GM takes final step to eliminate pension plans, switch entirely to 401Ks

General Motors will freeze the defined benefit pension plans of 19,000 workers on Sept. 30, 2012, shifting them instead into 401(k) plans. Affected workers were all hired before 2001 and are salaried employees. Hourly workers are not affected by this change.

Autoblog, GM takes final step to eliminate pension plans, switch entirely to 401Ks