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GE Freezes Pension Benefits For 20,000 Employees To Lower Debt Burden

  1. In what looks like a dry run of the looming pension crisis facing corporate America, GE said on Monday that it would freeze pension plan benefits for 20,000 American employees with salaried benefits, WSJ reports. The company also plans to freeze supplementary benefits for roughly 700 employees who became executives before 2011 in an attempt to shave as much as $8 billion off its long-term pension deficit. Source: http://feedproxy.google.com/~r/blacklistednews/hKxa/~3/IdbolHRXgOY/ge-freezes-pension-benefits-for-20000-employees-to-lower-debt.html