General Motors 2011 Annual Report Download - page 131

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GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
OPEB Contributions
The following table summarizes contributions to the U.S. OPEB plans (dollars in millions):
Successor Predecessor
Year Ended
December 31, 2011
Year Ended
December 31, 2010
July 10, 2009
Through
December 31, 2009
January 1, 2009
Through
July 9, 2009
Employer contributions ............................. $426 $651 $1,528 $1,947
Plan participants’ contributions . . . . . . . . . . . . . . . . . . . . . . . 13 53 172 169
Total contributions ................................. $439 $704 $1,700 $2,116
For the year ended December 31, 2011 we also contributed $1.9 billion to the independent HCT consisting of restricted cash of $0.8
billion and notes payable of $1.1 billion.
Defined Contribution Plans
We have a defined contribution plan for eligible U.S. salaried employees. This plan provides discretionary matching contributions
which we instituted in October 2009. U.S. hourly employees hired after October 1, 2007 participate in a defined contribution plan.
Contributions are also made to certain non-U.S. defined contribution plans.
The following table summarizes our consolidated contributions to defined contribution plans (dollars in millions):
Successor Predecessor
Year Ended
December 31, 2011
Year Ended
December 31, 2010
July 10, 2009
Through
December 31, 2009
January 1, 2009
Through
July 9, 2009
Total contributions ................................. $297 $241 $100 $70
Significant Plan Amendments, Benefit Modifications and Related Events
Remeasurements
The change in benefit obligation for the years ended December 31, 2011 and 2010 include interim remeasurements. For the year
ended December 31, 2010 there were no significant remeasurements, curtailments or settlements as a result of changes to the
underlying benefits offered to the plan participants.
In the three months ended September 30, 2011 a plan which provides legal services to U.S. hourly employees and retirees was
remeasured as a result of our current labor agreement provisions which terminate the plan effective December 31, 2013. The
termination has been accounted for as a negative plan amendment resulting in a decrease in the OPEB liability and a pre-tax increase
of $266 million in the prior service credit component of Accumulated other comprehensive income, which will be amortized through
December 31, 2013.
Canadian Health Care Trust
In October 2011 pursuant to a June 2009 agreement between GMCL and the CAW an independent HCT was implemented to
provide retiree healthcare benefits to certain active and retired employees. Concurrent with the implementation of the HCT, GMCL
was legally released from all obligations associated with the cost of providing retiree healthcare benefits to CAW retirees and
General Motors Company 2011 Annual Report 129