Month: October 2019
Not receiving the pension you deserve? There’s help
Many people are entitled to pensions that they are not receiving. It may seem strange, but this is often because they don’t know they are eligible for a pension.
Pension Rights Center Celebration of Retirement Superheroes
See photos from the event All photos provided by Liz Lynch One of our favorite times of the year is when we hold our “Retirement Security Superhero” celebration, honoring individuals who have made significant contributions to promoting retirement security for workers and retirees. This year, we were thrilled that more than 170 attendees joined us […]
Legislation proposes new PBGC funding source from QPAM fees
Legislation aimed at giving the PBGC more money for distressed multiemployer pension funds by imposing fees on asset managers that want to keep managing retirement plan assets following criminal convictions was introduced Monday by Sen. Tammy Baldwin, D-Wis.
As GE freezes pensions, observers say employees should consider finances carefully
John Phelps gives General Electric’s current CEO, Larry Culp, the benefit of the doubt. Phelps, a GE retiree who has tangled with management over changes to the company’s retiree health plans, isn’t surprised Culp has lately focused his cost-cutting efforts on the company’s pension plan
GE’s pension freeze raises a question: Should you take a lump-sum buyout or keep benefits?
General Electric is offering about 100,000 former workers a “limited-time option” to take their pensions in a lump sum. But experts say such buyout deals may not be as good as they seem.
GE’s Not Alone: 25 Companies That Owe $1 Trillion In Pensions
General Electric is getting out of the pension business — and is just the latest company to do so. But such efforts by S&P 500 companies only go so far. They’re still on the hook for hundreds of billions in pension obligations.
Tax breaks for seniors could widen gap between CT’s rich and poor
Connecticut has just begun a seven-year program to ease the tax burden on its elderly, a process that will provide nearly $170 million in annual relief by 2025.
GE froze pension benefits for thousands of employees. Here are 5 large companies that have done the same in the past.
General Electric froze pension benefits for thousands of employees on Monday, and it’s far from the first company to do so.
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.