Tag: United Auto Workers
How unusual is a 10-percent 401(k) contribution – with no required employee contribution? A reporter asked recently what I thought of the new 401(k) contribution rate in the United Auto Workers (UAW) agreement with Ford, General Motors, and Stellantis. The companies have agreed to increase their 401(k) contributions from 6.4 percent 10 percent of pay…
Some form of risk-sharing plan would be good, but coverage is the real issue. How did this happen? Now that the shift from defined benefit plans to 401(k)s is almost complete (see Figure 1), everybody seems to be talking about defined benefit (DB) plans. They were on the wish list of the United Auto Workers.&nbs…
