferred pension pursuant to the provisions of Section 2 of
Article VII of the Plan, and who has surviving spouse coverage in effect but
whose designated spouse predeceases the employee, may have the monthly basic
pension benefit restored to the amount payable without such coverage, effective
the first day of the third month (for restorations on and after January 1,
1994, restoration of the monthly basic pension benefit will be effective the
first day of the month) following the month in which the Corporation receives
evidence satisfactory to the Corporation of the spouse's death.
(f) In lieu of receiving a reduced amount of any increase in benefits
otherwise payable under this
26
Art. II, 8(f)
Section 8 on or after April 1, 1971 in order to provide an increase in the
amount of survivor benefit otherwise payable, an employee who retired under
Article II of the Plan with benefits payable commencing prior to November 23,
1970, who is divorced by court decree, and for whom the terms of a Qualified
Domestic Relations Order within the meaning of I.R.C. Section 414(p) do not
expressly prohibit cancellation of the survivor annuity, from the employee's
designated spouse for whom survivor benefit coverage is in effect, may elect to
receive the full amount of such increase. To make such election the employee
must complete a form approved by the Corporation and file it with the
Corporation, accompanied by evidence satisfactory to the Corporation of a final
decree of divorce, in which case such election shall become effective with
respect to benefits falling due for months commencing on the first day of the
third month following the month in which the Corporation receives such
completed election form and final decree of divorce.
(g) An employee who retired or retires under Article II of the Plan with
benefits payable commencing on or after January 1, 1962, who marries, or
remarries, subsequent to the earliest date survivor benefit coverage was in
effect, or was not in effect on such date solely because the retired employee
was not then married, may elect, or re-elect, survivor benefit coverage. Any
such coverage, and the benefits thereunder, shall be provided under the terms
and conditions of the Plan in effect at the time of the employee's retirement.
Such coverage shall become effective on the first day of the third month
following the month in which the Corporation receives a completed election
form, but in no event before the first day of the month following the month in
which the retired employee has been married one year.
No election provided hereunder shall become effective under any
circumstance for any retired
27
Art. II, 8(g)
employee whose completed election form is received by the Corporation after the
first day of the month in which the retired employee has been married one year.
This subsection (g) also shall be applicable to an employee retired with
benefits payable commencing on or after October 1, 1993.
(h) Monthly benefits payable under this Section 8 on and after October 1,
1993 shall not be limited by the 70% benefit limitation in Section 6(g) of this
Article II.
(i) The monthly amount of any lifetime supplement payable to an employee
retired with benefits payable commencing on or after March 1, 1974 with 30 or
more years of credited service shall be $35.00.
(j) The monthly amount of any age-service supplement payable to an
employee retired with benefits payable commencing on or after March 1, 1974
with less than 30 years of credited service but after attaining age 62 and one
month shall be $1 for each year of credited service reduced by 1/36th for each
complete calendar month that the employee is under age 65 at the date of
retirement.
SECTION 9. EMPLOYEES NOT ACTIVELY AT WORK
The absence of an employee from active work at the time such employee would be
eligible to retire under the Plan shall not preclude the employee's retirement
without return to active work.
SECTION 10. JOINT AND SURVIVOR COVERAGE
(a) In lieu of the monthly basic benefit otherwise payable, an employee
who retires pursuant to the provisions of Section 3 of this Article II who is
under age 55 and has less than 30 years of credited service shall be deemed to
have elected automatically a reduced
28
Art. II, 10(a)
amount of monthly basic benefit, up to and including the month in which the
retired employee dies or attains age 55, whichever occurs first, and a monthly
survivor's benefit, beginning on the first day of the month after the retired
employee would have reached age 55 shall be payable to the designated spouse
during the further lifetime of the spouse.
(b) This automatic election shall be deemed to have been made at the time
the employee shall apply or shall have applied for a disability pension benefit
(with the election being effective the first day of the month for which the
first benefit under the Plan is payable).
(c) The automatic election provided in this Section 10 shall be applicable
only with respect to a spouse to whom the employee is married on the date of
such election and only if the retired employee and the spouse shall have been
married throughout the one-year period ending on the date of the retired
employee's death.
(d) An employee may prevent the automatic election provided in this
Section 10 during the 90-day period prior to the effective date as set forth in
subsection (b) of this Section 10, by specific written rejection which includes
the written consent of the spouse witnessed by the plan representative or a
notary public on a form approved by the Corporation.
(e) In any event, the election shall automatically be canceled:
(i) if the employee's disability retirement status terminates other than
by death prior to the first day of the month after the retired employee attains
age 55, or
(ii) if the retired employee survives on a disability retirement status
until the first day of the month after the attainment of age 55, at which time
the coverage described in Section 5 of this Article II becomes applicable.
29
Art. II, 10(f)
(f) The amount of the monthly basic benefit payable to an employee deemed
to have made the election provided hereunder shall be determined by reducing
actuarially the amount of such benefit for the cost of the survivor benefit
payable in the event of the retired employee's death before the first of the
month following the attainment of age 55. The actuarial reduction shall be
based on the age of the retired employee and the spouse (the age of each being
determined as their age at the birthday nearer the date on which the benefits
commence) and shall reflect the higher mortality associated with being
disabled. Reduction factors at selected ages for disability survivor coverage
before age 55 are set forth in the following table:
[Download Table]
Age Difference Between
Disabled Employee and Spouse
Age of Spouse Is:
Employee
When 10 5 5 10
Benefits Years Years Same Years Years
Commence Younger Younger Age Older Older
------------------------------------------------------
% % % % %
30 8.6 8.1 7.5 6.7 5.9
35 10.4 9.9 9.2 8.3 7.2
40 12.5 11.8 11.0 10.0 8.8
45 14.3 13.5 12.7 11.6 10.3
50 13.9 13.2 12.4 11.4 10.2
51 13.1 12.5 11.7 10.8 9.7
52 10.4 9.9 9.3 8.6 7.7
53 3.4 3.2 3.0 2.8 2.5
54 3.4 3.3 3.1 2.8 2.5
NOTE: Actuarial reduction factors for ages not shown will be calculated on
the same basis as the factors shown.
30
Art. II, 10(g)
(g) The amount of the monthly benefit payable to the surviving spouse of a
retired employee deemed to have made the election specified hereunder shall be
50% of the amount of the monthly basic benefit payable to the retired employee
after the reduction provided in subsection (f) of this Section 10.
(h) Anything in the Plan to the contrary notwithstanding, if the
designated spouse of a retired employee deemed to have made the election
provided hereunder shall predecease such retired employee, or they are divorced
by court decree and a Qualified Domestic Relations Order within the meaning of
I.R.C. Section 414(p) does not provide to the contrary, the monthly basic
benefit of such retired employee shall be restored to the amount payable
without such election, effective the first day of the third month (for
restorations on and after January 1, 1994, due to the death of the designated
spouse, restoration of the monthly basic pension benefit will be effective the
first day of the month) following the month in which the Corporation receives
evidence satisfactory to the Corporation of the spouse's death or divorce.
(i) No benefit shall be payable under this Section 10 for any month for
which benefits are payable under Article II, Section 5(h) or Section 11 of this
Plan.
(j) Information regarding this coverage is included in the summary plan
description, which will be provided to each employee. Within a reasonable
period prior to the annuity starting date, each participant shall be provided a
written explanation of: (i) the terms and conditions of the surviving spouse
coverage; (ii) the participant's right to make and the effect of an election to
waive the surviving spouse coverage; (iii) the rights of the participant's
spouse; and (iv) the right to make and the effect of a revocation of a previous
selection to waive the surviving spouse coverage.
31
Art. II, 11
SECTION 11. PRE-RETIREMENT SURVIVOR COVERAGE TO COMPLY WITH THE RETIREMENT
EQUITY ACT OF 1984
(a) An employee who:
(i) has either 5 or more years of credited service, or 5 years of
"service" as provided under Article III, Section 6, or
(ii) breaks seniority on or after October 1, 1993 and who is eligible
for a deferred pension under Article VII, Section 2,
and in either case is not eligible for the survivor benefit coverage
provided under Section 5 of this Article II, shall have the pre-retirement
survivor coverage described herein.
Such coverage shall remain in full force and effect until the date on
which the employee or former employee becomes eligible for the survivor benefit
coverage provided under Article II, Section 5, at which time the pre-retirement
survivor coverage described herein shall cease to be effective.
In the event the employee or former employee predeceases the designated
spouse while the pre-retirement survivor coverage provided hereunder is in
effect, the designated spouse shall be eligible, during the further lifetime of
such spouse, for a monthly benefit commencing on the first of the month
following the month in which the employee or former employee would have become
eligible to retire at the option of the employee.
The amount of any such monthly survivor benefit shall be determined by the
basic benefit rate in effect for the employee on the date of death of such
employee, or the date seniority broke for a former employee.
(b) The survivor coverage provided hereunder for an employee or former
employee shall be effective on
32
Art. II, 11(b)
the date the employee or former employee attains 5 years of credited service or
"service" as provided under Article III, Section 6.
(c) The survivor coverage provided hereunder shall be effective with
respect to a spouse to whom the employee or former employee is married, but
only if the couple shall have been married throughout the one-year period
ending on the date of the employee's or former employee's death.
(d) Subsections (b) and (c) notwithstanding, if an employee or former
employee marries or remarries, such coverage shall be in effect in favor of the
spouse upon such marriage or remarriage, unless, in the case of remarriage, a
Qualified Domestic Relations Order within the meaning of I.R.C. Section 414(p)
requires such coverage to remain in effect for the former spouse. The
effective date of any such coverage shall be in accordance with subsection (c)
of this Section 11.
(e) In the event of divorce, the employee or former employee can revoke
the coverage provided hereunder without spousal consent, unless a Qualified
Domestic Relations Order within the meaning of I.R.C. Section 414(p) provides
to the contrary.
(f) The coverage provided hereunder shall be canceled automatically on the
date when any employee or former employee becomes eligible for the survivor
coverage provided under the provisions of Article II, Section 5 of the Plan.
(g) The monthly benefit amount payable hereunder to any eligible surviving
spouse shall be 50% of the monthly amount of the basic benefit as determined in
Article VII, Section 2(b) otherwise payable at the (i) date of death to the
employee, or (ii) date seniority broke for a former employee, after any
reduction provided in Section 2(c) of Article VII.
