Company: GE
Filing Date: 2025-06-11
Form Type: 11-K
Source: 0000040545-25-000101
Chunk: 8

Company: GENERAL ELECTRIC CO
Filing Date: 2025-06-11
Form: 11-K
Chunk 8
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 delivery requests are charged to participants and certain former employees are charged quarterly account recordkeeping fees. This is reflected under 'Administrative expenses' on the Statement of Changes in Net Assets.

Vesting

Participants are fully vested in their employee contributions, employer matching contributions and related investment results. Participants receiving CRCs and related earnings generally become vested in those amounts once the participant completes three years of service. This same three-year vesting requirement applies to employer matching contributions for employees on salaried benefits whose first day of work is on or after January 1, 2018.

Forfeitures

During 2024, forfeitures of approximately $10.2 million were used to reduce employer contributions in accordance with the terms of the Plan.

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GE AEROSPACE RETIREMENT SAVINGS PLAN

Notes to Financial Statements

December 31, 2024 and 2023</div>

Plan Termination and Amendment

Although the Company has not expressed any intent to do so, it has the right under the Plan, to the extent permitted by law, to terminate the Plan in accordance with the provisions of ERISA. If the Plan is terminated, each participant’s interest will be payable in full according to the Plan's provisions. The Company also has the right under the Plan, to the extent permitted by law, to amend or replace the Plan for any reason.

Administrative and Investment Advisory Costs

Administrative costs of the Plan and certain investment advisory costs are generally borne by the Company. For certain registered investment companies, collective funds, and TRD Funds, investment advisors receive a management fee for providing investment advisory services. These management fees are reflected in interest and dividend income for the registered investment companies and in net appreciation (depreciation) in fair value of investments for the collective funds and TRD Funds on the statement of changes in net assets available for plan benefits.

(2) Summary of Significant Accounting Policies

(a) Basis of Accounting

The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the Unites States of America ("US GAAP").

(b) Investments

Plan investments are reported at fair value. See notes 4 and 5 for additional information.

Investment transactions are recorded on a trade date basis. Dividends are recorded on the ex-dividend date. Interest income is earned from settlement date and recognized on the accrual basis. The net appreciation (depreciation) in the fair value of investments held at year end consists