BUYOUT

BUYOUT
The details of the deal
Key points of the buyouts and retirement incentives offered to General Motors Corp. workers:
BUYOUT DETAILS
Employees with 10 or more years of service can get a one-time payment of $140,000.
Employees with less than 10 years would get $70,000.
Anyone accepting a buyout gives up all post-retirement benefits, including health care, but vested pension benefits would not be affected.
RETIREMENT DETAILS
Anybody taking a normal or early retirement gets $35,000, retroactive to Oct. 1, 2005. Normally, employees can retire at 65 years of age or 30 years of service.
Employees with at least 27 years of service but less than 30 can take a special pre-retirement option, under which they would receive slightly less than their full wages until they reach 30 years, at which point they can retire with full benefits.
Sources: UAW officials, UAW-GM-Delphi Special Attrition Program Framework Agreement; GM spokesmen