33
Art. II, 11(h)
(h) No benefit shall be payable under this Section 11 for any month for
which benefits are payable under Article II, Section 5 or Section 10 of this
Plan.
(i) Information regarding the coverage provided hereunder is included in
the summary plan description, which will be provided to each employee covered
by the Pension Plan, in accordance with The Employee Retirement Income Security
Act (ERISA).
(j) The pre-retirement survivor coverage provided hereunder will apply to
eligible employees and former employees separated from service:
(1) whose last day worked for the Corporation was on or after October
1, 1976, and
(2) who have entitlement to but have not commenced receipt of deferred
vested benefits, and
(3) who were alive as of August 23, 1984.
ARTICLE III
CREDITED SERVICE
SECTION 1. CREDITED SERVICE SUBSEQUENT TO OCTOBER 1, 1950
(a) (1) Credited service shall be computed for each calendar year for each
employee on the basis of total hours compensated by any plant or Division of
the Corporation during such calendar year while the employee has unbroken
seniority. Employment while covered under The GM Special Pension Plan shall
not be credited hereunder, except for an employee with seniority on March 1,
1988, who has not received a cash payment representing such employee's accrued
benefit under The GM Special Pension Plan. Any calendar year in which the
employee has 1700 or more compensated hours shall be counted a full
34
Art. III, 1(a)(1)
calendar year. Where the employee's total hours compensated during a calendar
year are less than 1700 hours, a proportionate credit shall be given to the
nearest 1/10 of a year.
(2) For the purpose of computing credited service, hours of pay at
premium rate shall be computed as straight time hours.
(b) For the purpose of computing compensated hours under subsection (a) of
this Section 1:
(1) An employee with seniority on or after January 1, 1968 who is
absent from work during any calendar year thereafter because of layoff or while
on a Corporation approved sick leave, shall be credited with 40 hours for each
complete calendar week of such absence during such year in addition to any
other hours credited, provided that such employee shall have received pay from
the Corporation during that year for at least 170 hours, and provided further
that if such absence commences in calendar year 1970 or later, and such layoff
or sick leave continues into the following year, the employee shall be credited
with 40 hours for each complete calendar week of absence in the following year,
not to exceed 1530 hours of credit for all such absence related to receipt of
such pay from the Corporation in the first year.
An employee who is recalled from permanent layoff and returns to work
on or after October 1, 1993 shall become eligible for the 1530 hours of credit
hereunder, applicable during a sick leave or layoff, on the later of: (1)
receipt of pay from the Corporation for at least 170 hours, or (2) the day next
following the 12th week of pay from one or more GM plants within a calendar
year. If the employee receives pay from the Corporation for 170 or more hours
prior to the 12th week in (2) immediately above, the employee shall become
eligible for "bank" hours equal to the
35
Art. III, 1(b)(1)
number of hours worked since recall, plus any "bank" hours to which the
employee was entitled immediately before such return to work, but in no case to
exceed 1530 hours.
An employee who returns to work on or after October 1, 1979 and
receives pay for a period of less than 170 hours and who thereafter returns to
such layoff or sick leave, shall not be disqualified, solely because of the
receipt of such pay, from receiving any such credit for which the employee
otherwise would be eligible hereunder. For the purposes of this subsection
only, an employee who is laid off subsequent to October 1, 1979 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. A
part-time employee shall be credited for any week of such absence in the same
percentage relationship as such employee's regular part-time schedule is to 40
hours.
An employee who (i) is at work on or after October 1, 1993; (ii) has
10 or more years of seniority at time of layoff commencing on or after October
1, 1993; (iii) while on such layoff has received the maximum of 1530 hours of
credit for periods of absence due to layoff or Corporation approved sick leave
in accordance with the preceding paragraph of this Section 1(b)(1); and (iv)
continues thereafter to be absent due to such layoff shall be credited with 40
hours for each complete calendar week of absence due to such layoff up to a
maximum of 1700 hours of credit.
(2) An employee who is absent from work because of occupational injury
or disease incurred in the course of such employee's employment with the
Corporation, and on account of such absence receives
36
Art. III, 1(b)(2)
Workers Compensation while on Corporation approved leave of absence shall be
credited with 40 hours for each complete calendar week of such absence after
September 1, 1961.
(c) Any salaried employee transferred to an hourly-rate job who thereby
becomes an employee covered by the Plan shall have credited to the nearest 1/10
year any credited service the employee had as of the date of such transfer
under any Corporation retirement plan for salaried employees.
(d) If an employee who retired is rehired, such employee may accumulate
additional credited service by reason of such reemployment.
(e) For the purpose of computing compensated hours under subsection (a) of
this Section 1:
(1) An employee who after October 1, 1950 and prior to June 1, 1955
was absent from work because such employee entered into active service in the
armed forces of the United States and who was given a Corporation approved
leave of absence for such period shall be credited with the number of hours
that the employee would have been scheduled to work during such absence.
(2) An employee, who on or after June 1, 1955 was or is absent from
work to enter into (or remain in) active service in the armed forces of the
United States and for that reason was or is given a Corporation approved leave
of absence, shall be credited with 40 hours for each complete calendar week
while on such leave; provided, however, that credited service based on such
hours shall not exceed four years (including credited service, if any, granted
under subsection (e)(1) of this Section 1), or such longer period during which
the employee has reemployment rights pursuant to any Federal law, and provided,
further, that the employee is reemployed in accordance
37
Art. III 1(e)(2)
with the terms of such leave of absence or, if reemployed by the Corporation at
a location other than the location from which the leave was granted, within 90
days from the date of discharge from the armed forces.
(f) Any employee hired on an hourly-rate job by a plant or Division of the
Corporation, who has credited service under any Corporation retirement plan for
salaried employees or who has lost credited service under any such plan, shall,
upon making proper application, have such service credited to the nearest 1/10
year; provided that the employee acquires or acquired seniority following the
loss of such credited service.
(g) If a former salaried employee who is entitled to a deferred retirement
benefit under Part A of the General Motors Retirement Program for Salaried
Employees is reemployed by the Corporation and acquires seniority prior to the
commencement of such deferred retirement benefit, such employee shall, upon
making proper application, have reinstated, in lieu of the deferred retirement
benefit, the credited service lost at the time the employee became entitled to
such deferred retirement benefit.
(h) An employee with at least five years of seniority:
(1) on January 1, 1968 who was absent from work because of layoff
during any calendar year after December 31, 1955 and before January 1, 1963, or
(2) on December 10, 1973 who was absent from work because of layoff
during any calendar year after December 31, 1950 and before January 1, 1956, or
(3) on October 1, 1979 who was absent from work because of layoff
during any calendar year after December 31, 1962 and before January 1, 1968, or
38
Art. III, 1(h)(4)
(4) on October 1, 1984 who was absent from work because of layoff
during any calendar year after December 31, 1978 and before January 1, 1984, or
(5) on October 1, 1993 who was absent from work because of layoff
during any calendar year after December 31, 1973 and before January 1, 1977
shall be credited with 40 hours for each complete calendar week of
such absence, not previously credited under this Section 1, during which the
employee had seniority multiplied by a percentage as set forth in the following
table:
[Download Table]
Employee's Seniority
on January 1, 1968
in the Case of (1)
Above or
December 10, 1973
in the Case of (2) Above
or October 1, 1979
in the Case of (3) Above
or October 1, 1984
in the Case of (4) Above
or October 1, 1993
in the Case of (5) Above %
---------------------------------------------
20 years or more 100
15 years but less than 20 years 75
10 years but less than 15 years 50
5 years but less than 10 years 25
provided that the employee makes proper application.
(i) In no event shall any employee be credited with more than 1700 hours,
including compensated hours, in any calendar year. No employee shall be
credited with any service after retirement. There shall be no duplication of
credited service under the Plan. Not
39
Art. III, 1(i)
more than one year of credited service shall be credited to any employee in any
calendar year, except as otherwise provided in Section 5 of this Article III
with respect to foundry service.
(j) Notwithstanding any other Section of this Article III, in the case of
an employee who shall retire on or after October 1, 1990, the employee's
credited service for the period before January 1, 1966 shall not be less than
the employee's seniority as of December 31, 1965 as determined under the
Collective Bargaining Agreement.
SECTION 2. LOSS OF CREDITED SERVICE
An employee will lose all credited service for purposes of this Plan:
(a) if the employee quits,
(b) if the employee is discharged or released,
(c) if the employee's seniority is broken for any other reason.
SECTION 3. REINSTATEMENT OF CREDITED SERVICE
(a) Any employee with seniority on or after October 1, 1993 who breaks
seniority and thereby loses or has lost credited service under Section 2 of
this Article III and then is or was later reemployed by any plant or Division
of the Corporation shall, upon making proper application, have such credited
service reinstated provided the employee subsequently acquires or acquired
seniority.
(b) Any employee retired under the provisions of this plan who
subsequently has seniority reinstated, will have credited service at the time
of retirement reinstated.
40
Art. III, 4
SECTION 4. SERVICE WITH A FOREIGN SUBSIDIARY
An employee with seniority on or after October 1, 1993 whose employment as an
hourly or salaried employee with a directly or indirectly wholly-owned or
substantially wholly-owned foreign subsidiary of General Motors Corporation has
been terminated other than by retirement, shall be granted credited service
under this Plan for any periods of active service with such foreign subsidiary
or, if greater, the amount of service credited to such employee under any
pension or retirement plan of the foreign subsidiary at the time of
termination, provided such service was prior to the most recent period of
active service credited under this Plan.
Any monthly benefits payable under this Plan to a retired employee who has
received credited service under this Section 4 will be reduced by an amount
equivalent to the total of any monthly benefits that could be payable to such
employee under any retirement plan to which the foreign subsidiary has
contributed, excluding, however, any such plan or any portion of any such plan
providing retirement benefits purchased solely by voluntary employee
contributions. Any survivor's benefits payable under this Plan to a survivor
of such an employee shall be subject to similar reduction by monthly survivor's
benefits payable under any plan to which the foreign subsidiary has
contributed.
