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GM union leader wins fight to change automaker’s retirement plan [Video]

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Personal Finance

Now over four times as many workers can retire with a $50,000 retirement package, thanks to the efforts led by UAW Local 14 President Tony Totty.

TOLEDO, Ohio — A local union leader has spent the last few months fighting for changes for some of his soon-to-be retirees, and now, he said that fight has inspired a nationwide update to the General Motors retirement program.

It all stemmed from GM’s special attrition program, a $50,000 retirement package people are awarded after they have worked 30 years or more in the union as a thank you for their service. But until recently, very few people could use it.

United Auto Workers Local 14 President Tony Totty said there is no cap on how many people retiring from Stellantis or Ford can receive this benefit. But for GM, only 2% of people per shop could apply.

That meant only around 27 of Local …

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