General Motors to buy out the pensions of salaried retirees?

Article by Christian Andrei, on May 15, 2012

After Ford Motor Co. made the offer in April to buy out the pensions of salaried retirees, the spotlight is now on whether General Motors is doing the same thing. GM hasn’t commented about the possibility of a pension buyout officially. CFO Dan Ammann said earlier this month that several alternatives are being studied.

However, at the General Motors Retirees Association's Web site come hints of what GM is planning. This group represents mostly GM salaried retirees. Several retirees have divulged that a third-party firm, polling group Gallup, has asked them recently about their willingness to accept a pension buyout.

Gallup asked GM retirees if they could accept a lump sum 'pension buyout' by GM instead of a monthly pension benefit. A GM spokesman declined to make any confirmation. He would only say that the company is surveying its key stakeholders on various topics. [source: Autonews]

Topics: gm

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