SECTION 5. FOUNDRY SERVICE
An employee with seniority on or after October 1, 1993 who at retirement has
over 10 years of credited service which such employee accrued while employed on
certain foundry job classifications as set forth in Appendix B, shall receive
additional credited service related thereto. Total credited service for any
such employee who retires with benefits payable
41
Art. III, 5
commencing on or after October 1, 1975 shall be the sum of (i) credited service
otherwise credited to the employee, and (ii) any such additional credited
service which shall be credited to the employee in accordance with the
following table:
[Download Table]
Years of Credited Service Additional
Credited on Credited
Foundry Jobs Service
------------------------- ----------
For years 1 through 10 0
For years 10.1 through 25 33-1/3%
For years over 25 20%
If any such employee is continuously employed exclusively on such foundry jobs
in a calendar year, such additional credited service shall apply to any
credited service otherwise credited to the employee for such year. If any such
employee (i) is not continuously employed in a calendar year, or (ii) is
employed on other than such foundry jobs in such year, such additional credited
service shall apply to any credited service otherwise credited to the employee
for such year in accordance with the following table:
[Download Table]
If Credited Service Additional Credited Service
Otherwise Applies to Such Year Only if Employee
Credited to Spent Following Minimum Number of
Employee For Complete Calendar Weeks on
Calendar Year is Foundry Jobs During Such Year
------------------- -------------------------------------
1.0 (year) 26
.9 23
.8 21
.7 18
.6 16
.5 13
.4 10
.3 8
.2 5
.1 3
42
Art. III, 5
No additional credited service shall be granted for any calendar year in which
any such employee spends less than the minimum required number of complete
calendar weeks on such foundry jobs, as indicated above.
If any such employee is on such foundry job at the commencement of a layoff or
approved leave of absence, such additional credited service shall apply to any
credited service otherwise credited to the employee while on such layoff or
approved leave of absence.
SECTION 6. HOURS, YEARS AND BREAKS IN SERVICE TO COMPLY WITH THE EMPLOYEE
RETIREMENT INCOME SECURITY ACT OF 1974
(a) An employee who breaks seniority on or after October 1, 1976 who would
be eligible for a deferred pension under Article VII, Section 2, except solely
for the fact that the employee does not have at least 5 years of credited
service under the foregoing Sections of this Article III, shall be eligible for
a deferred pension under the provisions of Article VII, Section 2 if, at the
time the employee breaks seniority, such employee has 5 years of service solely
as determined under this Section 6.
(b) The monthly amount of any such deferred pension shall be based solely
on the credited service that the employee had under the foregoing Sections of
this Article III when the employee broke seniority.
(c) No employee shall be eligible to be covered under this Section 6 until
such employee (i) attains age 21, or (ii) completes 1 year of service under
this Section 6, whichever is later. Rehired employees shall participate
immediately.
(d) An employee shall complete 1 year of service when such employee
completes 750 hours of service
43
Art. III, 6(d)
in the 12 consecutive month period beginning with the employment commencement
date. If an employee fails to complete 750 hours of service in such period,
such employee shall complete 1 year of service in the first 12 consecutive
month period thereafter in which the employee completes 750 hours of service,
measured from each succeeding anniversary of the employment commencement date.
Thereafter, an employee shall complete 1 year of service during each 12
consecutive month period in which such employee completes 750 hours of service,
measured from the anniversary of the employment commencement date. A year of
service under this Section 6 shall include service (i) with affiliated group
members accrued subsequent to acquisition, (ii) rendered to the Corporation as
a former leased employee (but only upon employee application, supported by
substantiation satisfactory to the Corporation of such service), and (iii)
rendered to the Corporation as a salaried employee in accordance with I.R.C.
Section 414(b), (c), (m), (n), and (o).
(e) An employee who satisfies the eligibility requirements of this Section
6, and who is otherwise entitled to participate in the Plan, shall commence
participation under this Section 6 if the employee satisfies such requirements
(i) between April 1 and September 30; on the first day of the plan year
beginning after the date on which such requirements are satisfied, or (ii)
between October 1 and March 31; on the first day of the plan year that includes
the date such requirements are satisfied, but in no event shall any employee
participate hereunder if such employee breaks seniority prior to such
commencement date.
(f) An employee shall complete an hour of service under this Section 6 for
each hour paid by the Corporation for working or for having been entitled to
work. Any hours for which an employee receives pay for having been entitled to
work, irrespective of
44
Art. III, 6(f)
mitigation of damages, shall be credited to the period or periods so entitled,
rather than to the period in which such pay is received. There shall be no
duplication of any hours of service under this Section 6.
(g) Solely for purposes of determining years of service for vesting under
this Section 6, all of the employee's years of service shall be taken into
account except the following: (i) years of service before age 18 (age 22 prior
to October 1, 1985); (ii) years of service before January 1, 1971, unless the
employee has at least 3 years of service after December 31, 1970; (iii) years
of service prior to any 1-year break in service as defined herein, until the
employee completes a year of service after such break; (iv) for non-vested
participants under this section, years of service prior to any 1-year break in
service if the number of such consecutive breaks equals or exceeds the
aggregate number of years of service prior to such break, for a non-vested
participant at work on or after October 1, 1985, years of service prior to any
1-year break in service if the number of such consecutive breaks equals or
exceeds the greater of 5, or the aggregate number of years of service prior to
such break (such aggregate number of years of service before such break shall
not include any years of service not required to be taken into account under
this Section 6 by reason of any prior break in service); (v) years of service
before October 1, 1976, if such service would have been disregarded under rules
of the Plan as in effect on October 1, 1976, regarding breaks in service; and
(vi) any year in which the employee completes less than 750 hours of service.
(h) An employee shall incur a 1-year break in service under this Section 6
in any 12 consecutive month period during which the employee does not complete
more than 375 hours of service, measured from the anniversary of the employment
commencement date. Solely for purposes of
45
Art. III, 6(h)
determining whether an employee has incurred such 1-year break in service, in
addition to hours worked which are paid by the Corporation, any hours which an
employee does not work but for which such employee is paid by the Corporation
for vacation, sickness or disability, or is entitled to be so paid, directly or
indirectly, shall be taken into consideration. For any absence from work
commencing on and after October 1, 1985 by reason of pregnancy of the
individual, childbirth, placement of a child related to an adoption, or for
child care purposes immediately following such birth or placement or for any
absence from work commencing on and after October 1, 1993 for any reason that
qualifies an employee for a leave under the Family and Medical Leave Act of
1993, the employee shall be credited with the hours of work for which such
employee otherwise would have been scheduled, or, if unable to determine such
scheduled hours, 8 hours for each work day of such absence, not to exceed a
total of 501 hours for any such absence. Such hours shall be credited in the
year in which the absence commences if necessary to prevent incurring a 1-year
break in service, otherwise such hours shall be credited in the immediately
following year.
SECTION 7. ASBESTOS SERVICE
An employee with seniority on or after October 1, 1993 who at retirement has
over 10 years of credited service which was accrued while employed on certain
asbestos job classifications as set forth in Appendix C, shall receive
additional credited service related thereto in the same manner as set forth in
Section 5 of this Article III.
46
Art. IV
ARTICLE IV
REDETERMINATIONS ON ACCOUNT OF
SOCIAL LEGISLATION
SECTION 1. REDETERMINATIONS FOR FEDERAL SOCIAL SECURITY BENEFITS FOR AGE OR
DISABILITY
(a) The benefits payable for age or disability under the Federal Social
Security Act, as amended, as now in effect, or as hereafter amended, which are
referred to in the determination of pensions under Article II shall be included
in such determination even though the employee either does not apply for, or
loses part or all of such payments through delay in applying for them, by
entering into covered employment, or otherwise.
(b) Old age benefit payments or disability benefit payments, other than
those payable on a basis of "need" or because of military service, under any
future federal legislation, amending, superseding, supplementing, or
incorporating the Federal Social Security Act, as amended, or benefits provided
therein, shall be considered as benefits for age or disability under the
Federal Social Security Act for the purposes of the Plan.
(c) If an employee is eligible for a Federal Social Security benefit for
disability or an unreduced Federal Social Security benefit for age at the time
of retirement or thereafter, such employee shall provide the Corporation with
evidence of the effective date of entitlement to such benefit.
SECTION 2. DEDUCTIONS FOR WORKERS COMPENSATION
In determining the monthly benefits payable under this Plan, a deduction shall
be made unless prohibited by law, equivalent to all or any part of Workers
47
Art. IV, 2
Compensation (including compromise or redemption settlements) payable to such
employee by reason of any law of the United States, or any political
subdivision thereof, which has been or shall be enacted, provided that such
deductions shall be to the extent that such Workers Compensation has been
provided by premiums, taxes or other payments paid by or at the expense of the
Corporation, except that no deduction shall be made for the following:
(a) Workers Compensation payments specifically allocated for
hospitalization or medical expense, fixed statutory payments for the loss of
any bodily member, or 100% loss of use of any bodily member, or payments for
loss of industrial vision.
(b) Compromise or redemption settlements payable prior to the date monthly
pension benefits first become payable.
(c) Workers Compensation payments paid under a claim filed not later than
two years after the breaking of seniority.
ARTICLE V
FINANCING
SECTION 1. TRUST FUND
The Corporation shall execute a trust agreement with a trustee or trustees
selected by the Corporation to manage and operate the pension fund and to
receive, hold and disburse such contributions, interest and other income as may
be necessary to pay such of the pensions and supplements or portions thereof
under this Plan as are not provided for by an insured fund. The Corporation
may establish an insured fund with such
48
Art. V, 1
insurance company or companies as it may select for the payment of such of the
pension and supplements or portions thereof under this Plan as are not provided
for in a trusteed fund.
The Corporation will determine the form and terms of any such trust agreement
which may authorize the inclusion of obligations and stock (common and
preferred) of the Corporation and its wholly-owned subsidiaries among the
investments of the pension fund provided for by such trust agreement; may
utilize any investment manager as defined under the Employee Retirement Income
Security Act of 1974 or regulations thereunder; may modify any such trust
agreement from time to time to accomplish the purposes of this Plan; may remove
any trustee, and select any successor trustee; and select and change insurance
companies.
SECTION 2. CONTRIBUTIONS
(a) The Corporation, subject to Article IX, Section 1, shall make such
contributions to the trustee or pay such premiums under any insured contract
for the purposes of providing pensions and supplements under the Plan as shall
be required under accepted actuarial principles and Title I of the Employee
Retirement Income Security Act of 1974 to maintain the Plan and pension or
insured fund in a sound condition and shall pay for expenses incident to the
operation and management of the Plan.
