General Electric freezing pension plan for 20,000 of its U.S. employees

[JustAGuy1]

"

• General Electric is freezing the pensions of 20,000 U.S. salaried workers to reduce billions in future pension obligations and trim debt.

• About 700 employees in its supplemental pension program, geared toward executives, will also have their pension benefits frozen.

• The company said the change won't impact already retired GE workers.

• General Electric announced it will freeze the pensions of 20,000 U.S. salaried workers, a measure designed to reduce its pension deficit and trim debt. The move will shave GE's pension deficit by as much as $8 billion and its net debt by as much as $6 billion.
  As part of the pension freeze, the industrial conglomerate said it will freeze supplementary pension benefits for approximately 700 employees who became executives before 2011. Supplemental pension plans are typically designed for higher-ranking employees and offer benefits beyond the typical pension plan.
  
  "Returning GE to a position of strength has required us to make several difficult decisions, and today's decision to freeze the pension is no exception," said Kevin Cox, chief human resources officer at GE.

• General Electric freezing pension plan for 20,000 of its U.S. employees

• Interesting.

 

[TomParks]

Local, State, and Federal pensions need a healthy "hair cut" too plus a freeze on any raises.

 

[ABikerSailor]

Wait a minute..................I thought that with all the tax cuts that corporations were getting, they were going to use it for paying their workers better and hiring more people. What happened? Did the executives decide to keep all the money for themselves, while screwing the workers?

 

[flewism]

My pension was frozen in 2011, big deal. Plans change, had to allocate more money to retirement, revise lift style back they. Luckily income has been growing well lately.

 

[Toddsterpatriot]

Wait a minute..................I thought that with all the tax cuts that corporations were getting, they were going to use it for paying their workers better and hiring more people. What happened? Did the executives decide to keep all the money for themselves, while screwing the workers?

If your corporation is losing money and has an underfunded pension, tax cuts don't help all that much.

 

[ABikerSailor]

Wait a minute..................I thought that with all the tax cuts that corporations were getting, they were going to use it for paying their workers better and hiring more people. What happened? Did the executives decide to keep all the money for themselves, while screwing the workers?

If your corporation is losing money and has an underfunded pension, tax cuts don't help all that much.

That is one of the many reasons that I am glad that I stuck it out for over 20 years in the Navy. No CEO's to rob my pension fund.

 

[Penelope]

"

• General Electric is freezing the pensions of 20,000 U.S. salaried workers to reduce billions in future pension obligations and trim debt.

• About 700 employees in its supplemental pension program, geared toward executives, will also have their pension benefits frozen.

• The company said the change won't impact already retired GE workers.

• General Electric announced it will freeze the pensions of 20,000 U.S. salaried workers, a measure designed to reduce its pension deficit and trim debt. The move will shave GE's pension deficit by as much as $8 billion and its net debt by as much as $6 billion.
  As part of the pension freeze, the industrial conglomerate said it will freeze supplementary pension benefits for approximately 700 employees who became executives before 2011. Supplemental pension plans are typically designed for higher-ranking employees and offer benefits beyond the typical pension plan.
  
  "Returning GE to a position of strength has required us to make several difficult decisions, and today's decision to freeze the pension is no exception," said Kevin Cox, chief human resources officer at GE.

• General Electric freezing pension plan for 20,000 of its U.S. employees

• Interesting.

GE was one of the ones that do not pay any taxes. This is the way of the future with the republicans in charge.

 

[RoshawnMarkwees]

Wait a minute..................I thought that with all the tax cuts that corporations were getting, they were going to use it for paying their workers better and hiring more people. What happened? Did the executives decide to keep all the money for themselves, while screwing the workers?

If your corporation is losing money and has an underfunded pension, tax cuts don't help all that much.

That is one of the many reasons that I am glad that I stuck it out for over 20 years in the Navy. No CEO's to rob my pension fund.

That’s because the gov robs everyone else to pay you.

