GE (GE) Announces Plans to Make a Special One-time Pension Payment to 130K Retirees in December
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GE (NYSE: GE) will make a special one-time payment equal to one month’s basic pension benefit to about 130,000 eligible retirees in December. The payment will be included in pensioners’ December pension checks.
"We are pleased to provide this special payment that recognizes the past achievements of GE retirees and will be welcomed in the current environment," said John Lynch, GE’s senior vice president, Human Resources.
The special payment will go to those who retired directly from GE on or before June 1, 2007. Also eligible are pensioners who left GE before retirement with 25 or more years of pension qualifying service and who started their pension on or before June 1, 2007. Surviving spouses of deceased eligible pensioners will also receive the payment. Retired GE executives are not eligible for this special payment.
Letters explaining each individual’s payment are being sent to qualifying pensioners and surviving spouses this week.
"We are pleased to provide this special payment that recognizes the past achievements of GE retirees and will be welcomed in the current environment," said John Lynch, GE’s senior vice president, Human Resources.
The special payment will go to those who retired directly from GE on or before June 1, 2007. Also eligible are pensioners who left GE before retirement with 25 or more years of pension qualifying service and who started their pension on or before June 1, 2007. Surviving spouses of deceased eligible pensioners will also receive the payment. Retired GE executives are not eligible for this special payment.
Letters explaining each individual’s payment are being sent to qualifying pensioners and surviving spouses this week.
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