(b) The Corporation may charge to the fund expenses necessary for the
proper administration of the Plan and investment of the funds, including the
direct cost of benefit administration performed by, or on behalf of, the
Corporation for the Plan, and Pension Benefit Guaranty Corporation premiums for
participants.
(c) No employee shall be required to make any contributions to the Plan.
49
Art. V, 3
SECTION 3. IRREVOCABILITY
(a) The Corporation shall have no right, title or interest in the
contributions made by it to the trustee and no part of the pension or insured
fund shall revert to the Corporation, except that after satisfaction of all
liabilities of the Plan as set forth in Article IX, such contributions as may
have been made by the Corporation as the result of overpayments may revert to
the Corporation.
(b) The pension benefits and supplements of the Plan shall be only such as
can be provided by the assets of the pension fund or by any insured fund and
there shall be no liability or obligation on the part of the Corporation to
make any further contributions to the trustee or insurance company in event of
termination of the Plan. No liability for the payment of pension benefits or
supplements under the Plan shall be imposed upon the Corporation, the Officers,
Directors or Stockholders of the Corporation, except as otherwise may be
required by the Employee Retirement Income Security Act of 1974.
ARTICLE VI
ADMINISTRATION
SECTION 1.
The Corporation shall be responsible for the general administration of the Plan
and for carrying out the provisions thereof.
SECTION 2.
(a) The Corporation shall have all such powers as may be necessary to
carry out the provisions of the Plan except as the powers and duties of the
Corporation may be modified by any collective bargaining agreement.
50
Art. VI 2(b)
(b) Subject to the limitations of (a) above, the Corporation may from time
to time establish rules for the administration of the Plan and the transaction
of the Plan's business.
(c) In making any such determination or rule, the Corporation shall pursue
uniform policies and shall not discriminate in favor of, or against any
employee or group of employees.
ARTICLE VII
PENSION BENEFITS AND SUPPLEMENTS
SECTION 1. PENSION AND SUPPLEMENT PAYMENTS
(a) (1) Pensions and supplements shall be paid monthly.
(2) The first monthly payment of an employee's pension other than for
total and permanent disability shall become payable with the employee's consent
on the first day of the month following the month in which the employee
actually retires, and the pension shall be payable monthly thereafter.
(3) Total and permanent disability pension shall be payable monthly
during the continuance of total and permanent disability and while the
pensioner otherwise remains eligible for such benefits. Such payments shall
begin the later of:
(i) the first day of the month which includes the date the
required proof of disability is received by the Corporation, or
(ii) the first day of the month which includes the date the
employee has been continuously and totally disabled for a period of 5 months.
Successive periods of absence due to the same disability as that upon
which claim for total and
51
Art. VII, 1(a)(3)(ii)
permanent disability pension is based and aggregating at least five months will
be considered the same as one continuous absence provided that the aggregate
will not include any such absence which precedes the last day at work by more
than one year, or
(iii) the first day of the third month following the date the
required proof of disability is received by the Corporation, or
(iv) the first day of the third month following determination
by the impartial clinic that the employee is totally and permanently disabled.
These subsections (iii) and (iv) shall not be applicable (a) if the
employee dies prior to such date, or (b) where Extended Disability Benefits are
less than the benefits payable under this Plan.
(4) A supplement for an employee shall be payable in the manner
provided in Section 6 of Article II.
(5) Pension and supplement payments shall not be payable with respect
to any period for which weekly sickness and accident benefits are payable to
the employee under any plan to which the Corporation has contributed. If such
sickness and accident benefits during any month are payable for a period of
less than 4-1/3 weeks, the sum of the monthly pension benefit (excluding any
special benefit) and supplement payable for that month shall be reduced by the
percentage which such period of sickness and accident benefits is of 4-1/3
weeks.
(b) A pensioner who is reemployed by the Corporation shall cease to
receive, during such reemployment, any monthly pension benefits to which the
pensioner might otherwise be entitled. Any such reemployed pensioner will have
credited service at the time of retirement reinstated. A reemployed
52
Art. VII, 1(b)
pensioner shall accrue additional credited service as a result of such
employment and the monthly pension benefits of such pensioner shall be adjusted
with regard to such employment upon subsequent cessation of active service.
(c) In the event that it shall be found that any pensioner or surviving
spouse to whom a pension or survivor benefit is payable is unable to care for
the affairs of such pensioner or surviving spouse because of illness or
accident, any monthly pension payment and supplement or survivor benefit due
(unless prior claim therefor shall have been made by a duly qualified guardian
or other legal representative) may be paid to the spouse, parent, brother,
sister or other person or party (including private or public institutions)
deemed by the Corporation to have incurred expense for such pensioner otherwise
entitled to payment. Any such payment shall be a payment for the account of
the pensioner and shall be a complete discharge of any liability of the Plan
therefor.
(d) In order to retire under the Plan, an employee must have unbroken
seniority at the time of retirement except that a person who is eligible for
benefits under the Guaranteed Income Stream Benefit Program and is not
receiving deferred pension benefits under this Plan shall not be precluded from
retiring without return to employment even though such person shall have
incurred a break in seniority while on continuous layoff from the Corporation.
A person who, while eligible to retire, receives (i) a benefit payment
pursuant to Attachment A of Appendix K of the Collective Bargaining Agreement
or Article IV of the Supplemental Unemployment Benefit Plan, or (ii) a GIS
Redemption Payment under the Guaranteed Income Stream Benefit Program, shall
not be eligible to retire under any of the provisions of this Plan for the
period described in such agreements, plans
53
Art. VII, 1(d)
or programs, commencing with the date such person terminates employment or
breaks seniority pursuant to the terms of such agreements, plans or programs.
(e) Notwithstanding any other provision of this Section 1, an employee
attaining age 70-1/2 on and after October 1, 1993, will commence monthly
receipt of accrued benefits under this Plan, beginning April 1 of the calendar
year immediately following the year the employee attains or attained age
70-1/2. An employee attaining age 70-1/2 shall have the monthly payment based
on such employee's pension benefit accrual as of December 31 of the year in
which age 70-1/2 is attained. The actuarial value of the sum of all cash
distributions received by any otherwise eligible employee prior to such
employee's actual retirement under this Plan will be used as an offset from any
additional benefit accrual that might otherwise have been payable to such
employee as a result of working for the Corporation.
SECTION 2. RETENTION OF DEFERRED PENSION IF SEPARATED
(a) Any employee who loses accumulated credited service under the
provisions of Article III, Section 2 shall be eligible for a deferred pension
if such employee is not retired and eligible for pension benefits pursuant to
Article II, and provided the credited service of such employee at separation is
at least 5 years, or such employee satisfies the "service" requirements of
Article III, Section 6.
(b) The monthly amount of such deferred pension for an employee breaking
seniority on or after October 1, 1993 shall be a basic benefit for each year of
credited service that such employee had when such employee broke seniority,
determined by such employee's Benefit Class Code when such employee broke
seniority as set forth in the table immediately following:
54
Art. VII, 2(b)
[Download Table]
Benefit Basic
Date Class Benefit
Seniority Broke Code Rate
$
--------------- ------- -------
On October 1, 1993 A 32.50
through B 32.75
September 30, 1994 C 33.00
D 33.25
On October 1, 1994 A 33.50
through B 33.75
September 30, 1995 C 34.00
D 34.25
October 1, 1995 A 34.70
and After B 34.95
C 35.20
D 35.45
(c) A former employee who is eligible for a deferred pension may at the
election of such former employee receive
(1) a monthly pension commencing at or after age 65 determined in
accordance with subsection (b) of this Section 2, or
(2) a monthly pension commencing after age 60 and prior to age 65
determined in accordance with subsection (b) of this Section 2, such pension
being reduced by 6/10 of 1 percent for each complete calendar month by which
such former employee is under the age of 65 at the date the deferred pension
commences, or
(3) a monthly pension commencing after age 55 and prior to age 60 for
a former employee who breaks seniority on or after October 1, 1976, determined
in accordance with subsection (b) of this Section 2. Such pension shall be
multiplied by a percentage as set forth in the following table:
55
Art. VII, 2(c)(3)
[Download Table]
Age When
Pension Commences Percentage*
%
55 42.8
56 46.8
57 51.2
58 55.5
59 59.6
60 64.0
*Prorated for intermediate ages computed on the basis of the number of complete
calendar months by which the employee is under the age attained at the
employee's next birthday.
(d) The deferred pension shall be payable commencing the later of the
first day of the month following the month (i) in which such employee attains
the applicable age set forth in Section 2(c) of this Article VII, or (ii)
during which the Corporation receives a written request from such former
employee; provided that such written request shall be valid and effective only
if it is filed with the Corporation not earlier than 60 days prior to the date
such former employee first becomes eligible for such benefit, and, for such
employee who broke seniority prior to October 1, 1976, not later than the 70th
birthday, otherwise no deferred vested pension benefit shall be payable at any
time.
(e) If, prior to the commencement of deferred pension benefits, an
employee is reemployed by the Corporation and: (1) acquires seniority, or (2)
is reemployed by, and works for, the Corporation at the plant where such
employee worked immediately prior to the loss of credited service, or (3) dies
after having qualified for a deferred pension in accordance with this Section
2, such employee shall, in lieu thereof, have reinstated the credited service
in effect when
56
Art. VII, 2(e)
such deferred pension was granted; provided that if an employee with 10 or more
years of credited service
(1) is reemployed by, and works for, the Corporation within 36 months
of the date credited service was lost under Article III, Section 2, and
(2) becomes disabled while employed by the Corporation prior to
acquiring 5 months of seniority, and such disability is continuous for a period
of 5 months during which the employee makes proper application and submits
medical evidence satisfactory to the Corporation that such employee is totally
and permanently disabled as set forth in Section 3 of Article II,
such employee will be deemed eligible for a disability pension under
Section 3 of Article II, and such pension will be payable pursuant to Section 1
of Article VII, as though such employee had been an employee with seniority
throughout such disability period.
