As a result of 2015 National Negotiations those members who hold Skilled Trades credentials and are working in a production assignment will soon be receiving an application in the mail. This application will allow these members to indicate which Skilled Trade groups they are willing to be retrained in and the locations they would be interested in relocating to. When skilled job openings cannot be filled with a matching trade member through the Appendix A placement process, the National Parties may offer a retraining position to a member who has applied to that skilled group and location. Other placement opportunities, in accordance with the National Agreement, may be offered to these members.
Profit Sharing Information
On February 3, in accordance with the UAW-GM National agreement, GM announced a maximum profit sharing payment of $11,000.00 for eligible hourly workers who accrued 1,850 or more compensated hours during 2015. Eligible hourly workers who accrued less than 1,850 compensated hours will receive a pro-rated share based on the number of accrued compensated hours. Payment is scheduled to be included in active employee paychecks received on Friday, February 26. Eligible retirees (those who retired and had compensated hours in 2015) will receive their payment Friday, March 25.
Optional Life and Dependent Life Insurance
As a result of discussions between the UAW and General Motors, certain hourly workers will have a life insurance enrollment opportunity under the General Motors Life and Disability Benefits Program for Hourly Employees for Optional Life and Dependent Life Insurance coverage’s.
Hourly workers will be able to make elections for Optional Life and Dependent Life Insurance through a Special Enrollment conducted by MetLife from March 7, 2016 through March 18, 2016. Workers on active status or a Leave of Absence of six months or less as of December 18, 2015 will be eligible to first time enroll at the $10,000 or $20,000 Optional Life Insurance coverage level or increase current coverage by two levels without providing proof of insurability. Members will also be eligible to enroll for or increase Dependent Life Insurance by answering five health questions.
Enrollment Kits will be mailed to the address of record of all eligible workers beginning February 29, 2016. Members who have questions or need replacement Enrollment Kits may call 1-866-607-9794 Monday through Friday, between 8:30 AM and 5:00 PM Eastern Daylight Savings Time.
Personal Savings Plan
- IRS Limits for 2016
- Participant-Directed Annual Increase Program (AIP)
- Investment Election in 1% Increments
- Saving for College with a 529 College Savings Plan
- Keep Your Beneficiary Designation Current
-IRS Limits for 2016
You can defer up to 100% of your weekly eligible base pay into the PSP, up to the IRS contribution limits outlined below.
There was no change to the IRS annual limits from 2015.
|Pre-tax/Roth Limit||Includes combined pre-tax and Roth contributions made by you.||$18,000||$18,000|
|Catch-up Contribution Limit||Individuals age 50 or over (or who will be age 50 by year-end) have opportunity to save additional pre-tax and/or Roth savings.
This requires you to make a separate election specifically for Catch-up (it will not happen automatically).
|Defined Contribution Savings Limit||The maximum amount of combined employee and GM contributions.||$53,000||$53,000|
|Highly Compensated Employee Limit||The amount of income to define a highly compensated employee.||$120,000||$120,000|
Once you hit your Pre-tax/Roth limit for the year ($18,000), your contributions will automatically stop. If you wish to continue to save on an After-Tax basis, you will need to make your election online at gmbenefits.com or contact the GM Benefits and Services Center at 1-800-489-4646.
-Participant-Directed Annual Increase Program (AIP) – Available Now!
Participant-Directed Annual Increase Program (AIP) is a service that automatically increases your contribution each year at a rate and date that you choose.
To enroll, simply log onto www.netbenefits.com. From the homepage, click Contribution Amount on the “Quick Links” drop down. Then select Annual Increase Program.
-1% Increments for Investment Elections – Option Now Available!
Previously, you could only make investment elections in 10% increments. Effective now, you may make investment elections in 1% increments. To change your investment elections on file, log on to www.netbenefits.com. From the homepage, click Contribution Amount on the “Quick Links” drop down. Then select Contribution Amount.