 

[ABikerSailor]

Wait a minute..................I thought that with all the tax cuts that corporations were getting, they were going to use it for paying their workers better and hiring more people. What happened? Did the executives decide to keep all the money for themselves, while screwing the workers?

If your corporation is losing money and has an underfunded pension, tax cuts don't help all that much.

That is one of the many reasons that I am glad that I stuck it out for over 20 years in the Navy. No CEO's to rob my pension fund.

That’s because the gov robs everyone else to pay you.

Well, you could have had a sweet deal for retirement with a steady check and medical benefits for the rest of your life as well, if you would have joined the military and served over 20 years like I did. Matter of fact, when I hit the 12 year point, I thought that it would be stupid to get out then, because 8 years wasn't that long of a period of time. Especially when most of it was on sea duty, time passes pretty fast on deployments.

 

[initforme]

CEO pay should be drastically cut as well....as well as the rest of the lazy execs.

 

[B. Kidd]

Wait a minute..................I thought that with all the tax cuts that corporations were getting, they were going to use it for paying their workers better and hiring more people. What happened? Did the executives decide to keep all the money for themselves, while screwing the workers?

If your corporation is losing money and has an underfunded pension, tax cuts don't help all that much.

That is one of the many reasons that I am glad that I stuck it out for over 20 years in the Navy. No CEO's to rob my pension fund.

And besides, I hear that some of that refrigerated dog food is good.
Isn't it?

 

[BasicHumanUnit]

GE was one of the ones that do not pay any taxes. This is the way of the future with the republicans in charge.

GE is about as liberal Left wing a corporation as they come numbnuts

so much for your theory.

 

[ABikerSailor]

Wait a minute..................I thought that with all the tax cuts that corporations were getting, they were going to use it for paying their workers better and hiring more people. What happened? Did the executives decide to keep all the money for themselves, while screwing the workers?

If your corporation is losing money and has an underfunded pension, tax cuts don't help all that much.

That is one of the many reasons that I am glad that I stuck it out for over 20 years in the Navy. No CEO's to rob my pension fund.

And besides, I hear that some of that refrigerated dog food is good.
Isn't it?

Never tried any. Matter of fact, I have enough in my retirement that I can take my roomie out to dinner once a week. And, while I might eat hotdogs and hamburgers quite a bit, it's because I like them. When I feel like it, sometimes I spring for a steak or a porkchop.

Although, my Aunt Sandy did have a meat salad type of sandwich filling that she made that we all called "dog food" because it kinda looked like what came out of a can for pooches. I remember that I got in trouble for it one time in 4th grade. I opened my lunch bag and got all excited when I saw she had packed dog food sandwiches (they are really good, imagine tuna salad except it was made with beef). My friend asked why I was so happy, and I offered them half of my sandwich in exchange for half of theirs. We swapped, they ate the sandwich, and they thought it was really good. When they asked what it was, I told them a dog food sandwich. Next thing I know, teachers have me in the office and my Aunt Sandy was called in. When it was explained what it was, and what was in it, everyone calmed down. However, I was never to call them dog food sandwiches again while I was at school.

 

[Wyatt earp]

Wait a minute..................I thought that with all the tax cuts that corporations were getting, they were going to use it for paying their workers better and hiring more people. What happened? Did the executives decide to keep all the money for themselves, while screwing the workers?

Boy you sure post out of your ass before even reading a OP never mind clicking and reading the link, huh?


Quit embarrassing yourself.



About 700 employees in its supplemental pension program, geared toward executives, will also have their pension benefits frozen.




.

 

[Wyatt earp]

Wait a minute..................I thought that with all the tax cuts that corporations were getting, they were going to use it for paying their workers better and hiring more people. What happened? Did the executives decide to keep all the money for themselves, while screwing the workers?

If your corporation is losing money and has an underfunded pension, tax cuts don't help all that much.

That is one of the many reasons that I am glad that I stuck it out for over 20 years in the Navy. No CEO's to rob my pension fund.

Yeah you only rob tax payers and couldn't get a real job.

Only a retard wouldn't comprehend the gravy train wouldn't last forever.