(f) The amount of any monthly pension benefit otherwise payable to a
former employee eligible for a deferred pension will be reduced by the value of
any past and future benefits paid or payable to any alternate payee(s) under a
Qualified Domestic Relations Order within the meaning of I.R.C. Section 414(p).
The actuarial value will be used to determine any amount to be paid to
any such payee(s), if applicable, and the remaining benefit entitlement of the
employee.
SECTION 3. NON-ALIENATION OF BENEFITS
The pension fund shall not in any manner be liable for or subject to the debts
or liability of any employee, separated employee, retired employee, pensioner
or surviving spouse. No right, benefit, pension or supplement at any time
under the Plan shall be subject in any manner to alienation, sale, transfer,
assignment, pledge or encumbrances of any kind except in accord
57
Art. VII, 3
with provisions of a Qualified Domestic Relations Order within the meaning of
I.R.C. Section 414(p). If any person shall attempt to, or shall, alienate,
sell, transfer, assign, pledge or otherwise encumber accrued rights, benefits,
pensions or supplements under the Plan or any part thereof, or if by reason of
bankruptcy or other event happening at any time such benefits would otherwise
be received or enjoyed by anyone else, the Corporation may terminate the
interest of such employee, pensioner or surviving spouse in any such benefit
and instruct the trustee to hold or apply it to or for the benefit of such
employee, pensioner or surviving spouse, spouse, children or other dependents,
or any of them as the Corporation may instruct; provided, however, that any
pensioner, or surviving spouse, entitled to a monthly benefit under the Plan:
(a) who elects Blue Cross, Blue Shield, or equivalent coverage, made
available under the General Motors Health Care Program for Hourly Employees
may, insofar as it is consistent with the regulations governing the plans
providing such coverage, participate in such coverage and have deducted from
the monthly pension, pursuant to authorization and direction acceptable to the
Corporation, the required contribution for such coverage.
(b) will have Federal and state income tax withheld pursuant to Federal
and state statutes or regulations unless, only with respect to Federal income
tax, elected otherwise by submitting to the Corporation authorization and
direction acceptable to the Corporation.
(c) who elects optional or dependent life insurance coverage(s) made
available under the General Motors Life and Disability Benefits Program for
Hourly Employees may have deducted from the monthly pension, pursuant to
authorization and direction, acceptable to the Corporation, the required
contribution(s) for such coverage(s).
58
Art. VII, 3(d)
(d) may have amounts of not less than $40.00, but in no event more than
10% of the retired employee's monthly pension, withheld to repay any
outstanding overpayment owing to any benefit plan of the Corporation, pursuant
to written authorization and direction acceptable to the Corporation.
ARTICLE VIII
MISCELLANEOUS PROVISIONS
SECTION 1. NO ENLARGEMENT OF EMPLOYMENT RIGHTS
The Corporation's rights to discipline or discharge employees shall not be
affected by reason of any of the provisions of the Plan.
SECTION 2. INTERNAL REVENUE SERVICE APPROVAL
This Plan as amended is contingent upon and subject to obtaining and retaining
such approval of the Commissioner of Internal Revenue as may be necessary to
establish the deductibility under Section 404 of the Internal Revenue Code for
income tax purposes of any and all contributions made by the Corporation to
this Plan and to establish this Plan and related trust as being qualified and
tax exempt under Sections 401 and 501(a) or other applicable provisions of the
Internal Revenue Code. Any modification or amendment of the Plan may be made
retroactively, if necessary or appropriate, to qualify or maintain the Plan as
a plan and trust meeting the requirements of Sections 401 and 501(a) of the
Internal Revenue Code, as now in effect or hereafter amended, or any other
applicable provisions of the federal tax laws, as now in effect or hereafter
amended or adopted, and the regulations issued thereunder.
59
Art. VIII, 3
SECTION 3. CORPORATION BOARD OF DIRECTORS APPROVAL
Continuation of the Plan as amended in 1993 is contingent upon obtaining the
approval of the Corporation's Board of Directors not later than June 1, 1994.
SECTION 4. NAMED FIDUCIARY
The Finance Committee of the Corporation's Board of Directors shall be the
Named Fiduciary with respect to the Plan. The Finance Committee may delegate
to various officers, employees and committees of the Corporation authority to
carry out such of its responsibilities as it deems proper to the extent
permitted by the Employee Retirement Income Security Act of 1974.
SECTION 5. LIMITATION OF BENEFITS
No benefits paid from this Plan will exceed the limits of Section 415 of the
Internal Revenue Code.
ARTICLE IX
AMENDMENT AND TERMINATION
SECTION 1. AMENDMENT
The Corporation reserves the right to amend, modify, suspend or terminate the
Plan by action of its Board of Directors, provided, however, that no such
action shall alter the Plan or its operation, except as may be required by the
Internal Revenue Service for the purpose of meeting the conditions for
qualification and tax deduction under Sections 401, 404, and 501(a) of the
Internal Revenue Code, in respect of employees who are represented under a
collective bargaining agreement in contravention of the provisions of any such
agreement pertaining to pension benefits and
60
Art. IX, 1
supplements as long as any such agreement is in effect. Except as provided in
Article V, Section 3, no such action shall operate to recapture for the
Corporation any contributions previously made to the trustee or insurance
company under the Plan, nor, except to the extent necessary to meet the
requirements of the Internal Revenue Service or any other governmental
authority, to affect adversely the pensions or supplements of employees already
retired or the trust fund or insured fund then securing such pensions and
supplements.
SECTION 2. TERMINATION OF PLAN
(a) If the Corporation, in accordance with Section 1 of this Article IX,
or the Pension Benefit Guaranty Corporation terminates the Plan, the amount of
the assets, which are available to provide benefits, and which are held by the
trustee as of the termination date, shall be allocated, after deducting
expenses for administration or liquidation, in the following manner and order
to the extent of the sufficiency of such assets:
(1) First, in the case of benefits payable as an annuity:
(i) In the case of the benefit of a participant or beneficiary
which was in pay status as of the beginning of the 3-year period ending on the
termination date of the Plan, to each such benefit, based on the provisions of
the Plan (as in effect during the 5-year period ending on such date) under
which such benefit would be the least;
(ii) In the case of a participant's or beneficiary's benefit
(other than a benefit described in subsection (a)(1)(i)) which would have been
in pay status as of the beginning of such 3-year period if the participant had
retired prior to the beginning of the 3-year period and if benefits had
commenced (in the
61
Art. IX, 2(a)(1)(ii)
normal form of annuity under the Plan) as of the beginning of such period, to
each such benefit based on the provisions of the Plan (as in effect during the
5-year period ending on such date) under which such benefit would be the least.
For purposes of subsection (a)(1)(i), the lowest benefit in pay status
during a 3-year period shall be considered the benefit in pay status for such
period.
(2) Second, to all other benefits (if any) of individuals under the
Plan which are guaranteed under the plan termination insurance provisions of
the Employee Retirement Income Security Act of 1974 determined without regard
to Section 4022B(a) of said Act.
(3) Third, to all other nonforfeitable benefits under the Plan.
(4) Fourth, to all other benefits under the Plan.
(b) (1) The amount allocated under any of the preceding subsections of
this Section 2 with respect to any benefit shall be properly adjusted for any
allocation of assets with respect to that benefit under a prior subsection of
this Section 2.
(2) If the assets available for allocation under subsections (a)(1)
and (a)(2) are insufficient to satisfy in full the benefits of all individuals
which are described in such subsections, the assets shall be allocated pro rata
among such individuals on the basis of the present value (as of the termination
date) of their respective benefits described in such subsections.
(3) If the assets available for allocation under subsection (a)(3) are
not sufficient to satisfy in full the benefits of individuals described
therein:
(i) Except as provided in subsection (b)(3)(ii), the assets shall
be allocated to the benefits of
62
Art. IX, 2(b)(3)(i)
individuals described in subsection (a)(3) on the basis of the benefits of
individuals which would have been described in subsection (a)(3) under the Plan
as in effect at the beginning of the 5-year period ending on the date of the
Plan's termination.
(ii) If the assets available for allocation under subsection
(b)(3)(i) are sufficient to satisfy in full the benefits described therein
(without regard to this subsection (b)(3)(ii)), then for purposes of subsection
(b)(3)(i), benefits of individuals described therein shall be determined on the
basis of the Plan as amended by the most recent Plan amendment effective during
such 5-year period under which the assets available for allocation are
sufficient to satisfy in full the benefits of individuals described in
subsection (b)(3)(i) and any assets remaining to be allocated under such
subsection shall be allocated under subsection (b)(3)(i) on the basis of the
Plan as amended by the next succeeding Plan amendment effective during such
period.
(c) If the Secretary of the Treasury determines that the allocation made
pursuant to this Section 2 results in discrimination prohibited by Section
401(a)(4) of the Internal Revenue Code of 1986, or as may be subsequently
amended, then, if required to prevent the disqualification of the plan (or any
trust under the plan) under Section 401(a) or 403(a) of such Code the assets
allocated shall be reallocated to the extent necessary to avoid such
discrimination.
(d) In the event of termination or partial termination of the Plan, the
right of all affected employees to benefits accrued to the date of such
termination, partial termination or discontinuance, to the extent funded as of
such date, are nonforfeitable.
(e) Anything in the Plan to the contrary notwithstanding, it shall not be
possible at any time prior to the satisfaction of all liabilities with respect
to
63
Art. IX, 2(e)
employees under the plan for any part of the corpus or income of the Pension
Fund to be used for, or diverted to purposes other than the exclusive benefit
of employees. After satisfaction of all liabilities to participants and
beneficiaries under the Plan, any residual assets of the Pension Fund will be
distributed to the Corporation if the distribution does not contravene any
applicable provision of law.
SECTION 3. MERGER OR CONSOLIDATION
In the case of any merger or consolidation with, or transfer of assets or
liabilities to, any other plan after September 2, 1974, each participant in the
Plan would, if the Plan then terminated, receive a benefit immediately after
the merger, consolidation, or transfer which is equal to or greater than the
benefit the participant would have been entitled to receive immediately before
the merger, consolidation, or transfer, if the Plan had then terminated.