-Saving for College with a 529 College Savings Plan
As result of 2015 national negotiations, you are being provided with more information on 529 College Savings Plans.
A 529 Plan is a type of savings plan that can help you save funds for future college costs. 529 plans, named for Section 529 of the Internal Revenue Code that created these types of plans, are operated by states or educational institutions.
Most states now offer some kind of 529 plan. Each state can decide how to set up its plan, so plans can be different from state to state. You can participate in a 529 plan in any state you choose. It is a good idea to research the features and benefits to find the plan that best suits your needs.
For more information, see the flyer Planning for College – Why Save? located in the Plan Information & Documents area of NetBenefits. The flyer outlines different types of college savings plans, including 529 plans.
-Keep Your Beneficiary Designations Current!
Has a life event occurred in your family? A marriage, divorce, or death? Participants often fail to update their beneficiary election after a death or divorce occurs in their family. The same is true of a birth or adoption. Keeping your beneficiary information up-to-date and complete can ensure that your PSP account balance will be paid to your family member(s) or individual(s) you want to receive your account balance in the event of your death.
Take the time today to review your beneficiary. If necessary, update your beneficiary using the online beneficiary tool at www.netbenefits.com. Click on Profile>Beneficiaries.
As always, should you have questions regarding your benefits please contact your Local Union Benefits Representative.
Information is priceless, so is getting it quickly. Save trees. Save time. Go Paperless
Hereʼs how to receive important benefits information via email – itʼs easy!
- Login to Netbenefits.com
- Select the “Profile” link in the top right corner of the Home Page.
- Under “About You”, provide or confirm your email address by selecting “Email Address”.
- Under “Preferences”, select “Mail Preferences”.
- In the “Required Disclosures” row, select “Update”.
- Review the Consent and click the “I Consent” button.
Youʼre all set! Your delivery preference for required disclosures (prospectuses, certain plan literature, and other legally required documents) is now set to eDelivery and you will begin receiving these materials via email. If you have any questions, you can call the GM Benefits & Services Center at 1-800-489-4646.
Hourly Employee Profit Sharing – Deferral Election Window Period Announced
In the event that there is a payout under the Profit Sharing Plan, you will have the opportunity to contribute all or a portion of your payout in one percent increments, up to 100 percent, or a flat dollar amount, to your Personal Savings Plan (PSP) on a pre-tax basis, subject to tax law limitations. Deferral contribution elections will be accepted between 8:00 a.m. EST on January 28, 2016 and 4 p.m. EST on February 11, 2016. Elections can be made online at gmbenefits.com or by calling the GM Benefits & Services Center at 1-800-489-4646.
If you are considering deferring all or a portion of your Profit Sharing payout into your PSP account, please consider the following:
- You must make a new deferral election during the window period.
- The payout will be subject to FICA taxes and Union dues.
- For active employees receiving wages, your profit sharing contribution will be the percentage or flat dollar amount you elected, provided your other wages are enough to satisfy the FICA and Union dues obligations.
- For active employees not receiving wages, your profit sharing contribution will be after FICA taxes and Union dues are deducted.
- Any outstanding payroll or benefit overpayments, special court orders for child support arrearages, tax levies or similar obligations will have these obligations paid before any contributions are made to the PSP.
- You must be eligible to accumulate savings in the PSP for your contribution election to be effective.
For more details and deferral examples, please refer to the Profit Sharing communication that will be sent to employees beginning January 21, 2016 based on their preferred method of communication on file at Fidelity.
Through LifeSteps, the UAW-GM wellness program, employees are provided resources, tools, events, and classes that support their effort to maintain a healthy lifestyle. The LifeSteps program is for all active UAW-GM employees.
On a monthly basis, LifeSteps focuses on a specific health topic and provides a monthly wellness message that will be shared at your location. The January message provides information on clean eating, organic foods, and health coaching.
Please visit the improved LifeSteps.com website for more tools to help you and your family stay healthy.
