By Leftlane Staff
Tuesday, Mar 7th, 2006 @ 1:17 pm

Effective Jan. 1, GM will freeze the accrued pension benefits for U.S. salaried employees, reports the Associated Press. Salaried employees hired on or after that date will move exclusively to a defined contribution plan, and GM will contribute a certain amount to their 401(k). Salaried employees hired before Jan. 1 will remain in a defined benefit plan but will get reduced benefits under a new formula.

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