GE Defeats Suit Challenging Pension De-Risking Transaction (1)

General Electric Co. on Wednesday defeated a lawsuit challenging its decision to transfer workers out of its pension plan in favor of annuities from a controversial insurance company.

The GE retirees failed to show how the transaction diminished the present value of their pension benefits or substantially increased the risk that they won’t be paid in full, Judge Glenn T. Suddaby said for the US District Court for the Northern District of New York. Suddaby dismissed their case for lack of standing, saying they hadn’t shown a concrete injury that would allow them to press their claims in court.

The ...