GM to eliminate approx. $29B of pension liability

theflyonthewall.com

Through annuitizations and lump sum payments, approximately $29B of GM’s U.S. salaried pension liability is expected to be eliminated compared with an original estimate of $26B. In connection with these transactions, GM expects to make total cash contributions to its U.S. salaried pension plan of approximately $2.6B. In addition, GM will record an approximately $2.9B pre-tax charge in the fourth quarter as a special item.

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