Tag: Annuities|ERISA|Lump sum|Plan termination|Traditional (defined benefit) pensions
GM pension changes leave retirees’ money unprotected, group says
The General Motors Retirees Association is protesting GM’s plan to buy out pensions of up to 42,000 U.S. salaried retirees and move other retirees to an annuity program controlled by Prudential Insurance Co. of America.
