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GM to Phase Out Salaried Pensions, Shift Workers to 401(k) Plan
Workforce Link to more items from this source
Feb. 15, 2012
General Motors Co. said [February 15, 2012] it will phase out its pension plan for salaried workers as a way to reduce the risk to its balance sheet. About 70 percent of GM's 26,000 salaried U.S. workers are enrolled in a defined benefit, or traditional, pension plan. Those workers will be shifted to a 401(k) plan starting on Oct. 1[.]

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