October 20, 2004
SEC asks GM, Ford about pension plans
General Motors Corp. and Ford Motor Co. said Tuesday that the Securities and Exchange Commission has asked them to provide information on their pension and retiree health care plans as part of an inquiry into how companies prepare estimates used to calculate pension costs.
The acknowledgments by the nation's two largest automakers came a day after Delphi Corp., the world's largest automotive supplier, disclosed in a regulatory filing that the SEC had requested documents on its accounting related to pensions and retiree health benefits, which can affect the bottom line.
Posted by Tom Troceen