GE by the Numbers
The pension plan
- The GE pension fund is funded to 126% of its liabilities.
- The GE pension fund is overfunded by $16 billion.
- GE has paid $0 into the fund since 1987.
- Retirees have had a $0 increase in their pension since 2000. Those who retired in 1997 have had no raise at all.
- The average pension check replaces just 32% of a retiring worker’s annual wages.
The company
- GE’s after-tax profits last year were $20.8 billion.
- GE made $65,090 in profits per employee in 2006.
- If ranked separately, 100% of GE segments would appear on the Fortune 500.
- In 2006, GE’s revenues were $163.4 billion, greater than the GDP of 80% of member states in the United Nations.
The CEO
- Jeff Immelt received $17.8 million in compensation in 2006.
- Immelt got a 16% raise, or an additional $2.5 million, in 1996 over his 2005 package.
- The average U.S. worker would have to work 357 years to make what Immelt makes in one year.
- The average Chinese worker would have to work 5,954 years to make what Immelt makes in one year.
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