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Essay / Research Paper Abstract
This is 11 page paper looks at the costs and issues associated with the implementation of an early retirement and redundancy scheme. Is the case of an international employer; General Motors (GM), the paper looks at the way in which costs may be incurred. They pissed off by looking at the pension schemes which are in place within General Motors; of defined benefit and defined contribution schemes, considers the way in which payments from the schemes are made in order to identify the way in which both schemes could result in increased costs and stroke or liabilities for General Motors. The pay pens are some examples of the costs which have been incurred by General Motors as a result of the early retirement schemes. The bibliography cites 10 sources.
Page Count:
11 pages (~225 words per page)
File: TS14_TEearlyretire.rtf
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Unformatted sample text from the term paper:
to General Motors 9 1. Introduction With increasing economic pressures and the need to cut costs as well as many firms facing decline in demand it is unsurprising that there
are a number of firms seeking to decrease their labor levels, with redundancy and early retirement. These are often seen as coat effective, with firms offering incentives for employees within
certain categories to enter into these schemes on a voluntary basis. The issue for firms is the way that there needs to be a balance between the costs that will
be incurred if these types of schemes are not put into place, and the inherent cost of putting a scheme, such as an early retirement scheme in place. One
company that has an extensive early retirement plan in place, across most of its operations in a number of countries, including the US and Germany, is General Motors. If there
are arguments that the scheme is excessive then it is likely to be too costly for the firm in terms of actual costs and in terms of accounting liabilities.
In order to assess this in terms of General Motors the specific issues faced and costs incurred need to be considered in order to understand the impact that the early
retirement plan is having on company. 2. The Pension Schemes The starting point to considering the financial impact of early retirement is to look at the pension schemes that are
in place within General Motors. There are two types of pension scheme, these are both in place within General Motors; defined benefit schemes and defined contrition schemes. It should be
remembered that each of these types is seen in different countries and will be governed under differing relevant regulations. 2.1 Defined Contribution Scheme
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