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G.M. has been staggered by its current health benefit obligations to more than 430,000 retirees.
The city became the first in Rhode Island history to seek state bankruptcy protection, citing a deficit and retiree benefit obligations so profound as to seem insurmountable.
At the time, the organization had a debt load of $83 million and liabilities that included an estimated $600 million in pension and health benefit obligations.
But, with respect to the staggering burden of benefit obligations, what got them in trouble isn't what they did wrong; it is what they did right.
Wilma K. Schopp, who oversees Monsanto's compensation and benefits, said that the program was created to retain the best older workers, not to reduce benefit obligations.
If OTB were to shut down, about $600 million in future pension and benefit obligations would transfer to the city or the state, Mr. Frucher said.
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For 2002 McKesson showed a pension benefit obligation (PBO) of $332 million and overfunding of $15 million.
c) With respect to termination of service benefits, only FAO staff's benefit obligation is reported in the financial statements (note 20).
The group, the National Federation of Independent Business, which says it has 350,000 members and lobbyists in 50 states, warned politicians and policy makers on Wednesday not to impose new health-benefit obligations on small employers.
G.M. now contributes about $700 million in pretax income to its pension and benefits obligations that the transactions announced today would finance all at once.
Despite its efforts to cut spending, New Jersey is a riskier investment, one of the leading ratings agencies said on Wednesday as it lowered the state's credit rating, citing heavy debt and benefits obligations.
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