Did GM cut pensions?
DETROIT (Reuters) – General Motors Co GM. N will cut nearly a quarter of its U.S. pension obligation by transferring the management of its pension plans for 118,000 white-collar retirees to a third party and offering lump-sum buyouts. The automaker also announced a third pension-related move.
Did GM retirees lose benefits?
According to an article in the Star-Telegram, General Motors’ retirees will lose dental and vision coverage and be forced to pay higher healthcare co-payments starting in July due to the GM bankruptcy.
What does the average person retire with?
According to Fidelity, the following is what the average American has saved for retirement: 20 to 29: $15,000. 30 to 39: $50,800. 40 to 49: $120,800.
Are pensions paid for life?
Pension payments are made for the rest of your life, no matter how long you live, and can possibly continue after death with your spouse.
What are the benefits of a lifetime annuity?
Lifetime Annuities are a product often recommended by certified retirement financial advisors. These products offer retirement income protection with options like inflation protection. Get Your Lifetime Annuity Quotes Now What Can an Annuity Calculator Tell You?
What is the policy number for guaranteed lifetime income annuity II?
For most jurisdictions, the policy form number for the Guaranteed Lifetime Income Annuity II is ICC11-P103; it may be 211-P103, and state variations may apply. Loading… Sorry, an error was encountered loading the data.
What’s the interest rate on a New York life annuity?
12.7%. A New York Life Guaranteed Lifetime Income Annuity can give you more confidence to live a more fulfilling retirement by providing you with a guaranteed stream of income in exchange for a one-time premium payment.
Who are the owners of New York Life Annuities?
The New York Life Guaranteed Future Income Annuity II is issued by New York Life Insurance and Annuity Corporation (NYLIAC), a Delaware Corporation, a wholly owned subsidiary of New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010.