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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 ...
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.
GE Capital was the financial services division of General Electric. [1] Its various units were sold between 2013 and 2021, including the notable spin-off of the North American consumer finance division as Synchrony Financial.
GE stock has fallen nearly 80 percent from highs in 2000, serving up a reminder of the risk of holding your employer’s stock in a retirement account. COLUMN-Beyond GE: U.S. workers own too much ...
GE sold its remaining stake in the company in February 2006 for $2.8 billion. [11] [12] [13] In June 2006, the company agreed to buy AssetMark Investment Services for $230 million. [14] In 2007, another GE Capital insurance company, First Colony Life Insurance Company, merged with the company's life insurance division and became the surviving ...
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The San Diego City Employees' Retirement System had been underfunded in some form for more than a decade. [2] In 2001, as a result of years of sharp increases in pension benefits combined with decreases in pension funding [3] and a decrease in the value of investments, [4] the fund fell below certain funding targets.
Lance Armstrong is one step closer to losing a fortune. A federal judge shot down Lance Armstrong's request to dismiss a civil suit brought against him by the Justice Department. The government is ...