ARTICLE X
DEFINITIONS
1. EMPLOYEE
(a) Any person regularly employed in the United States by the Corporation
or by a wholly-owned or substantially wholly-owned domestic subsidiary in
accordance with I.R.C. Section 414(b), (c), and (m) thereof, including:
(1) hourly-rate persons employed on a full time basis;
(2) hourly-rate persons on incentive pay plans;
(3) students from educational institutions who are enrolled in
cooperative training courses on hourly rate;
64
Art. X, 1(a)(4)
(4) part-time hourly-rate employees who, on a regular and continuing
basis, perform jobs having definitely established working hours, but the
complete performance of which requires fewer hours of work than the regular
work week, provided such employees work one-half or more of the employing
unit's regular work week;
(5) hourly-rate employees of Delco Electronics Corporation (DEC);
(6) represented employees of the Saturn Corporation who have made a
positive election to participate in the GM Plan pursuant to the Memorandum of
Agreement dated October 16, 1993.
(b) The term "employee" shall not include:
(1) temporary employees;
(2) part-time employees, who work less than one-half of the employing
unit's work week;
(3) employees represented by a labor organization which has not signed
an agreement making this Plan applicable to such employees;
(4) employees of any directly or indirectly wholly-owned or
substantially wholly-owned subsidiary of the Corporation acquired or formed by
the Corporation on or after January 1, 1984, except as provided under (a)(6)
above;
(5) leased employees as defined under Section 414(n) of the Internal
Revenue Code.
2. TRUSTEE OR INSURANCE COMPANY
The bank or banks, trust or insurance company or companies or any combination
thereof designated by a trust agreement or contract as the medium for financing
the Plan.
65
Art. X, 3
3. SENIORITY
Seniority means the period following the most recent date of hire by the
Corporation and subsequent to which there has been no loss of credited service
(as loss of credited service is defined in the Plan), or if the employee is
represented under a collective bargaining agreement seniority will be as
defined in such agreement. An employee who is rehired on or after October 1,
1984, and thereby has the pension discontinued, but does not have seniority
reinstated, shall be deemed, solely to satisfy purposes of The General Motors
Hourly-Rate Employees Pension Plan, to have seniority while so employed.
4. FEDERAL SOCIAL SECURITY BENEFIT
A Federal Social Security benefit for disability or an unreduced Federal Social
Security benefit for age means a benefit determined and payable under Title II
of the Federal Social Security Act, as now in effect or as hereafter amended,
without any reduction being made therefrom based on the age of the recipient.
5. TRUST FUND; PENSION FUND; INSURED FUND
The General Motors Hourly-Rate Employees Pension Plan fund established by
payments made by the Corporation in accordance with Article V herein. Such
fund therein called the trust fund shall be comprised of either a pension fund
or insured fund, or a combination thereof.
6. BASE HOURLY RATE
For the purpose referred to in Section 6(g) of Article II of this Plan only,
Base Hourly Rate shall be the higher of:
(a) the employee's highest straight-time hourly rate, or
66
Art. X, 6(b)
(b) for an employee who worked on incentive or piece work in at least 4
pay periods, the employee's average earned straight-time hourly rate for the
first 4 pay periods (or, if higher, for the last 4 pay periods) for which such
employee had any incentive earnings (provided, however, that if the employee
worked in less than 4 pay periods but during each such pay period worked, such
employee worked on incentive or piece work, the employee's average earned
straight-time hourly rate for such pay periods worked shall be used)
during the last 13 consecutive pay periods ending with the pay period which
includes the last day worked, plus any cost-of-living allowance in effect with
respect to the employee's last day worked for the Corporation.
7. BASIC BENEFIT
The monthly benefit payable under the Plan for the lifetime of a retired or
separated employee, including a benefit reduced by a percentage because of
early retirement. The term "basic benefit" shall not include any temporary
benefit, special benefit, or supplement payable under the Plan.
8. AGE 62 AND ONE MONTH
"Age 62 and one month" means age 62 and one month except that for purposes of
determining the month for which the temporary benefit provided in Article II,
Section 4 and the early retirement and interim supplements provided in Article
II, Section 6 shall cease and the month for which the basic benefit is
redetermined in accordance with Article II, Section 4, it shall mean age 62 if
both a temporary benefit, early retirement supplement, or interim supplement
under the Plan and a benefit under the Federal Social Security Act could
otherwise be payable.
67
Art. X, 9
9. ACTUARIAL VALUE
The actuarial value as of any determination date shall be calculated on the
basis of the UP-84 mortality table and the applicable interest rate used by the
Pension Benefit Guaranty Corporation (PBGC) as of the first day of the plan
year preceding the determination date.
68
Appendix A
APPENDIX A
(HOURLY-RATE EMPLOYEES PENSION PLAN)
A Benefit Class Code for the sole purpose of this Plan is hereby established
for each job classification in effect on September 14, 1993 on the basis of the
maximum base hourly rate (which term as used herein shall include incentive
earnings unless otherwise noted) applicable to the job classification on that
date, as follows:
[Download Table]
For Job Classifications Benefit
Having a Maximum Class
Base Hourly Rate of Code
On or after Less than $16.16 A
September 14, 1993 $16.16 but less than $16.38 B
but prior to $16.38 but less than $17.31 C
October 24, 1993 $17.31 and over D
On or after Less than $17.98 A
October 24, 1993 $17.98 but less than $18.21 B
$18.21 but less than $19.17 C
$19.17 and over D
(1) The Benefit Class Code applicable to an employee is the Benefit Class
Code for the job classification held by the employee for the greatest number of
calendar days during the 24 consecutive months immediately preceding the last
day worked.
(2) The Benefit Class Code to be established for any new job
classification put into effect after September 14, 1993 shall be whichever
Benefit Class Code is applicable to other job classifications having the same
maximum base hourly rate on the date that such new job classification is put
into effect. With respect to a job classification that was obsolete as of
September 14, 1993 a hypothetical maximum base hourly rate applicable thereto
shall be determined by increasing the maximum base hourly rate for that job
69
Appendix A(2)
classification at the time of its discontinuance to the extent necessary so as
to give effect to general wage increases (including cost-of-living allowance
transfers) that have occurred since such discontinuance, and the Benefit Class
Code for such classification so derived shall be whichever Benefit Class Code
herein is applicable to other job classifications having the same maximum base
hourly rate on that date.
(3) For purposes hereof, the maximum base hourly rate of a job
classification paid on a day-work basis at any plant or facility shall be the
maximum straight-time hourly rate for that job classification at such plant or
facility (excluding any cost-of-living allowance and premiums).
(4) The maximum base hourly rate of a job classification in effect on
September 6, 1967 and paid under an incentive method of pay at any plant or
facility shall be the average straight-time hourly earned rate (including
incentive earnings and any wage increases and cost-of-living allowance
transfers which, as of September 6, 1967, were not factored in the base rate of
the job classification but excluding any cost-of-living allowance and premiums)
for all hours worked by all employees in that job classification at such plant
or facility for the period beginning September 5, 1966, and ending September 3,
1967, plus any wage increases and cost-of-living allowance transfers effective
for that job classification subsequent to September 6, 1967.
In the event an employee is transferred to a job which results in a lower basic
benefit rate, such employee's vested pension benefit, if any, shall not be less
than the amount of such employee's accrued pension benefit on the date of such
transfer to such job.
70
Appendix B
For the sole purpose of Article III, Section 5 of the Plan, all approved job
classifications set forth in the Local Wage Agreements as of September 14, 1973
of the Central Foundry Plants (currently GM Powertrain) - Danville, Illinois,
Defiance, Ohio, Malleable Iron and Grey Iron, Saginaw, Michigan, are designated
foundry jobs at the respective plant locations except for those job
classifications listed herein for each such respective plant location. No
other job classifications shall be designated foundry jobs.
GM POWERTRAIN, DANVILLE, ILLINOIS
Bulldozer, Operator
Bus Person
Cashier
Cook
Crane Operator, Locomotive
Crane Operator-Yard & Bridge
Driver - Licensed Trucks - Tractor & Trailer
End Loader Operator
Kardex Clerk
Kitchen Help
Pattern & Maintenance Clerk
Pattern Storage and Transport
Salvage Reclaimer
Scrap Cutter - Torch
Shipping Clerk
Sprue Crane Hook Up
Stock Room Clerk
Stock Room and Receiving
Warehouse Attendant
Window Washer
Yard Labor
Yard Switchperson
Garage Mechanic
Machinist
Pattern Maker, Wood & Metal
Power House Operator
71
Appendix B
GM POWERTRAIN, DEFIANCE, OHIO
Bus Person
Cashier
Clerk - Pattern and/or Maintenance
Cook
Crane Operator - Locomotive
Dispatcher - Materials
Driver - Licensed Trucks - Tractor
and Trailer - Semi
Heavy Equipment Operator
Inspection Department - Inspection
(Special Assignment)
Kitchen Help
Locomotive Operator
Safety Equipment Repair
Salvage Reclaimer
(2) Shipping Clerk
Yard Labor
Blacksmith
Casting Layout
(3) Garage Mechanic
(1) Machinist
Pattern Maker - Leader
Pattern Maker - Wood & Metal
Shift Operating Engineer
Tool Grinder
(1) Designated as a foundry job only for those employees so classified
who work in Plant 2, 816 Department.
(2) Designated as a foundry job only for those employees so classified
who work in Plant #1, 539 Department.
(3) Designated as a foundry job only for those employees so classified
who work in Plant #2 816 Department, Battery Charge Area.
72
Appendix B
GM POWERTRAIN MALLEABLE IRON PLANT,
SAGINAW, MICHIGAN
Bull Dozer Operator
Bus Person
Cashier
Clerk - Pattern and Maintenance
Cook
Crane Operators - Locomotive
Driver-Licensed Trucks, Tractor,
and Trailer
Kitchen Help
Salvage Reclaimer
Stock Room and Receiving
Yard Labor
Blacksmith
Core and/or Mold Maker - Experimental -
Bench & Floor
Garage Mechanic
Inspector - Layout
Machinist - Maintenance
Machinist - Miscellaneous
(1) Machinist - Pattern
Pattern Maker - Leader
Pattern Maker - Wood and Metal
Power House Operator
(1) Designated as a foundry job only for those employees so classified
who work in Department 16.
