Powered by

GE Announces U.S. Pension Plan Actions; Expects to reduce GE's pension deficit by approximately $5-8 billion

Oct 07, 2019 - Business Wire

GE (NYSE:GE) announced today that it is taking three actions related to its U.S. retirement benefits as part of its strategic priority to improve its financial position:

Freezing the U.S. GE Pension Plan for approximately 20,000 employees with salaried benefits, and U.S. Supplementary Pension benefits for approximately 700 employees.

Pre-funding approximately $4-5 billion of estimated minimum ERISA funding requirements for 2021 and 2022.

Offering a...