How Much Is GE Shortchanging Pensioners Taking Lump Sums? Use Our Calculator
(Spoiler alert - it's a lot.)
Desperate General Electric is cleaning up its balance sheet. One method: let 100,000 ex-employees give up valuable pensions in return for lump sums. Stingy lump sums.
https://www.forbes.com/sites/baldwin/2019/10/20/how-much-is-ge-shortchanging-pensioners-taking-lump-sums-use-our-calculator/
If you are no longer employed at GE , yet are vested in the pension plan, these are the ppl that GE is trying to buy-out. The ones who left after 10 years.......for example.
Section 3.1.7 of the Retirement Income Benefit's book states the "normal retirement date is the first month following your 65th birthday" however, "You can retire DIRECTLY from the company as early as age 60" though.
So the Forbes article basis the calculation off of the age of 60......which is a current employee....
Ahhhh GREAT QUESTION !!
How much has the worker short changed GE?
On the same site, another article that paints a dire picture for the pension fund. And yet JI and JW get away with hundreds of millions.
https://www.forbes.com/sites/johnmauldin/2019/10/21/how-ge-screwed-over-its-retirees/
Repeat post, this article already cited on two other threads
Excellent article that is consistent with my analysis of my lump sum offer