Thread regarding General Electric Co. layoffs

Are GE pensions secure?

If things go wrong, are GE pensions secure?

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| 2090 views | | 5 replies (last August 15, 2019) | Reply
Post ID: @OP+10yhuoNa

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https://www.pbgc.gov/news/press/releases/pr18-08

The Pension Benefit Guarantee Corporation's last announcement showed that their deficit was $53.9 Billion and is on the path toward insolvency, likely by the end of FY 2025. If they have to assume the GE plan then the date of insolvency will likely be much earlier than FY 2025.

Thus, it is in the US government's interest to keep GE alive as a "Going Concern" even if it is just to provide cash and liquidity for the Pension Plan and Long Term Care Insurance. Thus, you may have a Government restructuring program or supervised restructuring. Additionally, it is in the national security interests to keep GE alive. If the US is going to win wars and have electricity, you kinda need a jet engine and power manufacturing entity.

GE is short by about $30 Billion as is in the Pension plan.

Here is an article from Forbes with more details.

https://www.forbes.com/sites/kenkam/2018/11/16/ge-pensioners-and-stockholders-contemplate-the-unthinkable/#2566281a68e3

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Post ID: @cfk+10yhuoNa

there is something know as the pension guarantee board. look it up

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Post ID: @lne+10yhuoNa

No way

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Post ID: @ece+10yhuoNa

They're as secure as any promise made by the GE Board of Directors.

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Post ID: @vax+10yhuoNa

no

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Post ID: @fho+10yhuoNa

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