112 Ex-GM Execs Sue Over Slashed Retirement Benefits

Law360, New York (May 10, 2011, 8:01 PM EDT) -- More than 100 former General Motors Corp. executives filed suit under the Employee Retirement Income Security Act in Michigan on Monday, saying they are owed pension benefits that were cut during the company's bankruptcy proceedings.

The plaintiffs say that General Motors LLC has improperly administered provisions of the executives' retirement plan that calls for reducing benefits over $100,000 per year by erroneously counting income from a separate retirement plan toward that total.

Several high-ranking names are among the plaintiffs — including Richard C. Nerod, former president...
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