73
Appendix B
GM POWERTRAIN GREY IRON PLANT,
SAGINAW, MICHIGAN
(1) Attendant - Pattern Storage
Attendant - Pattern Storage - Leader
Clerks - Receiving - (Includes
Inspectors)
Crane Hooker or Signal Person
Crane Operator - Locomotive
Crib Attendant - Maintenance
Crib Attendant - Pattern Shop
Drill Press Operator
Driver - Licensed Passenger Cars
Drivers - Licensed Trucks -
Receiving & Yard
(1) Equipment Operator - Special
(Including Bay City Shovel,
Bull Dozer, Pay Loader
Shovel Operator)
Field Sand Gasoline Locomotive
Operator
Flask Repair - Metal Flask
Flask Repair - Metal Flask - Leader
Gardener
Laborer - Yard - Maintenance - Leader
Labor - Yard - Maintenance -
Railroad Track Repair
Locker Room Attendant
Milling Machine Operator - Driers
(2) Oiler - Machinery, Equipment and Motors
Power House Attendant
Receiving Department - Leader
Salvage - Flash Cutter
Crane Repair - (Also Operates Crane)
Crane Repair - Leader
Die Repair
Flask Welder
Grinder - Cutter
Grinder Operator - Blanchard
Inspector - Layout
74
Appendix B
GM POWERTRAIN GREY IRON PLANT,
SAGINAW, MICHIGAN (CONT'D.)
Machine Repair - Machinist - Maintenance-
Leader
Machine Repair - Machinist - Maintenance
Machine Repair - Machinist - Pattern Shop
Power House - Engineer - Class "B"
Power House - Fireperson
Power House - Repair
Power House - Repair - Leader
Truck Repair - Gas
Truck Repair - Gas - Leader
Truck Repair - Gas and Electric
(3) Welder - Maintenance - Gas & Arc
Welder - Tool and Die
(1) Designated a foundry job only for credited service accrued on and
after July 27, 1987.
(2) Not designated as a foundry job for those employees so classified
who work in Department 32.
(3) Not designated as a foundry job for those employees so classified
who work in Department 30.
75
Appendix B
APPENDIX B
Any job classification in effect at a plant specified in Appendix B that was
discontinued at such plant prior to September 14, 1973 shall be designated a
foundry job if the work that was performed by employees on such discontinued
job classification shall conform substantially to work performed at the same
plant by employees on a job classification designated as a foundry job for such
plant.
76
Appendix C
APPENDIX C
For the sole purpose of Article III, Section 7 of the Plan, only those job
classifications specifically listed herein, which are set forth in the Local
Wage Agreement in effect as of October 1, 1979 at Delco Moraine Division,
Dayton, Ohio, may be designated asbestos jobs. Such designation as an asbestos
job will apply only to these classifications at the above-specified plant
location under the conditions specifically set forth herein. No other job
classifications shall be designated asbestos jobs.
DELCO MORAINE DIVISION, DAYTON, OHIO
The following job classifications involved
in the blending and processing of raw
asbestos are designated asbestos jobs for
employees so classified who are assigned to
Departments 73M, 515, 523, and 530.
Experimental Lining
Extruding Machine Operator
Janitors
Job Setter
Lining-Grinder
Machine Cleaners
Preform of Disc Brake Linings
Production Heat Treat Linings
Protective Coating Operator
Sensor Riveters
Stock Handler
Weigh and Mix Materials
77
Standards
STANDARDS FOR APPLICATION OF PROVISIONS REGARDING RETIREMENT UNDER MUTUALLY
SATISFACTORY CONDITIONS
GENERAL MOTORS HOURLY-RATE
EMPLOYEES PENSION PLAN
Article II, Section 2(b) of the General Motors Hourly-Rate Employees Pension
Plan provides that an employee may be retired early under mutually satisfactory
conditions providing such employee is otherwise eligible. The following
standards have been adopted by the Corporation as a guide in the application of
this provision.
STANDARDS
A. An employee who is unable to work efficiently by reason of permanent
disability:
The retirement must be in the best interest of the Corporation. It is
also intended to benefit employees who are unable to work efficiently by reason
of permanent disability. It contemplates that the efficiency of operation will
be improved by reason of the retirement which may be the case in any of the
following situations:
(1) The employee is no longer physically or mentally capable of
performing such employee's work in an efficient and satisfactory manner.
(2) The employee, though still capable of performing such employee's
work satisfactorily, is prevented by chronic physical illness or physical
disability (less than total) from working regularly to the extent that
efficiency of operation is interfered with.
(3) The employee's condition, based on medical evidence satisfactory
to the Corporation, is such that,
78
Standards
although able to perform the duties of such employee's job efficiently and
satisfactorily, such employee would thereby be jeopardizing personal health or
that of fellow employees.
(4) The employee is on disability leave or is laid off because such
employee is unable to do the work offered by the Corporation efficiently and
satisfactorily although able to perform efficiently and satisfactorily other
work in the plant to which the employee would have been entitled if such
employee had sufficient seniority, and the employee's condition, based on
medical evidence satisfactory to the Corporation, is expected to be continuous
until normal retirement age.
B. An employee who is laid off:
Retirement under mutually satisfactory conditions will be available to an
employee who is laid off
(i) as a result of a plant closing or discontinuance of operations, or
(ii) whose layoff appears to be permanent,
and in either case has not been offered suitable work by the Corporation
in the same labor market area.
79
Statement
STATEMENT OF INTENT
Notwithstanding the provisions of Exhibit A, Section 3(c) of The General Motors
Hourly-Rate Employees Pension Plan; Exhibit D, Articles V and VI of the
Supplemental Unemployment Benefit Plan, and the Items Agreed to by GM-UAW SUB
Board of Administration; and Exhibit E, Section 6(a) of the Guaranteed Income
Stream Benefit Program, which deal with local union representatives for each of
these benefit plan areas, the Corporation and the Union agree as follows:
1. APPOINTMENT OF BENEFIT REPRESENTATIVES
(a) Local union benefit representative(s) and alternate(s) shall be
appointed or removed by the GM Department of the International Union.
Management benefit representative(s) shall be appointed or removed by
management.
(b) Temporary replacement appointments may be made by the local union
President for a minimum of one week and a maximum of four weeks. Replacement
appointments for any absence in excess of four weeks also shall be made by the
GM Department of the International Union. Replacement appointments in
situations when the benefit representative(s) and alternate(s) are both absent
but for less than one week and are on a leave of absence pursuant to the
provisions of Paragraph 109 of the GM-UAW National Agreement may be made by the
local union President. Any problems that may arise under this procedure may be
discussed by the Corporation with the GM Department of the International Union.
(c) A local union benefit representative shall be an employee of the
Corporation having at least one year of seniority, and working at the plant
where, and at the time when, such employee is to serve as such
80
Statement
representative or alternate. No such representative or alternate shall
function until written notice has been given by the GM Department of the
International Union to the Corporation. In the case of temporary appointments,
the notice should be given to local Management with additional copies forwarded
to the GM Department of the International Union and the Corporation.
2. NUMBER OF LOCAL UNION BENEFIT
REPRESENTATIVES
(a) In plants having a total of less than 600 employees, there may be
one local union benefit representative and one alternate.
(b) In plants having a total of 600 but less than 1,200 employees,
there may be two local union benefit representatives and two alternates.
(c) In plants having a total of 1,200 but less than 2,000 employees,
there may be three local union benefit representatives and three alternates.
(d) In plants having a total of 2,000 but less than 5,000 employees,
there may be four local union benefit representatives and three alternates. If
such plants have a total of 1,400 or more employees on the second and third
shifts combined, there may be five local union benefit representatives and two
alternates.
(e) In plants having a total of 5,000 but less than 8,000 employees,
there may be five local union benefit representatives and two alternates.
(f) In plants having a total of 8,000 but less than 10,000 employees,
there may be six local union benefit representatives and two alternates.
(g) In plants having a total of 10,000 or more employees, there may be
seven local union benefit representatives and two alternates.
81
Statement
The number of employees as used herein shall include active employees,
employees on sick leave of absence, and employees on temporary layoff.
3. Of the total number of local union benefit representatives and
alternates otherwise available, one or more representatives and alternates may
be assigned to the second shift or third shift so long as the total number of
representatives and alternates set forth in Paragraph 2. above is not exceeded.
4. When plant population changes occur which would increase or decrease
the number of local benefit plan representatives, such population changes must
be in effect for a period of six consecutive months before such adjustment is
made in the number of representatives, unless such population change results
from the discontinuance or addition of a shift or the opening or closing of a
plant. In the event of a cessation of operations, the Corporation, at the
request of the UAW General Motors Department of the International Union, will
provide for the continuance of Benefit Representation. Other situations
involving a sudden significant change in the number of employees at a location
may be discussed by the Corporation and the GM Department of the International
Union.
5. Benefit Plan districts will be established by local mutual agreement.
Only one local union benefit representative will function in a benefit district
and will handle specified benefit plan problems raised by employees within that
district pertaining to the Pension Plan, Life and Disability Benefits Program,
Health Care Program, Supplemental Unemployment Benefit Plan, and Guaranteed
Income Stream Benefit Program agreements. An alternate will be permitted to
function in the absence of a local benefit plan representative on the benefit
plan representative's shift.
6. Any local union benefit representative may function as the member of
the local Pension
82
Statement
Committee, as the member of the local Supplemental Unemployment Benefit
Committee, as a member of the Guaranteed Income Stream Benefit Committee or
handle benefit problems under the Life and Disability Benefits Program and the
Health Care Program with respect to employees in such representative's Benefit
Plan district. An alternate may function in the absence of a local union
benefit representative.
7. The time available to a local union benefit representative and
alternate with respect to a Benefit Plan district may not exceed eight (8)
regular working hours of available time in a day.
(a) On a local union benefit representative's regular shift and
without loss of pay, a local union benefit representative(s) may accompany the
management benefit representative for a mutually agreeable joint off-site visit
to a local hospital, an impartial medical opinion clinic or a health
maintenance organization, or other similar type joint ventures, with respect to
benefit plan matters.
(b) A local union benefit representative attending a scheduled
Management-Union Benefit Plan meeting on a shift other than the
representative's regular shift will be paid for time spent in such meeting.
(c) One local union benefit representative attending the local union
retiree chapter meeting will be paid for time spent in such meeting.
