GM Cuts Pension Costs

By shooting every other retiree. OK, I exaggerate, but at the rate things are going, the day may come where such measures receive quasi-serious consideration in America's board rooms. At the very least there'll be the "work 'til you die" 401(k) plan.

GM to Cut White-Collar Retirement Costs

General Motors Corp., accelerating a cost-cutting push, said yesterday that it is slashing retirement plans for 42,000 salaried employees and freezing its pension program.

With the pension moves, GM joins a growing number of companies, troubled and healthy, that are phasing out their traditional pensions in favor of 401(k) and similar retirement plans in which the investment risks are borne by the workers.

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