.
.

 

[justoffal]

[QUOTE="ABikerSailor, post: ? Did the executives decide to keep all the money for themselves, while screwing the workers?[/QUOTE]

General electric is just now coming out of the woods after 15 years of very serious mismanagement. It just so happens that the highest paid manufacturing workers on Earth.... That's right I'm saying the highest paid in the world work at the GE aviation plant in Lynn Massachusetts.

So regardless of the current economic situations and corporate encouragements General Electric is fortunate and has not dropped off the face of the Earth after Immelt robbed nearly 30 billion in assets out of the company.

The current CEO is doing an excellent job standing this giant back up on its feet.

Jo

 

[ABikerSailor]

Wait a minute..................I thought that with all the tax cuts that corporations were getting, they were going to use it for paying their workers better and hiring more people. What happened? Did the executives decide to keep all the money for themselves, while screwing the workers?

If your corporation is losing money and has an underfunded pension, tax cuts don't help all that much.

That is one of the many reasons that I am glad that I stuck it out for over 20 years in the Navy. No CEO's to rob my pension fund.

Yeah you only rob tax payers and couldn't get a real job.


.

Actually, I could have gotten a "real job" as you call it if I wanted to stay in Montana for the rest of my life. I wanted to travel, and the easiest way to do that and make money at the same time was to join the Navy. And, you might wanna rethink your position on the military. Out of all the people in this country that are between the ages of 18 and 35 (age eligible to join), only about 30 percent of them are qualified to enlist. The rest are ineligible because of physical reason, civil convictions, or can't score enough on the ASVAB to join. And, out of that 30 percent that are eligible to join, only about 1 percent actually enlist.

 

[RoshawnMarkwees]

Wait a minute..................I thought that with all the tax cuts that corporations were getting, they were going to use it for paying their workers better and hiring more people. What happened? Did the executives decide to keep all the money for themselves, while screwing the workers?

If your corporation is losing money and has an underfunded pension, tax cuts don't help all that much.

That is one of the many reasons that I am glad that I stuck it out for over 20 years in the Navy. No CEO's to rob my pension fund.

That’s because the gov robs everyone else to pay you.

Well, you could have had a sweet deal for retirement with a steady check and medical benefits for the rest of your life as well, if you would have joined the military and served over 20 years like I did. Matter of fact, when I hit the 12 year point, I thought that it would be stupid to get out then, because 8 years wasn't that long of a period of time. Especially when most of it was on sea duty, time passes pretty fast on deployments.

I’m not knocking your decision nor your service.
The point is lefties are OK with government making it difficult for free market pensions to remain solvent while creating more of their own on the backs of those they punish.

 

[Dont Taz Me Bro]

GE was one of the ones that do not pay any taxes. This is the way of the future with the republicans in charge.

As much as I wish that were true, it’s not

 

[ABikerSailor]

Wait a minute..................I thought that with all the tax cuts that corporations were getting, they were going to use it for paying their workers better and hiring more people. What happened? Did the executives decide to keep all the money for themselves, while screwing the workers?

If your corporation is losing money and has an underfunded pension, tax cuts don't help all that much.

That is one of the many reasons that I am glad that I stuck it out for over 20 years in the Navy. No CEO's to rob my pension fund.

That’s because the gov robs everyone else to pay you.

Well, you could have had a sweet deal for retirement with a steady check and medical benefits for the rest of your life as well, if you would have joined the military and served over 20 years like I did. Matter of fact, when I hit the 12 year point, I thought that it would be stupid to get out then, because 8 years wasn't that long of a period of time. Especially when most of it was on sea duty, time passes pretty fast on deployments.

I’m not knocking your decision nor your service.
The point is lefties are OK with government making it difficult for free market pensions to remain solvent while creating more of their own on the backs of those they punish.

The government doesn't control what happens to pensions for private companies, the CEO's do. And, with all those fat checks they are getting, as well as their golden parachutes, if you want to blame someone for private pensions going away, blame the company, not the government.