U.S. Companies Get Green Light on Controversial Pension Payouts
- Treasury blesses one-time lump sum payments to retirees
- Relief for companies with underfunded defined benefit plans
This article is for subscribers only.
Companies are free to tackle their hefty pension obligations through a controversial method involving one-time, lump-sum payouts to retirees and beneficiaries, the Treasury Department says.
That could help companies like General Electric Co., now struggling with a nearly $30 billion shortfall in its defined-benefit pension plan.