GE cuts US$2.4bil from pension deficit

Pension funding has become a central issue for GE stakeholders concerned about how the beleaguered company will meet its obligations while dealing with severe cash-flow and earnings challenges

 NEW YORK: General Electric Co trimmed its pension deficit by US$2.4bil as the manufacturer tackles the worst shortfall in corporate America.

The US$28.7bil deficit is down about 8% from the prior year, according to a regulatory filing last Friday. The company closed 2017 with US$100.3bil in obligations across its pension plans and US$71.6bil in assets.