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General Motors (GM -0.1%) officially announces that it will offer select retirees a lump-sum...

General Motors (GM -0.1%) officially announces that it will offer select retirees a lump-sum payment or annuitized monthly benefit from Prudential in a plan that could potentially reduce its pension obligations by $26B. (Also: Ford's pension buyouts)
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Comments (3)
  • DeepValueLover
    , contributor
    Comments (9762) | Send Message
     
    Now THIS is a game changer!!
    1 Jun 2012, 02:26 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    This is what every entity with substantial pension liability will have to do - cap and/or restructure payouts. Many cannot be as generous as this one.
    1 Jun 2012, 03:45 PM Reply Like
  • MICHAELIRISH131
    , contributor
    Comments (43) | Send Message
     
    GM wage reduction step one, while workers are underwater on credit and mortgage step two... Offer lump sum payout on pension step three... Step four drop health care for retirees.. Step five pay dividend... Step six increase boards salary...
    1 Jun 2012, 05:48 PM Reply Like
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