GE’s Former Pension Participants Can Sue if Spinoffs Fail to Pay

General Electric Co.‘s former pension participants can keep their rights to sue if spun-off entities GE HealthCare and GE Vernova fail to pay their full retirement benefits.

The terms are part of an administrative agreement reached Thursday for participants in the GE Supplementary Pension Plan, according to a statement from the firm representing them. Participants were notified in 2022 that GE was transferring their benefits to the health and energy spinoffs, and were told at the time that the prior company had no responsibility over the pension assets.

Concerns that the spun-off companies wouldn’t be able to pay those ...