Community Corner
GE to Give Retirees 'Extra Pension Check'
The global industrial conglomerate has announced that it will be giving about 130,000 of its retirees — nearly 4,000 of whom are in Connecticut — a "13th pension check'' in time for the holidays.
As “” protesters , the global industrial conglomerate, with corporate offices in Fairfield at 3135 Easton Turnpike, has announced that it will be giving about 130,000 of its retirees — nearly 4,000 of whom are in Connecticut — a "13th pension check'' in time for the holidays.
As per a report in the Hartford Business Journal, citing GE officials, employees who retired on or before June 1, 2007, will receive the one-time payment in their December pension checks. It is the ninth voluntary improvement or payment GE has made to retirees since 1980, company officials said.
The amount is the same as what pensioners or their surviving spouses get in their monthly retirement checks, according to the report.
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The payments will total $140 million, according to reports. GE has about 230,000 retirees/survivors on its pension roll.
In April, General Electric Co.'s board had to mount a campaign to defend a more than 100 percent increase in Immelt's compensation, following a report by a corporate governance group that criticized the executive's pay.
