GE, Once The Epitome Of Corporate America, Announced It’s Freezing Pensions For 20,000 Employees
General Electric, once one of the mightiest, most well-respected American corporations, announced that it’s freezing pensions, for about 20,000 U.S. employees and offering pension buyouts to 100,000 former employees, according to the Pension Rights Center.
GE to Freeze Pension Plan sand Cut Deficit by Up to USD 8 Billion
General Electric Co (NYSE:GE) On Monday said it will freeze pension plans for about 20,000 U.S. salaried workers, and supplementary pension benefits for 700 employees who became executives before 2011.
GE freezes worker pensions — what to do if your employer changes the terms of your retirement plan
General Electric is pulling the plug on its pension plan, and that’s a surefire way to derail workers’ retirement planning.
General Electric freezing pension plan for 20,000 of its U.S. employees
General Electric announced it will freeze the pensions of 20,000 U.S. salaried workers, a measure designed to reduce its pension deficit and trim debt. The move will shave GE’s pension deficit by as much as $8 billion and its net debt by as much as $6 billion.
ERISA cases get starring roles in new Supreme Court term
After three quiet years with no major ERISA cases, the U.S. Supreme Court starts its 2019 term on Oct. 1 with three significant cases scheduled and more waiting in the wings.
Trump wrong to challenge workplace savings plans
Virtually everyone who looks at the numbers agrees that America faces a retirement crisis. Simply put, most Americans have not saved enough to generate the income they will need to support themselves for the many, many years when they are no longer working full time.
Scorecard: College Retirement Plan Litigation Three Years Later
Washington University in St. Louis and a group of workers who say they got a bad deal from the school’s retirement plan will argue their case today before the Eighth Circuit.
“Overfunded Plans Can Face ERISA Suits, Feds Tell High Court”
The Employee Retirement Income Security Act allows for claims against pension plans that are overfunded, the federal government told the U.S. Supreme Court, weighing in on a battle between U.S. Bank and retirees looking to revive their suit against a plan that’s now in the black.
U.S. Weighs In on Supreme Court Consideration of Pension Case
The U.S. Solicitor General and the Pension Rights Center have filed briefs of Amicus Curiae with the Supreme Court in Thole v. U.S. Bank, a pension-focused case arising under the Employee Retirement Income Security Act (ERISA).
Pension crisis could be looming for at least a million retirees of religious organizations
For Catholic-affiliated organizations alone, about 1 million pensioners are now estimated to be at risk of having reduced or zero pension benefits due to a federal law that exempts religious organizations from providing regulated and guaranteed pensions.
St. Clare’s retirees take action to protect their pensions
By Kyle Garrett As the Pension Rights Center’s Operations and Referrals Manager, I hear from thousands of individuals each year. Over the past decade, many of these calls and e-mails have come from people who worked for religiously affiliated hospitals, schools, and social services agencies. These individuals – former orderlies, executives, nurses, social workers, and […]
Your pension plan benefits may not be as ironclad as you think
If you’re fortunate enough to have a pension, there’s a certain relief you may feel that no matter what, when you retire, you’ll get a set amount of money every month for the rest of your life.
