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Tag Archive: what major us companies are moving away from pensions

GM Makes Strong Move Away From Pensions

GM Makes Strong Move Away From Pensions

GM announced last Friday that is will make a strong move to decrease its pension liabilities. For retirees, they will offer over 40,000 them a lump-sum payment of cash to end their monthly benefits. The rest of the 118,000 salaried retirees and spouses in the U.S. will be serviced by a group annuity that GM will purchase. Their overall plan is to unload $26 billion in pension liabilities from their books in a move that experts say are likely to become a trend as companies...

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