Tag: GE

General Electric headquarters in East San Francisco Bay Area

In the face of declining profits, GE recently announced three pension actions to help reduce the company’s debts.    Freeze its pension plan for about 20,000 salaried employees and for about 700 employees in a supplementary plan. Offer lump-sums to about 100,000 former employees who have not started benefits.  Pre-fund $4-5 billion of estimated required…