Looking Ahead: Company Transformation & Your Benefits
As part of the separation planning, we’ve given a lot of thought to how we approach our benefits and programs within the three future companies. We understand how important our Total Rewards programs are to you and want to make this transition as simple as possible for you and your family.
When it comes to your Health & Welfare benefits, the elections you make during this Annual Enrollment period will stay in effect for 2023 unless you have a qualifying event that enables you to change certain elections mid-year.
A Look Ahead
HEALTH & WELFARE
Annual Enrollment: Employees will select 2023 health care benefits as normal.
SAVINGS & RETIREMENT
Pension: GE is allocating its pension obligations across the three businesses closer to the date of separation from GE. Employees will keep their RSP benefit, subject to investment gains and losses.
GE Retirement Savings Plan (RSP): The U.S. GE RSP will be allocated to the three businesses closer to the date of separation from GE. Employees will keep their vested RSP benefit, subject to investment gains and losses.
GE Deferred Bonus and Salary Plans: Eligible U.S. participants will have their deferred compensation obligations allocated to one of the three businesses and will keep their deferred amounts and benefits that are vested under the plans' terms.
COMPENSATION
GE Equity Awards: Outstanding awards will be converted to reflect the spin of GE HealthCare.
More information coming:
- Annual Enrollment:
October 2022
More information coming:
- Pension and GE Deferred Bonus and Salary Plans:
October – November 2022
- GE RSP:
November 2022 (U.S. only)
More information coming:
- GE Equity Awards:
October 2022 - January 2023
HEALTH & WELFARE
Annual Enrollment: Employees in the U.S., Canada, and most other countries will select 2023 health care benefits as normal.
More information coming:
- Annual Enrollment:
September – November 2022*
* Excluding select countries, such as Hungary, India and South Africa.
SAVINGS & RETIREMENT
Pension: GE is allocating its pension obligations across the three businesses closer to the date of separation from GE. Employees will keep their RSP benefit, subject to investment gains and losses.
GE Retirement Savings Plan (RSP): The U.S. GE RSP will be allocated to the three businesses closer to the date of separation from GE. Employees will keep their vested RSP benefit, subject to investment gains and losses.
GE Deferred Bonus and Salary Plans: Eligible U.S. participants will have their deferred compensation obligations allocated to one of the three businesses and will keep their deferred amounts and benefits that are vested under the plans' terms.
More information coming:
- Pension and GE Deferred Bonus and Salary Plans:
October – November 2022
- GE RSP:
November 2022 (U.S. only)
COMPENSATION
GE Equity Awards: Outstanding awards will be converted to reflect the spin of GE HealthCare.
GE Shares: Adjustments to reflect the spinoff of GE HealthCare are being finalized (non-U.S. only).
More information coming:
- GE Equity Awards:
October 2022 - January 2023
- GE Shares:
October 2022 - January 2023 (non-U.S. only)