I’m a GM salaried retiree and TOTALLY disagree with this group.
GM is offering attractive lump sum pension buyouts OR transferring the pensions to Prudential (which has a MUCH higher credit rating than GM).
Their criticism is based on the fact that there will no longer be “insurance” from the FedGov via the PBGC.
Well guess what boys? The FedGov is BROKE and the PBGC has a deficit of $26 BILLION.
I read the letter but it didn’t seem too bad to me but you would have a better idea than I since you are a salaried retiree. What is the difference between your plan and a 401 K which is what my husband has?
So this GM Retirees Association is a group you would belong to when you retire if you retained your current plan, is that correct?
Also, is this the same retirees group that union members belong to when they retire?
Just trying to figure out who this group represents.