Retirement Compensation Overview

Listed below are other General Motors Retirement Services or compensation other than the pension benefit or 401K retirement savings plan. Please note that these services are moral obligations of GM but are not protected by law like the other programs.

  • Medical
  • Prescription Drug
  • Dental
  • Vision
  • Life Insurance
  • Extended Care Coverage

Note: Benefits are financed out of operating expenses (current cash flow).


See the table below for understanding these retirement services as they were changed during the General Motors bankruptcy in 2009.

Program   Before Bankruptcy   After Bankruptcy
All Ages
Basic Life   One times base salary at retirement.   $10,000 effective 8/1/2009.
Extended Care Coverage   Long-term hospital, skilled nursing or custodial care up to $50,000/year   This benefit is terminated as of 1/1/2010 and is not available in the insurance market although some long term care plans are similar
Under 65
Medical (Health Care Plan)   Co-pays and deductibles are significantly more than UAW employees. Out of pocket expenses limited to $5,000 per year, per family   Co-pays and deductibles are significantly more than UAW employees. Out of pocket expenses limited to $5,000 per year, per family
Prescription Drugs   Co-pays and deductibles significantly more than UAW employees   Included with the medical expenses above.
Dental & Vision   Above average coverage   Terminated as of 1/1/2010
Over 65
Medical   Co-pays and deductibles significantly more than UAW employees Out of pocket expenses limited to $5000 per year, per family   This benefit was terminated as of 1/1/2009 replaced with a $300/month/retiree pension increase to offset the cost of buying replacement insurance. No limit to out of pocket expenses unless additional insurance purchased
Prescription Drugs   Co-pays and deductibles significantly more than UAW employees   This benefit was terminated as of 1/1/2009 replaced with a $300/month/retiree pension increase to offset the cost of buying replacement insurance
Dental & Vision   Above average coverage   Terminated as of 1/1/2009


For information about other retiree services such as vehicle discounts see GMRetiree.com or GMBenefits.com.