Company: GE
Filing Date: 2025-02-03
Form Type: 10-K
Source: 0000040545-25-000015
Chunk: 134

Company: GENERAL ELECTRIC CO
Filing Date: 2025-02-03
Form: 10-K
Item: Item 3
Chunk 134
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, benefit accruals have ceased and/or have been closed to new hires as of various dates.Principal Retiree Benefit PlansProvides health and life insurance benefits to certain eligible participantsCovers U.S. GE Aerospace participants: ~45,800 retirees and dependents and ~10,000 active employeesWe fund retiree benefit plans on a pay-as-you-go basis and the retiree benefit insurance trust at our discretion.Participants share in the cost of the healthcare benefits.(a) Plans for GE Aerospace that reach $50 million are not removed from the presentation unless part of a disposition or plan termination.FUNDING STATUS BY PLAN TYPEBenefit ObligationFair Value of AssetsDeficit/(Surplus)202420232024202320242023Principal Pension Plans:GE Aerospace Pension Plan (subject to regulatory funding)$21,010 $22,437 $19,020 $20,253 $1,990 $2,184 GE Aerospace Supplementary Pension Plan2,814 3,000 — — 2,814 3,000     23,824 25,437 19,020 20,253 4,804 5,184 Other Pension Plans:Subject to regulatory funding2,736 3,225 3,592 3,913 (856)(688)Not subject to regulatory funding404 440 — — 404 440 Principal retiree benefit plans for GE Aerospace1,202 1,289 6 8 1,196 1,281 Total plans subject to regulatory funding23,746 25,662 22,612 24,166 1,134 1,496 Total plans not subject to regulatory funding4,420 4,729 6 8 4,414 4,721 Total plans 28,166 30,391 22,618 24,174 5,548 6,217 Due to the spin-off of Vernova on April 2, 2024, as discussed in Note 1, we have excluded 2023 GE Vernova benefit obligations of $18,258, assets of $16,342, and a deficit of $1,916 from the above funding status by plan type chart. FUNDING. The Employee Retirement Income Security Act (ERISA) determines minimum funding requirements in the U.S. No contributions were required or made for the GE Aerospace Pension Plan during 2024 and based on our current assumptions, we