General Electric is freezing its pensions for 20,000 non-union workers and will offer pension buyouts for another 100,000 former employees. GE said the move will save $8 billion, part of a plan to shed some of the company’s considerable debt.…
The fund is short about $26 billion in what it owes to over 500,000 members.
Critics say the new law is unnecessary. They suspect China's state pension fund is running low on money and the government is passing the buck.