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Friday, June 01, 2012

ALERT: GM offers pension buyout to salaried workers; Move could reduce U.S. pension liability by $26 billion

BREAKING NEWS ALERT June 1, 2012
 
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GM offers pension buyout to salaried workers
 Move could reduce U.S. pension liability by $26 billion
 Mike Colias
General Motors said today that it will offer a lump-sum pension buyout to one-third of its retirees in the United States and shift the remaining retirees to a group annuity run by an outside administrator. GM said the moves should reduce its pension liability in the United States by about $26 billion.
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