“John Flannery dedicated 32 years of service to GE, and the arrangements reached with him, including his eligibility for the GE Supplementary Pension Plan, reflect that service,” the Boston-based company said in an email. “The severance payment for Mr. Flannery represents less than one year’s combined salary and target cash bonus.”
Note: The non-executive GE employee with 32 years of service gets 32 weeks pay and a yearly pension of approximately 50% of their base salary!