GE Freezes Pensions for 20K Workers In Bid To Trim Debt Pile

GE plans to freeze defined benefit accruals of 20K workers and offer lump sum buyouts to 100K former employees, seeking to cut debt. This aligns GE with most larger US companies today as defined benefit pension plans grow rare, says Wharton’s Olivia S. Mitchell here.     Image courtesy ofRead More

GE Will Freeze 20,000 Worker Pensions In Effort To Cut Deficit By $8 Billion

GE is freezing defined benefit plans for 20K workers and offering 100K former workers lump-sum buyouts, as it seeks to cut debt and risk. This is part of a decades-long trend away from defined benefit pension and toward defined contribution plans in the US, states Wharton’s Olivia S. Mitchell inRead More

Wharton’s Prof. Olivia S. Mitchell Among Recipients of $2 Million ICMM Grant

The Institute of Consumer Money Management recently announced a $2 million grant for studying the financial health of low and moderate income Americans near or in retirement. Prof. Mitchell, Dr. Robert Clark of North Carolina State University, and Dr. Annamaria Lusardi of George Washington University will be working together onRead More

Auto-Enrollment Retirement Plans for the People: Choices and Outcomes in OregonSaves

Oregon is leading the way expanding access to workplace retirement plans via its OregonSaves program. How has it affected participation and outcomes among eligible employees? A new paper entitled “Auto-Enrollment Retirement Plans for the People: Choices and Outcomes in OregonSaves,” by John Chalmers, Olivia S. Mitchell, Jonathan Reuter, Geoffrey SanzenbacherRead More