Feds May Break Rules on GM Retiree Pension Plan

The U.S. Department of Labor's Employee Benefits Security Administration (EBSA) this morning announced a proposed exemption that -- if granted -- would allow the General Motors Company to transfer company securities including common stock, preferred stock and a $2.5 billion promissory note, to the Voluntary Employee Beneficiary Association (VEBA) health plan established for the company's retirees.