GM CONTRACT

GM CONTRACT

What it says

Details of the tentative, four-year labor contract at General Motors:

Job security: GM committed to continuing production at 16 assembly plants during the contract. GM committed to future products for 12 of those plants, including Lordstown, and said two other plants could receive future products, depending on demand and other factors.

Raises: No pay raises but annual bonuses would be $3,000 to start with two lump-sum payments equal to 3 percent of annual pay and one equal to 4 percent of annual pay.

Wages: New workers who are hired into nonproduction jobs would be paid at a lower wage tier of about $16 an hour.

Temporary workers: 3,000 would become permanent employees.

COLA: Part of the annual cost-of-living adjustment would be diverted to help pay for retiree health care.

Retirees: GM would pay $29.9 billion to fund a retiree health care plan, which would be administered by the union.

Source: United Auto Workers