UAW Local 5285 Mount Holly, North Carolina

 

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Current Buy Out window closes March 18, 2008 and for those who have signed up, choice is irrevocable after window closes. Employees who take Buy Out will be exiting in April, May, and June with the company having right to decide exit date. Those who are going to grow into a package must meet eligibility requirements by November 30, 2008 and leave at end of month they become eligible.

Choices are the same as previous Buy Outs with The exception of the SRI package which has the following changes.

SRI program is now called Enhanced Retirement Plan Incentive (ERPI) with the following changes

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Incentive is increased to $50,000 for Production and $70,000 for Skilled.

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Eligibility requirements are now:

  • 30 or more years of credited service

  • Minimum age 55 with at least 10 years of credited service

  • Minimum age 65 with at least 1 year of credited service

 

 

 

 

 

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