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GE has frozen its pension for 20,000 workers and is offering buyouts to others. It marks another step in the death of the pension. GE's pension freeze puts a spotlight on America's retirement ...
The Employee Retirement Income Security Act of 1974 (ERISA) (Pub. L. 93–406, 88 Stat. 829, enacted September 2, 1974, codified in part at 29 U.S.C. ch. 18) is a U.S. federal tax and labor law that establishes minimum standards for pension plans in private industry.
In 2018, the GE Pension Plan reported losses of US$3.3 billion on plan assets. [138] In 2018, General Electric changed the discount rate used to calculate the actuarial liabilities of its pension plans. The rate was increased from 3.64% to 4.34%. [139]
In 1996, Welch and GE had agreed to a "retention package" worth $2.5 million, and which promised continued access after Welch's retirement to benefits he had received as CEO—including an apartment in New York, baseball tickets and the use of a private jet and chauffeured car.
AOL's MyBenefits page simplifies things for valued members like you. Offering a user-friendly experience to access and manage your exclusive benefits. Stay updated on activated features and seize new benefits as they arrive. To view what your AOL Plan has to offer, check out your AOL MyBenefits page at mybenefits.aol.com.
Employee benefits in the United States include relocation assistance; medical, prescription, vision and dental plans; health and dependent care flexible spending accounts; retirement benefit plans (pension, 401(k), 403(b)); group term life insurance and accidental death and dismemberment insurance plans; income protection plans (also known as ...