(d) The time spent in such local union retiree chapter meetings,
off-site visits or Management-Union Benefit Plan meetings will not result in
additional hours which exceed regularly scheduled shift hours, overtime
premiums or an increase in representation time being furnished as a result of
the representative(s) not working a full shift on the representative's regular
shift.
83
Statement
8. The local union benefit representative shall be retained on the shift
to which the representative was assigned when appointed as such representative
regardless of seniority, provided there is a job that is operating on the
representative's assigned shift which the representative is able to perform.
9. The Benefit Plans - Health and Safety office may be used by local
union benefit representatives during their regular working hours:
(a) To confer with retirees, beneficiaries, and surviving spouses who
ask to see a local union benefit representative with respect to legitimate
benefit problems under the Pension Plan, Life and Disability Benefits Program
and Health Care Program Agreements.
(b) If the matter cannot be handled appropriately in or near the
employee's work area, to confer with employees who, during their regular
working hours, ask to see a local union benefit representative with respect to
legitimate benefit problems under the Pension, Life and Disability Benefits,
Health Care, SUB, and GIS Agreements.
(c) To confer with employees who are absent from, or not at work on,
their regular shift and who ask to see a local union benefit representative
with respect to legitimate benefit problems under the Pension, Life and
Disability Benefits, Health Care, SUB, and GIS Agreements.
(d) To write position statements and to complete necessary forms with
respect to a case being appealed to the Pension, SUB, or GIS Boards by an
employee in the local union benefit representative's Benefit Plan district, and
to write appeals with respect to denied life, health care, and disability
claims involving employees within the representative's Benefit Plan district.
84
Statement
(e) To file material with respect to the Pension, Life and Disability
Benefits, Health Care, SUB and GIS Agreements.
(f) To make telephone calls with respect to legitimate benefit
problems raised by employees under the Pension, Life and Disability Benefits,
Health Care, SUB, and GIS Agreements.
85
[INTENTIONALLY LEFT BLANK]
86
LETTER
AGREEMENTS
87
[INTENTIONALLY LEFT BLANK]
88
Workers Compensation
GENERAL MOTORS CORPORATION
October 24, 1993
International Union, United Automobile,
Aerospace and Agricultural Implement
Workers of America, UAW
8000 East Jefferson Avenue
Detroit, Michigan 48214
Attention: Mr. Stephen P. Yokich
Vice President and Director
General Motors Department
Dear Mr. Yokich:
This letter of agreement constitutes an amendment to the 1993 GM-UAW Pension
Plan and shall be construed and applied as if it were therein incorporated.
Pursuant to Subsection 354(14) of the Michigan Workers Compensation Act, as
amended, until termination or earlier amendment of the 1993 Collective
Bargaining Agreement, workers compensation for employees shall not be reduced
by disability retirement benefits payable under the Hourly-Rate Employees
Pension Plan.
Very truly yours,
GENERAL MOTORS CORPORATION
Gerald A. Knechtel
Vice President
Accepted and Approved:
INTERNATIONAL UNION, UNITED AUTOMOBILE, AEROSPACE AND AGRICULTURAL IMPLEMENT
WORKERS OF AMERICA, UAW
By: Stephen P. Yokich
89
Lump-Sum Payment
GENERAL MOTORS CORPORATION
October 24, 1993
International Union, United Automobile,
Aerospace and Agricultural Implement
Workers of America, UAW
8000 East Jefferson Avenue
Detroit, Michigan 48214
Attention: Mr. Stephen P. Yokich
Vice President and Director
General Motors Department
Dear Mr. Yokich:
During these negotiations the parties agreed upon certain lump-sum payments to
be made to eligible retirees and surviving spouses.
Lump-sum payments would be made, on the basis described below, by Corporation
check or draft paid directly to retired employees and surviving spouses.
1. The following persons will be eligible for lump-sum payments:
(a) employees who retired prior to October 1, 1993 under the terms of
Article II, Sections 1, 2 or 3 of the Plan and who are receiving
benefits from the Plan as of the first of the month for which a
lump-sum payment would be made.
(b) eligible surviving spouses of employees who retired under the
terms of Article II, Sections 1, 2 or 3 of the Plan prior to
October 1, 1993, or surviving spouses eligible for a benefit prior
to September 14, 1993 pursuant to Article II, Section 5(g) of the
Plan (excluding surviving spouses of former employees who broke
seniority and who are eligible for a deferred pension), or
surviving spouses eligible for a benefit
90
Lump-Sum Payment
under Article II, Section 8(d) and who are eligible for a pension
benefit from the Plan as of the first of the month for which a
lump-sum payment would be made.
2. Amount of Benefit:
(a) a maximum payment of $570 will be made to retired employees with
thirty or more years of credited service. The payment to
pensioners with less than thirty years of credited service will be
$19 per year of credited service (with a proportional amount for
fractional years) or a minimum payment of $190.
(b) eligible surviving spouses will receive 60% of the amount that
would have been payable to the retired employee under (a) above.
3. Dates of Payment: December 1994 and December 1995.
Please indicate your concurrence in the proposed lump-sum payments arrangement
and other provisions of this letter.
Very truly yours,
GENERAL MOTORS CORPORATION
Gerald A. Knechtel
Vice President
Accepted and Approved:
INTERNATIONAL UNION, UNITED AUTOMOBILE, AEROSPACE AND AGRICULTURAL IMPLEMENT
WORKERS OF AMERICA, UAW
By: Stephen P. Yokich
91
Misc. (Benefits Training and Education)
GENERAL MOTORS CORPORATION
October 24, 1993
International Union, United Automobile
Aerospace and Agricultural Implement
Workers of America, UAW
8000 East Jefferson Avenue
Detroit, MI 48214
Attn: Mr. Stephen P. Yokich
Vice President and Director
General Motors Department
Dear Mr. Yokich:
During these negotiations, the parties renewed their commitment to provide
on-going training programs for Company and Union Benefit Representatives so as
to improve the quality of service provided to hourly employees. The parties
also recognized the importance of communications programs aimed at educating
employees about their benefits.
It was agreed that such training and education programs will be developed
jointly and the cost of developing and implementing such programs properly will
be paid from the National Joint Skill Development and Training Fund as approved
by the Executive Board for Joint Activities. These include, but are not
limited to, the following:
o The annual joint GM-UAW Benefits Training Conference.
o Continuing education program for Union Benefit Representatives
provided by the parties. Such program is expected to be implemented
beginning in 1994 or as soon thereafter as practicable.
o Conduct periodic on-site plant surveys and audits to evaluate training
and education needs to improve employee service.
92
Misc. (Benefits Training and Education)
o Ad hoc training meetings on legal developments or other special needs.
Included also are any travel, lodging and living expenses incurred by Company
and Union representatives in relation to the above. In addition, the Fund will
pay for lost time (eight hours per day base rate plus COLA) of Union Benefit
Representatives attending such programs away from their locations. The Company
will pay for the time (eight hours per day base rate plus COLA) of alternate
Union Benefit Representatives who replace those attending such programs.
Very truly yours,
GENERAL MOTORS CORPORATION
Gerald A. Knechtel
Vice President
Accepted and Approved:
INTERNATIONAL UNION, UNITED AUTOMOBILE,
AEROSPACE AND AGRICULTURAL IMPLEMENT
WORKERS OF AMERICA, UAW
By: Stephen P. Yokich
93
Misc. (Improving Benefits Service Through Technology)
GENERAL MOTORS CORPORATION
October 24, 1993
International Union, United Automobile
Aerospace and Agricultural Implement
Workers of America, UAW
8000 East Jefferson Avenue
Detroit, MI 48214
Attn: Mr. Stephen P. Yokich
Vice President and Director
General Motors Department
Dear Mr. Yokich:
During these negotiations, the parties recognized the need to move ahead with
the development of technological applications to improve the quality of service
provided to hourly employees.
1. The parties recognize the need to provide the necessary tools to Local
Union Benefit Representatives so that they may improve the service
they are providing to hourly employees. Local Union Benefit
Representatives require basic information that can be accessed quickly
in order to confidently and accurately answer many of the questions
they receive. In addition, the removal of benefit administrators from
the plants, has removed a traditional source of specific benefit
information regarding their members which previously had been
available to the Local Union Benefit Representatives. The information
required, as identified by the Union, currently resides in several
data systems which would have to be adapted for use by the Local Union
Benefit Representatives. It would be necessary to incorporate systems
modifications to assure security and to limit access to information
for UAW hourly employees at their particular location.
2. The GM Department of the International UAW and the GM Employee
Benefits activity jointly will develop a proposal covering the
hardware and software requirements associated with this effort. Upon
approval by the Executive Board of
94
EX-10.(A) | Last Page of 123 | TOC | 1st | Previous | Next | ↓Bottom | Just 123rd |
---|
Misc. (Improving Benefits Service through Technology)
Joint Activities, the cost of development, installation and training,
will be charged to the National Joint Skill Development and Training
Fund. It is contemplated the required system modifications will be
implemented during 1994 or as soon as practicable.
3. The parties recognize the opportunity for a significant improvement in
service to hourly employees contemplating retirement. Therefore, the
parties agreed to investigate enhancing the current automated pension
estimating application for hourly employees. The cost of these
enhancements will be considered as costs of administration chargeable
to the Pension Plan.
4. The parties also agreed to explore the implementation of a telephone
based annual open enrollment in health care with emphasis on a
paperless system.
5. The parties further agreed to continue to provide hourly employees
with the use of a Voice Response System for inquiry and transactions
in the Personal Savings Plan.
In conclusion, during the term of the new Agreement, the GM Employee Benefits
activity and the GM Department of the International UAW pledge to carefully
consider every opportunity to improve the quality and efficiency in benefits
delivery.
Very truly yours,
GENERAL MOTORS CORPORATION
Gerald A. Knechtel
Vice President
Accepted and Approved:
INTERNATIONAL UNION, UNITED AUTOMOBILE,
AEROSPACE AND AGRICULTURAL IMPLEMENT
WORKERS OF AMERICA, UAW
By: Stephen P. Yokich
95
Dates Referenced Herein and Documents Incorporated by Reference
↑Top
Filing Submission 0000950124-95-000665 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)
Copyright © 2024 Fran Finnegan & Company LLC – All Rights Reserved.
About — Privacy — Redactions — Help —
Fri., Mar. 29, 3:59:59.2am ET