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SECRETARY OF LABOR ISSUES STATEMENT ON GENERAL MOTORS' PENSIONS

 WASHINGTON, Nov. 15 /PRNewswire/ -- Secretary of Labor Robert Reich, chairman of the board of directors of the Pension Benefit Guaranty Corporation (PBGC), issued the following statement:
 As chairman of the PBGC board of directors, I have been concerned about General Motors' pension funding, and the PBGC has been in discussions with the company for some time. I am pleased to see GM coming forward with a proposal of this magnitude. The Department of Labor will review the proposal carefully to assure that the retirement security of GM's workers and retirees is protected. At the same time, it should be noted that approval of a number of government agencies is still required.
 -0- 11/15/93
 /NOTE TO EDITORS: This is a statement responding to General Motors' announcement today of a potential contribution of stock to its pension plan for hourly workers./
 /CONTACT: Judith Bekelman, director of communications & public affairs, of the Pension Benefit Guaranty Corporation, 202-778-8840/


CO: Pension Benefit Guaranty Corporation ST: District of Columbia IN: AUT SU:

MH-PB -- DC033 -- 4680 11/15/93 16:57 EST
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Publication:PR Newswire
Date:Nov 15, 1993
Words:177
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