“To say I’m disappointed with this decision is an understatement,” said Assemblyman Santabarbara. “The hardworking men and women who have dedicated decades of their lives to this company deserve nothing less than the full restoration of the pension benefits they are entitled to. General Electric made not only a commitment, but a promise to retirees, a promise that many have planned their futures around.”

“This unfair change puts a heavy burden on thousands of retirees who are now seniors and face higher health care premiums and prescription costs,” Assemblyman Santabarbara said. “It is wrong and unfair for General Electric to promise one thing and then do another. This is not something that should have to be settled in court, it’s a matter of being a good corporate citizen and doing the right thing."

"GE still has an opportunity to make things right. The thousands of retirees, including my father who retired after working 30 years for the company, have put in years of hard work and shown immense dedication to the company. General Electric should show that same dedication to the retirees now when they need it the most,” Santabarbara added.