In June, GM said it will offer 42, 000 white-collar retirees in the U.S. a lump-sum payment in lieu of their monthly pension check and will transfer pension responsibility for 76, 000 others to a groupannuity plan managed by Prudential Insurance.
Greer adds that these funds could have another target group given that Fidelity and others won't sell an annuity product to somebody over the age of 85.