GM Retiree, Now 88, Finally Able to Retire Again After Being Called Back to Work | Carscoops
Ed Bambas witnessed his General Motors retirement disappear and ended up scanning groceries in his late 80s, becoming a viral example of how quickly financial security in retirement can slip away.
Thirteen hours ago
by Chris Chilton
Former GM employee lost his pension after a post-bankruptcy buyout.
At 82, he took a grocery store job to manage debt and medical expenses.
A viral crowdfunding campaign raised nearly $2 million, making retirement attainable.
The auto industry often speaks of legacy, portraying the workers and customers who have supported a brand for years as family. However, for Ed Bambas, that narrative took a troubling twist when the ex-General Motors employee found himself working a grocery store checkout at 88, after losing the retirement he believed was secure.
Bambas retired from GM in 1999, anticipating a peaceful retirement. However, he faced unexpected challenges years later due to the 2009 bankruptcy aftermath. Like many other employees, he had a difficult choice to make.
In 2012, following its bankruptcy restructuring, Old GM extended lump-sum buyouts to around 42,000 retirees and surviving beneficiaries. This move was intended to reduce the company’s pension liabilities in the U.S. by 24 percent.
At that time, Bambas opted for a $300,000 lump-sum payout instead of ongoing pension payments. This one-time payment ended his regular retirement income, ultimately leaving him financially vulnerable.
Soon, life added further strain. His wife fell seriously ill, medical expenses escalated, and most of his life insurance disappeared. While the choice was his, the repercussions of GM’s restructuring significantly affected the limited options available to him. The PR team at the new GM must be pleased with this narrative.
Returning to Work
At the age of 82, with his wife passed away and his savings gone, Bambas did something he never anticipated. He returned to work—not on the factory floor at GM, but at a Meijer grocery store near Detroit, spending eight hours a day, five days a week scanning products to make ends meet.
For years, that would have been the end of the tale—a silent casualty of corporate restructuring and lost pensions. But this time, the internet took notice. Australian social media influencer Sam Weidenhofer met Bambas during a visit to the U.S. and recorded him sharing his reasons for still working at nearly 90.
Financial Support
A GoFundMe campaign gained significant traction. Over 15,000 individuals contributed, with some donations reaching as high as $10,000, and within days, the total reached $1.7 million, making it one of the largest individual fundraisers on the platform.
Weidenhofer revisited the store and presented Bambas with a large check, finally allowing him the chance for a comfortable retirement.
The funds will easily eliminate Bambas' approximately $225,000 in debt, enabling him to enjoy his later years comfortably. He expresses a desire to travel, reconnect with his brother, and resume golfing, according to Fox8. Nonetheless, he plans to continue working for another month or two as he transitions.
This allows him plenty of time to ponder what vehicle he might purchase with his newfound wealth. If he isn’t too upset with GM, and his health permits, a 1,250 hp (1,267 PS) Corvette ZR1X could be tempting. What would you choose to buy at 88 with nearly $2 million available?
Editor's note: GM reached out to clarify that Bambas voluntarily selected a lump-sum payout in 2012, ending his monthly pension payments. This article has been updated to reflect this. The automaker also issued the following statement:
“Mr. Bambas’ personal story is deeply touching, and we’re thankful for the tremendous support he has received. We appreciate his contributions to GM and our country. While we do not disclose individual details, in 2012, salaried GM retirees receiving monthly pension payments were given various options including the continuation of lifetime payments or a lump-sum payout if that was their preference. Furthermore, starting in 2008, retirees over 65 receive a monthly $300 payment for supplemental Medicare coverage.”
@itssozer Ed is 88. A Veteran. A man who continued working due to over $225K in debt he didn’t want to leave to his family. ❤️ Today, we gave him a check for $1.77 million. He cried. We cried. And his life is forever transformed. 🥹❤️ Thank you to everyone who made this possible. This goes beyond Ed; it’s a testament that humanity remains beautiful… #love #kind #veteran ♬ original sound – Samuel Weidenhofer
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GM Retiree, Now 88, Finally Able to Retire Again After Being Called Back to Work | Carscoops
Ed Bambas observed his GM retirement disappear and found himself scanning groceries in his late 80s, becoming a viral example of how swiftly retirement security can diminish.