Does anyone with real info know what would happen to the pensions of existing pensioners or existing employees if GE is split up? Would the newly separated businesses inherit the pension obligations? What about Corporate pensioners? Thanks.
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Literally nobody on here has any real info. Just a bunch of butt hurt lazy union sacks of crap griping that they will inevitably be sheet canned
@RhjLO4l-hst My understanding is freezing the pension would apply to the non-union staff this year and I would suspect be a topic for the next union contract.
I once again want to thank Mr. Six Sigma, Mr. Power Point, and the wonderful persons who had no idea what they were doing but would promise anything to get promoted.
How can they freeze the pension. It’s in the hourly contract that pension freeze is off the table until 2nd contract which should be in 2023 if they continue at 4 year intervals.
Flannery addressed that in his Friday video stating they are taking some proposals to the Board with a final recommendation Feb (I think) and some communication to follow. Rumor is the pension will be frozen (you have what you have with no more growth in benefit)-that's apparently what happened to Appliances when they were sold. I expect or hope they will allow those still in the pension to get the incremental $ for the 401k to make this a little more tolerable. Between the insurance gap, pension gap and general financial mess, Immelt and the board will go down as case studies on how to screw up a company. All of this is self inflicted.
Hence, the parts might be worth more than the sum, but good luck trying to sell them off!
Pension is way short of being fully-funded and no company would want to take this responsibility on except on a diminished scale.