Tom Ruddy of Lambertville was ready to retire a year ago from General Motors’ Toledo Propulsion Systems plant in Toledo.
But the 38-year plant veteran decided to stay past last autumn’s United Auto Workers contract negotiations with the automakers in the event that GM would incentivize workers to retire with special attrition money.
The bet paid off as the union negotiated a $50,000 lump-sum payment to retire in a new master four-year agreement signed in November.
The problem for Mr. Ruddy and hundreds of other GM workers who have expressed their desire to retire immediately is that they may not be able to do so immediately.
UAW Vice President Mike Booth in charge of the GM department told union locals in a letter this week that GM won’t allow all workers to go at once. And the union is still negotiating with the UAW on the timing of retirements that could be spread over three windows during the life of the contract.
GM autoworkers nationwide were surveyed in January about their interest in taking the retirement buyout.