Lawsuit Targets Lost Benefits By Retired GM Execs
DETROIT (AP) - More than 100 former General Motors executive are suing the company, saying their pension benefits were illegally cut.
The cuts were made in 2009 while GM was trying to rebuild itself in bankruptcy court. The Detroit News says the plaintiffs include former vice president John Middlebrook, who helped launch the Saturn brand.
The lawsuit filed Tuesday in federal court says pensions worth more than $100,000 a year were cut by two-thirds. GM has acknowledged saving billions of dollars by reducing pension benefits and health care for retirees.
The automaker has no immediate comment on the lawsuit. The retirees or surviving spouses live across the U.S. and in Europe.
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