Thread regarding GE Oil & Gas layoffs

pension and 401K

What will happen to GE Oil and Gas Employees who are grandfathered into the pension plans? Will it still be available? What about the GE Oil and Gas employees who were hired after 2011 and were not grandfathered into the pension plan, and are in the 401K plan? What about the baker Hughes employees who have both the pension plan and the 401K plan? will that go away since we are now BHGE?

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Post ID: @OP+O99foGI

4 replies (most recent on top)

Since your question references your lively-hood after retirement, I wouldn't look here for answers.

I was laid off and rehired. Pension was still there through Lufkin, 100% vested after the acquisition and 401k was moved from Ascensus to Fidelity. Two weeks ago my Ascensus 401k through Lufkin was merged to Fidelity, kept as separate accounts

Not granfathered in - you'll probably get a percentage based on years of service.

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Post ID: @pehp+O99foGI

Cash out and invest in something that will make some money

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Post ID: @3exr+O99foGI

When I was laid off I received paperwork showing I still have my pension, and it gave me a number to call if I wanted to cash it out. I'm sure it'll be similar for BHI employees now that you're BHGE.

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Post ID: @brx+O99foGI

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