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236 To Lose Jobs In Waukesha GE Layoffs

July 17th, 2018 | Leave a comment.

General Electric said it will be selling its Distributed Power business to Advent International, a private equity firm.

WAUKESHA, WI — General Electric has announced that it will permanently close its GE Distributed Power Facility in Waukesha, resulting in the loss of 236 jobs.

Source – Waukesha Patch


What you need to know!

GE Retirement Savings Plan is a defined contribution plan with a profit-sharing component, 401k feature, and ESOP component. This plan has a BrightScope Rating of 83

For the average 401k participant, the 7 point difference between this plan’s BrightScope Rating (83) and the top rated plan (90) could equate to:  5 years of additional work and/or $19,156 in lost savings.
The plans administrator is Denise Faggella and is handled in Boston, MA.

One of the key concerns is that the plan only has 16 investment options which is common for most 401k type plans.

Most 401k, Profit Sharing or ESOP plans do not have active management so there really is no one guiding the plan investments. What this means is that like most traditional investment companies, in the event of an economic downturn there is no method for automatically moving your portfolio to a lower risk profile.

With the WealthSentry system we participate in, accounts are automatically re-balanced to lower risk portfolios in the event of a severe economic downturn. Learn more in our guide, 6 Critical Steps You Must Take Now.

For an in-depth analysis of your options feel free to make an appointment, read one of our guides or participate in one of our workshops.

Wishing you the best.

Doug Reed, CRPC, AAMS

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