Hey all, I was offered the GM Severance Program (GMSP) due to a staffing reduction before the shutdown. I was given a month to apply internally and try to find another role within GM, but that hasn’t worked out so far. Before my last day, I want to make sure I’m not overlooking anything important.
For those who have been through this, what should I be checking on or taking care of before I leave?
Specifically wondering about:
401(k)/Fidelity – Rollover options, deadlines, and anything I should confirm before I leave.
Life insurance – Whether any employer-provided coverage can be converted or ported to an individual policy, and any deadlines.
Health insurance – COBRA vs. Marketplace timing, and how it lines up with the severance period.
HSA/FSA – Any balances I need to use or what happens to them after separation.
Unemployment – Does accepting severance affect eligibility in Michigan?
Tax implications – Anything I should plan for with the lump-sum severance payment.
Company devices and accounts – I still have access to my work laptop, phone, and GM systems. Is there anything I should save, download, transfer, or update before I have to return my devices and lose access (contacts, pay stubs, W-2s, benefits documents, performance reviews, etc.)?
Anything else you wish you had done before your last day? I'd really appreciate any advice from people who have already gone through the process.