DETROIT (AP) -- General Motors will put nearly 30 billion dollars into a fund for retiree health care and guarantee that cars and trucks will be built at 16 U.S. plants as part of its tentative contract agreement with the United Auto Workers.
According to a summary of the agreement released by the union, GM will pay more than five billion dollars to fund retiree health care while the UAW is setting up the health care trust. The formation of the trust was a major part of this year's contract agreement.
The tentative contract passed a hurdle earlier today when UAW officials from across the U.S. approved the pact. The UAW president says members will now vote on the deal, and that should be wrapped up and counted by October 10th.
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