In 2012 General Motors (GM) embarked on a mission to offload $26 Billion in pension liabilities through lump-sum buyouts and the purchase of a group annuity contact from Prudential Insurance Co. of America. In November 2012 Prudential and GM closed on the largest pension de-risking transfer worldwide. This pension de-risking transfer involved the exchange of $25.1 Billion in assets and affected the retirement benefits of approximately 110,000 General Motors Retirees. Prudential was slated to take over the pension payments on January 1, 2013.
https://retireesforjustice.org/wp-content/uploads/2021/09/offices.jpg 401 600 ginny https://retireesforjustice.org/wp-content/uploads/2021/02/Retirees-for-Justice-FINAL_Web-copy.png ginny2012-11-30 22:24:322022-10-27 13:11:35General Motors Transfers Pension Liabilities to Prudential