GM, Ford Offer Lump-Sum Buyouts to Retirees on Pensions

Imagine you retired from a company with a pension, and now the terms of that steady monthly income you so happily relied on are being reopened. If that scenario makes you a  bit queasy, that’s how some 150,000 retirees may be feeling these days. General Motors announced Friday that it will offer about 42,000 U.S. retirees and surviving beneficiaries (about 36 percent of all its pensioners) lump-sum payments in return for giving up all rights to their monthly pensions. About …