Salaried GM retirees hit with 'grueling' pension changes

A GM retirement group, however, is even more dramatic in its assessment of the changes, saying the automaker is "throwing its retirees under the bus and renouncing its promises to its most loyal former employees." Full Story »

Posted by Dwight Rousu
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Posted by: Posted by Dwight Rousu - Jun 22, 2012 - 3:08 AM PDT
Reviewed by: Jenny Goren (review)
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Edited by: Dwight Rousu - Jun 22, 2012 - 3:13 AM PDT

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Jenny Goren
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by Jenny Goren - Jun. 22, 2012

Nearly 42,000 of General Motor’s salaried retirees and surviving beneficiaries will be able to take advantage of a new pension plan offered by GM on June 1. The changes include an option for selected U.S. retirees to receive a lump-sum payment or a continuing monthly pension payment. More information is available on the topic at http://gmpensionbuyout.info/?page_id=28. The deadline for the decision is July 20, 2012, and since the new plan could have complex implications, it is suggested that a qualified financial planner review any final decisions.

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