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Thirty Percent of Eligible Employees Take GM Lump-Sum Offer

October 31, 2012
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GM announced on June 1 it would offer 42,000 salaried retirees a lump-sum offer. Another 76,000 salaried retirees, along with those who declined the lump sum, will receive annuity payments from Prudential.
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Bill Seeks Government Sale of GM Stock to Fund Delphi Pension Benefits

September 6, 2012
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The legislation, which will be introduced next week when the Senate reconvenes, is intended to cover all benefits lost to hourly and salaried retirees when the Pension Benefit Guaranty Corp. took over the Delphi's six defined benefit plans in 2009. The plans were terminated as part of Delphi's Chapter 11 bankruptcy reorganization.
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