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2023 Plan Year Hourly Profit-Sharing FAQ’s

Lindsay Alexander
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ELIGIBILITY

Why did I not get a profit-sharing payment?

  • If you did not receive a profit-sharing payment, it can be for a number of reasons:
    • Deferral:
      • Employees that elect to defer a significant portion of their payment wilt most likely receive a net zero paycheck due to FICA and other applicable payroll taxes. Questions regarding the deferral elections should be directed to the GM Benefits & Services Center at 1-800-489-4646.
    • Ineligible Employees:
      • Classified as a temporary employee, Manufacturing Subsystem employee, or employees on International Union Leave who commenced the leave prior to 2022 are not eligible for profit-sharing.
    • Terminated:
      • Employees who terminated employment during the 2022 calendar year are not eligible unless they meet one of the following qualifications on their termination date:
        • Retired
        • Age 65 or more
        • Age 60 or more with 10 or more years of seniority
        • Age 55 or more where the sum of the employee's age plus years of seniority is 85 or more
        • 30 or more years of seniority
        • Age 55 or more with 10 or more years of seniority, where employment ceased as a result of a plant closing
        • Beneficiaries of deceased employees are eligible for profit-sharing based on hours worked by the employee.

BANK CARD

What if I do not have a bank account?

  • Employees that do not receive their usual pay via a bank account direct deposit, check or ADP Wisely Pay card, should contact their wage card financial institution to increase the limit on their card to accommodate the profit-sharing payment.

INQUIRY FORM

Where do I obtain the Hourly Profit-Sharing Inquiry Form?

  • The Local Labor Relations Team is responsible for completing and submitting the form on behalf of the employee.

MILITARY TIME

Questions regarding military time should be directed to the Local Labor Relations Team.

PAYMENT AMOUNT

Why did I not get the full amount of profit sharing?

  • Profit sharing is paid to eligible employees based on their 2022 eligible "Compensated Hours" (refer to Plan Language 2.02 "Compensated Hours") and the maximum amount is provided to those with 1,850 or more eligible Compensated Hours. The maximum amount for 2022 Plan Year is $12,750.00.
  • Employees with less than the 1,850 eligible Compensated Hours will be pro-rated accordingly.
  • Eligible Compensated Hours include those hours paid via GM payroll for base pay, overtime, vacation, holiday, and bereavement.     
  • Additional eligible Compensated Hours may also include hours for eligible Workers Compensation, apprentice training hours, jury duty, Military leaves, Union Leaves and call-in pay. No hours shall be duplicated because of payment under one or more category. An "Hourly Profit-Sharing Inquiry Form" should be completed for questions surrounding hours applicable to Workers Compensation and Military and Leaves.
  • Employees should direct their questions regarding hours worked to their Local Labor Relations Team. The Local Labor Relations Team has access to file where the employee's eligible hours can be verified.

Could you provide me with the amount that I will be receiving for profit sharing?

  • Advanced payment information is not available but will be viewable in ADP myView within 48 hours prior to the profit sharing pay date.

PAYMENT DATES

When will profit sharing payments be made?

  • Eligible Active Hourly employees will receive their payment on February 24, 2023.
  • Employees who had eligible earnings in the Plan Year and are now on an eligible leave or layoff (Sick Leave, Worker's Compensation, Temporary Layoff, Indefinite Layoff, etc.) will receive their payment on February 24, 2023.
  • Eligible Active Salary employees (that transitioned from hourly status) will receive their payment on February 24, 2023.
  • Eligible Retirees (those that worked during the 2022 calendar year) will receive their payment March 24, 2023. Payment will be made via direct deposit for those that still have an active account or via hard copy paycheck for those that do not have direct deposit.
  • Deceased Participants - Payments for deceased married Profit-Sharing Plan participants will be paid to their surviving spouse. If the deceased participant was unmarried, payment will be made to the person or persons designated as the Beneficiary or Beneficiaries of the Employee's Life Insurance proceeds under the Company's Life and Disability Benefits Program for Hourly Employees. If there is no designated beneficiary, payment will be to the Employee's estate (Article V, Section 5.01 of Plan). The majority of the payments will be made on March 24, 2023. Additional payments will be made as information becomes available.

PER DIEM

Are per diem employees eligible for profit-sharing?

  • Yes, employees functioning in a Per Diem role are eligible for profit-sharing. Eligible Compensated Hours earned while in the bargaining unit and while functioning as a Per Diem will be included in the calculation for Profit Sharing. These employees are not eligible for team GM.

UNION LEAVES

Questions regarding union time should be directed to the Union Hall.

TEMPORARY TO REGULAR STATUS HIRE

I was a temporary employee that got hired to regular status within the Plan Year - why didn't I get the full amount as I worked over the required hours?

  • Temporary Employees are ineligible for profit-sharing. Temporary employees that are hired into regular status will receive profit sharing based on eligible Compensated Hours AFTER their hire date into regular employment status (date in Workday). In the payment detail file, the "Temp Hours" column indicates hours worked as a temporary employee that are ineligible.

If an employee was a temporary worker and converted to regular on MMDDYYYY may have a look back of 90 days for benefits if they were on-roll for the time; are the hours in the 90 days PRIOR to conversion counted towards their profit sharing?

  • No. The only time counted is from the actual conversion date to regular status.

TERMINATION/QUITS

An employee will be quitting prior to the payment in February, will they still receive a profit-sharing payment?

  • Yes. The employee will receive profit sharing if their termination date in Workday reflects this year (2023) and not last year (2022).

An employee was terminated in 2020 but Workday was updated, and the termination was removed. Is this employee eligible for profit-sharing?

  • Yes. However, please go to the Labor Relations Team and provide all the pertinent information, such as, employee name, GMIN, etc. Based on when Workday was updated, the employee may not be on the payment file and this will have to be escalated to determine their eligible hours worked during the Plan Year and their profit-sharing payment amount.