HMMA has consistently offered unmatched benefits when compared to other companies in Montgomery and the River Region. Since our company’s inception, the Human Resources team has benchmarked the benefits of other companies to ensure our health, life, and retirement plans remain competitive and beneficial to our Team Members.
But we don’t stop there.
We also think about–and help provide for–the future well-being of our Team Members by providing additional retirement funds to supplement their personal investments and HMMA matching contributions to their existing 401(k) plan.
Consider this:
- HMMA Team Members have a 401(k) that includes a 100% match for the first 4% of Team Member contributions, plus the Strategic Retirement Contribution of 2% to 4% of a Team Member’s annual base salary to the 401(k).
- The company’s Strategic Retirement Reserve contributions are 100% vested once a team member has 5 years or more of service.
- Team Members select how they want the contribution allocated between mutual funds in their Fidelity 401(k) account. This graphic is based on a Team Member requesting equal distribution to each fund, but it’s flexible depending on your individual needs.
Meanwhile, the UAW has promised its members pensions. But didn’t make good on the promise.
In the 2019 negotiations with the Detroit Three automakers, the union told their members they would bring back pension plans. The union failed to deliver.
Again, in their most recent negotiations with the Detroit Three, the union told their members they would bring back pension plans. The union failed to deliver.
Members did not receive anything close to a pension.
In fact, no UAW member hired by the Detroit Three after 2007 has a pension. They have a 401(k).