After hearing from a number of GM retirees concerning correspondence they received from GM informing them their pensions were overpaid, and were being reduced to satisfy the overpayment, GMRA raised the issue with GM’s Pension Director.
Since the overpayments were paid out of the pension fund, it is our understanding that the amount of the overpayment must be repaid to the pension fund. Until it is repaid, it is possible that most of the monthly pensions could be withheld until full repayment is made. However, GM has informed us it is working with affected retirees to arrange repayment at a level of 25% of the recalculated pension, or 10% in hardship-documented cases. All repayments already in progress at more than 25% will be adjusted down to the 25% repayment level effective with the July 1 pension payment.
Retirees who are affected by a pension miscalculation should be contacted by GM with the new repayment arrangement. Affected retirees can also contact the GM Benefits & Services Center at 1-800-489-4646 to discuss the revised repayment arrangement. If the representative is not familiar with the pension miscalculation remedy as stated here, ask to speak with a supervisor. If the situation cannot be resolved with the representative, GMRA members should contact the GM Retirees Association and we will bring your situation to the attention of GM. |
