GM BUYOUTS

GM BUYOUTS

A closer look

General Motors’ 2006 attrition plan is the model for another buyout and retirement program that’s still being negotiated. Details based on years of service:

30 years: Received a $35,000 bonus to retire with pension and benefits.

27 to 29 years: No bonus but receive pension and full benefits.

10 to 26 years: $140,000 pretax payment to leave the company.

Under 10 years: $70,000 pretax payment to leave the company.

Source: GM