As of August 2015, General Electric's pension plan provides annual contributions ranging between one and two percent of the employee's compensation for the year. These contributions increase the value of the employee's pension account, which earns tax-free interest and dividends.
Monthly benefit payments do not start until the employee reaches age 65. Employees hired prior to 2005 may start taking payments at age 60. The GE pension plan is only open to hourly employees who began working for the company prior to January 1, 2012, and salaried employees who started prior to January 1, 2011. Employees hired after these dates may participate in GE's defined contribution plan.