Life Insurance and Disability Programs:
Please be aware of the upcoming changes that impact Life Insurance and Disability benefits as negotiated under the 2015 UAW GM Agreement:
Life Insurance Program:
Rate Decreases – Both the Personal Accident Insurance (PAI) and Optional Life Insurance (OLI) plans will have rate decreases, effective February 1, 2016. The PAI plan rates will decrease by 20% for all participants and the OLI plan rates will decrease by 6% for certain age groups. There will be no rate changes for Dependent Life Insurance (DLI).
Impacted participants will generally experience the rate decreases as follows:
- Active employees pay for coverage one month in advance and will first experience the rate decrease in their payroll checks the week of February 8, 2016, for March coverage. At that time, a credit will be applied to adjust for the higher rate that was deducted in January for February coverage. Beginning with payroll deductions in March, the new lower rate will be appropriately deducted.
- Retirees pay for coverage for the current month and will first experience the rate decrease in their March pension checks. At that time, a credit will be applied to adjust for the higher rate that was deducted in February. Beginning with the April pension checks, the new lower rate will be appropriately deducted.
- Retirees who have Electronic Funds Transfer (EFT) deductions prior to the fifth of the month will first experience the rate decrease in their March EFT. At that time, a credit will be applied to adjust for the higher rate that was deducted in February. Beginning with the April EFT, the new lower rate will be appropriately deducted. Retirees who have EFT deductions after the fifth of the month will appropriately experience the rate decrease beginning in February.
- Participants receiving direct-billing statements will first experience the rate decrease in their February billing statement for March coverage. At that time, a credit will be applied to adjust for the higher rate that was billed in January for February coverage. Beginning with the March billing statements, the new lower rate will be appropriately reflected.
Dependent Child Age – Effective November 23, 2015, the maximum age for a dependent child was increased to the end of the month in which age 26 is attained. Other plan provisions continue to apply including special rules for children who are totally and permanently disabled.
Accelerated Benefits Option (ABO) Maximums – Effective November 23, 2015, the maximum amount of the accelerated benefit option for Basic, Optional, and Dependent Life Insurance has been increased from 50% to 80% of the amount in force. The combined maximum accelerated benefit amounts under Basic and Optional Life Insurance has been increased from $250,000 to $500,000.
In February, a separate communication will be forthcoming that provides detailed information about the upcoming OLI and DLI open enrollment and the premium holidays for OLI and PAI.
Disability Benefit Program:
Beginning March 2016, employees and retirees will have the ability to receive their Workers’ Compensation payment via direct deposit. Impacted employees and retirees will receive a letter advising them of the payment type opportunity and appropriate instructions. Mailings will be staggered throughout the first quarter of 2016.
Legal Services Update
Efforts continue to restart the Legal Services benefit. Since the new benefit will be funded and administered as a Taft-Hartley Trust there are IRS guidelines and filings that must take place prior to accepting any new cases. Members will be notified when the new Legal Services benefit becomes available.
Special Transfer Process Update
Following ratification of the 2015 UAW-GM National Agreement, the International UAW began implementation of the Appendix A Special Transfer Process (commonly known as “Go Home”).
The “Go Home” process is designed to create opportunities for our members who were displaced from their home locations, through no fault of their own, due to the catastrophic events surrounding the General Motors bankruptcy.
Eligible members received a mailing, which surveyed their interest in participation in the program, and the response is as follows;
Members Surveyed 1179
Members Interested 423
Job Offers Extended thru 1/8/16 240
It’s important to note, job offers can only be extended to a facility when that location has an open requisition for manpower.
During implementation of this agreement, the International UAW has discovered a number of members which GM failed to mail surveys, which prevented them from being able to express interest in this program. The UAW Staff will continue to meet with the Company to correct this issue and ensure all eligible members are allowed to participate in this important program.
Personal Savings Plan
The Annual Personal Savings Plan New Year flyer will be coming soon. The flyer will include changes to the PSP that were negotiated during the 2015 National Bargaining as well as the 529 College Savings Plan information.