General Motors offers two primary 401(k) programs—the Retirement Savings Plan (RSP) for salaried employees and the Personal Savings Plan (PSP) for UAW-represented hourly workers.
If You Have the GM RSP (Salaried)
GM RSP Features
- Pre-tax and Roth contribution options
- Target-date funds and core index funds
- Company matching contributions
Many GM employees choose funds early in their careers and rarely revisit them. But as retirement approaches, your allocation should evolve alongside your timeline and risk tolerance.
If You Have the PSP (Hourly)
GM PSP Features
- Employer contributions, which can include automatic and/or profit-sharing components depending on the current UAW agreement
- A similar investment lineup requiring thoughtful allocation decisions
A Common Mistake
Many GM employees rely solely on target-date funds. While convenient, these funds may not align with your pension timing, Social Security strategy, or overall retirement income plan.
The Bottom Line
Your GM 401(k) is a major component of your retirement strategy. Getting the allocation right now—while still in the plan—helps ensure you're not taking unnecessary risks or missing opportunities.
When retirement approaches and rollover becomes available, your funds will already be positioned for the next phase.
These plans are not static—features, contributions, and investment options can change over time based on employer updates and union agreements, making periodic review essential.
At Big Three Retiree, reviewing your 401(k) allocation while you're still in the plan is a critical part of our Retirement Roadmap process—ensuring your assets are positioned properly for the transition.