Transcript
Page 1: GE Employee Layoff Benefits Package

Page 1 of 2 GE Appliances – September 9, 2013

GE Appliances

HOURLY PRODUCTION EMPLOYEE LAYOFF BENEFITS PACKAGE

GE HEALTH AND DISABILITY BENEFITS GE Health Benefits

• Coverage continues* for up to 12 months at no cost • After 12 months, the employee may purchase additional coverage at regular COBRA rates for the

remainder of your COBRA eligibility • Coverage may continue to age 65 for certain long-service employees; different plans are available

at age 65 • Conversion is available

Dental Care Options • Coverage continues* for up to 12 months at no cost • After 12 months, the employee may purchase additional coverage at regular COBRA rates for the

remainder of your COBRA eligibility Vision Care Option

• Coverage continues if employee’s GE Health Benefits coverage continues Health Care Savings Accounts

• See Your Benefits Handbook — Health Care Benefits Short-Term Disability

• Coverage continues* for 31 days after your pay ends Long Term Disability Income Plan

• Coverage continues* for up to 31 days. No contributions are required. In a temporary layoff, coverage continues.

• No contributions are required.

GE PENSION PLAN (IF ELIGIBLE) AND GE SAVINGS AND SECURITY PROGRAM (S&SP) BENEFITS Pension Plan (If Eligible)

• If employee is age 60 or older, normal plan benefits apply • If employee qualifies, he/she can retire under the Special Early Retirement Option (SERO) with an

unreduced pension Savings and Security Program (S&SP)

• Loans are still available* • Withdrawals, switching and dividend payout option are still available, even if employee’s

continuous service or service credits are not maintained • Make-up contributions with Company matching payments may be available upon employee’s

return to work • If continuous service terminates, employee’s account balance is available, now or later; payments

must begin after age 70½

GE LIFE AND OTHER INSURANCE BENEFITS Life Insurance

• Coverage continues* for up to 12 months • Conversion is available • Coverage may continue if employee becomes totally disabled • Continued eligibility is available for certain long-service employees

Page 2: GE Employee Layoff Benefits Package

Page 2 of 2 GE Appliances – September 9, 2013

GE Appliances

A Plus Life Insurance

• Coverage continues* for up to 12 months with regular contributions • Coverage may continue if the employee become totally disabled • If the employee has A Plus Life — Term:

o Conversion is available when coverage ends • If the employee has A Plus Life — GUL:

o When coverage ends, policy is portable o Continued eligibility is available for certain long-service employees who retire (60% of

active coverage level) Dependent Life Insurance

o Coverage continues* for up to 12 months with regular contributions o Conversion is available o Continued eligibility is available for certain long-service employees

Personal Accident Insurance

• Coverage continues* without contributions for up to 12 months Long-Term Care Insurance

• Coverage continues with regular contributions Personal Excess Liability Insurance

• Coverage continues until the end of the policy term • Continued eligibility is available for certain long-service employees

Accidental Death or Dismemberment Insurance

• Coverage continues* for up to 12 months

OTHER GE BENEFITS Vacation

• With approval, available vacation days may be used before layoff starts Dependent Day Care Flexible Spending Account

• Participation ends when your pay ends • The employee can continue to submit expenses incurred during the calendar year against any

remaining account balance Work/Life Connections

• The employee remains eligible to participate* for up to 12 months following layoff Adoption Assistance Program

• The employee remains eligible to participate* for up to 12 months following layoff Individual Development Program

• Eligibility continues, as long as recall rights are retained Educational Loans

• Eligibility ends • The employee will be issued a coupon book to repay any outstanding loan

Emergency and Family Aid

• The employee remains eligible for grants, up to certain time limits Employee Product Purchase Plan

• The employee remains eligible* • Continued eligibility is available for certain long-service employees

Stock Redemption

• The employee remains eligible U.S. Savings Bond Purchase

• Participation ends

* While the employee’s continuous service or service credits are maintained.


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