RIAs are set to capture chunks of the $26 billion that GM is spinning out of its pension plan
Retirees are looking to RIAs to help them make a once-in-a-lifetime decision -- and experience shows advisors get richly rewarded
Allworth Financial
Mergers and Acquisition Firm, RIA Serving Other RIAs, Advisory Firm
Top Executive: Scott Hanson and Pat McClain
Jenny Goren
It appears that Ford Motor Company has paved the way for GM’s decision to likewise cut pension plan liabilities. On June 1, GM laid out its plan to offer select U.S. salaried GM retirees a lump-sum payment option, while other retirees are able to participate in recurring monthly pension benefits. Please review the information at the following website for more details: http://www.youtube.com/watch?v=32ZRne7AoTQ&feature=youtu.be. Since the deadline is July 20, 2012, it is suggested that any final decisions be prepared with a qualified financial advisor before making any changes to your current pension plan arrangements.
Summer
The General Motors (NYSE:GM) Pension Buyout plan, announced on June 1, stated that GM plans to cut their pension liability by an expected 26 billion dollars. Select salaried U.S. retirees will be offered a lump-sum, with other retirees being offered a monthly pension payment. Making this decision will involve considering initial eligibility and a full understanding of the two options, including the consequences therein. Consulting a qualified financial advisor is suggested. For more information, including a free white paper, on the General Motors Pension Buyout, please visit http://www.gm-pension-buyout.com. The decision deadline will be July 20, 2012.
