GE Aerospace (GE)

[Jetmek_03052]

Culp is simply bringing GE into the modern age with his suspension of the pension plan.

There’s almost NO companies offering pensions anymore. With good reason - pensions eventually drive companies into bankruptcy. They just can’t afford them anymore.

From what I’ve read, the changes Culp made do not affect retirees currently getting pension payouts.

And those that have pensions in place and are currently working for GE will stop having their plans funded at the end of 2020. They can take funds they from the plan up to that point once they retire, but won’t get any pension funds for any extra years worked past 2020.

GE should have done this YEARS ago (as most other big companies did).

And I agree that during tough times, execs should take pay cuts. But to attract great talent, large salaries for execs are the norm. Without great people at the top, companies don’t make it.