General Motors Co.
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Treasury urged bailout funds to Delphi pensions, watchdog says
trueThe U.S. government urged General Motors Co. to improve pensions of some Delphi Automotive union retirees while cutting those of salaried workers to help ensure a speedy emergence from a GM bankruptcy, the watchdog of the Troubled Asset Relief Program said.
GM's Borst joining Navistar as CFO
trueWalter G. Borst —chairman, CEO, chief investment officer and president of General Motors Asset Management Corp. — was named executive vice president and chief financial officer of Navistar International Corp., effective Aug. 1, according to a statement Thursday from the Lisle, Ill.-based truck ...
GM: No pension contributions coming for next 5 years
trueGeneral Motors Co., Detroit, does not expect to make any mandatory pension contributions for the next five years, according to its fourth-quarter earnings statement.
Six guidelines for pension cashout success
trueThe news about Ford and GM making lump-sum offers last year led to a flurry of speculation that the DB cashout option would gain momentum as a risk-management strategy for many more companies.
GM, UAW in talks over lump-sum offer
trueGeneral Motors Co. is in discussions with the United Auto Workers union on offering lump-sum pension payments, confirmed GM spokesman Dave Roman.
General Motors UK signs £230 million annuity contract with Rothesay Life
trueGeneral Motors UK Ltd. entered into a £230 million ($371 million) pension buy-in annuity contract with Rothesay Life to secure the pension benefits of all participants in the General Motors UK Retirees Pension Plan.
Supreme Court shuns State Street's effort to halt GM stock lawsuit
trueThe U.S. Supreme Court on Monday rebuffed an effort by State Street Bank & Trust to stop a class-action lawsuit claiming that it had breached its fiduciary duty by failing to sell General Motors Corp. stock in the firm's 401(k) plans before the company began Chapter 11 bankruptcy proceedings.
GM pension executive becomes senior consultant at Mercer
trueMilla Krasnopolsky was named senior consultant and lead strategist for dynamic solutions at Mercer.
CalPERS-GM pension fund deal is most expensive mall sale in years
trueCalPERS' pending agreement to buy the half interest of a suburban Chicago shopping mall that it doesn't already own is a relatively rare transaction in a white-hot corner of the real estate market.
GM's retiree acceptance of lump sum seen as solid response
trueThe roughly 30% of eligible salaried retirees who have accepted General Motors Co.'s offer to convert their monthly annuity to a lump sum benefit is a solid response to the trailblazing approach that other companies are expected to follow, observers say.
Lump-sum payouts moving into fast lane
trueGM and Ford were the first to venture down the road of lump-sum payments, but the federal highway bill has turned that road into an expressway with at least 10 other companies following suit.
CalPERS to be sole owner of giant Chicago-area mall
trueCalPERS is set to take full ownership of the Schaumburg, Ill. Woodfield Mall in a deal that values the shopping center, the largest in the Chicago area, at more than $1 billion.
Mixed opinions on GM's plan to transfer $29 billion to Prudential
trueGeneral Motors Co. plans to transfer $29 billion in assets from its pension plan to Prudential Financial Inc.'s insurance unit to fund the automaker's annuitization proposal — the largest such transaction among corporate pension sponsors.
GM blazes new trail
trueGeneral Motors Co.'s annuitization of $26 billion in pension obligations should be a game-changer for corporations in the way they finance and manage defined benefit plan risk.
Identifying the best risk mitigation strategy for a corporate DB plan
trueA “one-size-fits-all” risk mitigation strategy for corporate defined benefit plans does not exist, particularly in the current environment.