Take The Money And Run: GM Ponders Pension Buyouts To Reduce Debt

General Motors Co. might seek to buy out the pensions of some retirees in an effort to pare its unfunded liabilities, an industry analyst said Wednesday.

Barclays auto analyst Brian Johnson, in a research note to investors, said GM had "opened the door to reducing pension liabilities through a lump-sum buyout program."

It's unclear whether that might involve hourly workers, salaried employees or both — but it would be voluntary.
 

LexSucks - 1/12/2012 12:51:55 PM

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Pensions? Do those things still exist? The corporations would rather put that money in thier pockets than contribute to someone who has dedicated a 1/4 of a century of thier lives to them. It's to the point now where corporations have the public tricked into believing that they cannot afford pension plans anymore. Yeah right.

Joe_Limon - 1/12/2012 1:23:53 PM

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Do you realize what a buyout is? The company isn't forcing anybody to do anything.

MorePower - 1/14/2012 9:44:39 PM

+1 Boost

Actually, major corporations do believe in pension. Studies have shown that these pension funds are mostly comprised of the large executive pensions and parachute clauses.

Joe_Limon - 1/12/2012 2:46:07 PM

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You complete our trifecta :D