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Retirement plan

GE PENSION PLAN

GENERAL ELECTRIC COMPANYEIN 14-0689340Plan #333PY 2020
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901 MAIN AVENUE, THE TOWERS AT MERRITT RIVER - NORWALK, CT 06851800-432-3450
Other plans on this EIN
1 filing
#334Retirement-$27.95B assets
Prospect flagsHigh retiree %Low participant contribution

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(800) 432-3450
Plan administrator signer
MICHAEL J GORMAN
Signed 12/20/2022
Plan administrator entity
GENERAL ELECTRIC COMPANY
EIN 140689340
PO BOX 5000 · SCHENECTADY, NY 123015000
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Summary metrics

Total assets (EOY)
$58881.8M
-2.4% from 2016
Total participants
289,881
+2.2% from 2016
Average account balance
$0
No prior year
Annual return
16.10%
-5.69 pp from 2016

Benchmarks

See 212 peers
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants>=10,000
Cohort212 peers
Snapshot2020
Participant deferral / active EE
$2,516
median $23
Employer contribution / active EE
$91,038
median $5,975
Participation rate
0.0%
median 0.0%
Avg account balance
$0
Admin fee / account holder
$0
Annual return
16.10%
median 12.84%
Overall peer rank
55th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$19.03B
Average account balance
Total assets / participants with a balance (line 6g)
$160K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
109,981
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
0.0%
Contributions (total)
Employer and participant dollars contributed each year
$7.15M
Contributions per participant
Average employer and participant contribution per enrolled participant
$804
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+1.52%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$0
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 10 of 12 by compensation
ProviderService typeCompensation
NORTHGATEARINSO, INC.5 years
Service code 13 · EIN 65-1205969
Contract Administrator
$1,323,728
WILLIS TOWERS WATSON US LLC.3 years
Service code 11 · EIN 53-0181291
Actuarial
$1,157,172
GENERAL ELECTRIC COMPANY6+ years
Service code 14 · EIN 14-0689340
Plan Administrator
$962,869
KPMG, LLC.1 year
Service code 10 · EIN 13-5565207
Accounting
$190,000
DATAMATICS GLOBAL SERVICES, INC.1 year
Service code 49 · EIN 51-0388254
Other Services
$133,290
BANK OF AMERICA, N.A.1 year
Service code 99 · EIN 94-1687665
Other Fees
$114,555
HEXAWARE TECHNOLOGIES, INC.1 year
Service code 49 · EIN 22-3301374
Other Services
$73,978
MORNEAU SHEPELL LTD.5 years
Service code 13 · EIN 52-1883918
Contract Administrator
$53,211
VELOCITY PRINT SOLUTIONS6+ years
Service code 49 · EIN 04-3724111
Other Services
$45,178
CANON BUSINESS PROCESS SERVICES, IN1 year
Service code 49 · EIN 13-3978583
Other Services
$39,479

Enrolled actuary

1 attachment
SB

LORI BLASDELL

WILLIS TOWERS WATSON US LLC
Enrollment #2007484
800 N. GLEBE ROAD
ARLINGTON, VA 222031808
(703) 258-8000
Signed 2022-12-19

Top hat statement on fileNQDC

Filed February 13, 2021 (most recent of 14 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view
901 Main Ave., The Towers at Merritt River
Norwalk, CT 06851
Email— Sign in and upgrade to viewPhone— Sign in and upgrade to view

Plans declared (3)

  • GE US Executive Severance Plan1,703 emp
  • GE Restoration Plan656 emp
  • GE Nonqualified Transition Credit Plan2,048 emp

Total covered: 4,407 employees

Open the filing PDF

Plan features & details

Pension benefit codes1A3F3H
Plan features
  • 1A
    Benefits are primarily pay related
    Benefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
  • 3F
    Leased employees
    Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
  • 3H
    Controlled group member
    Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped
  • OpportunityLow participant contribution

    Participant contribution per participant is in the bottom quintile of the peer cohort.

  • InformationalHigh retiree %

    Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II
Admin total
$241.9M
$8809 / participant
  • Contract admin$3M1.4%
  • Other / not subdivided$239M98.6%
% of EOY assets
0.411%
all-in expense ratio
Categories reported
1 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm
KPMG LLP
Auditor EIN
135565207
Audit fees
(not subdivided)
Opinion code
Unqualified