Just got the 2017 Pension Annual Report and thought I would share so that others could comment as well.
Total of $3,178,349,393 (10.8%) was paid out
Total of 226,663 persons were covered
Value of plan assets $28,186,420,639 as of Dec 31st 2017. (4.6% Drop)
Value of plan assets $29,555,945,175 as of Jan 1st 2017
During the plan year, the plan experienced a decrease of net assets of $1,369,524,536 (4.6%).
The plan had additions of $1,808,824,857 (6.1%) including additions of Employer contributions of $463,904,279 (1.6%), Employee contributions of $1,010,308,846 (3.4%), asset transfers of $1,547,274,992 (5.2%) and investment losses of $1,212,663,260 (4.1%).
Some interesting points for the 2017…
-Asset transfers are of 5.2% are greater than employee contributions.
-Investments losses of 4.1% are larger than what should be expected given market conditions unless GE Pension has invested in poor assets like the GE stock.
-Overall the plan has had a drop of 4.6% of assets
Also, GE waits until December of 2018 to provide employees with the pension data for 2017 which means the current condition of the pension plan is even worse.
What are your thoughts?