GM Pension Calculator: How to Use It
The calculator starts from the monthly amount on your GM statement. It computes the IRS 417(e) minimum lump sum, checks any offer against it, and runs the PBGC or insurer check that fits who pays you.
What each input means
Who pays your pension
If your plan moved some retirees to an insurer, pick who sends your checks. Your payment statement shows the payer. This controls whether the calculator runs the PBGC check or explains state guaranty association coverage.
Single-life monthly pension
The monthly amount from your GM statement or benefit estimate for a single-life annuity starting at your chosen start age, before any survivor reduction. The 417(e) minimum is computed on this amount.
Form you plan to elect
Single-life or joint and 50% survivor. If you pick joint and 50%, enter the monthly amount your statement shows for that form. Survivor reductions depend on both ages and the plan's factors, so the calculator doesn't estimate them. PBGC's cap is lower for the joint and 50% form, and the check uses the right column.
Lump sum offer
The amount in your election packet, if you have one. Without it, the calculator uses the 417(e) minimum as a stand-in for the lump sum.
Current age and pension start age
The minimum is valued at your current age for payments starting at the start age. If you're 58 and payments start at 65, the value today is lower than the value at 65 because of the seven-year wait and the chance of not reaching 65.
IRS segment rates
Defaults are the November 2025 rates (4.07%, 5.15%, 6.01%). Plans choose their own lookback month, so use the rates in your election packet if it lists them.
Return and planning age
Used only for your side of the comparison: the value of the pension at your expected return through your planning age, and how long an invested lump sum lasts if you withdraw the pension amount each month. They don't affect the 417(e) minimum, which uses the IRS mortality table.
Understanding the outputs
IRS 417(e) minimum lump sum today: the least the plan could pay at these rates if it offers a lump sum now, plus the same value at your start age.
Offer check: how far your offer sits above or below that minimum. Above means the plan appears to pay at least the legal minimum. Below usually means the plan used a different month of rates, start age or benefit amount, so ask.
Rate sensitivity: the minimum with all three segment rates 1 point higher and 1 point lower.
Invested lump sum rows: the balance at 80, 85 and 90 and the age it runs out, at a steady return with the pension amount withdrawn monthly from your start age.
PBGC check: your monthly amount against PBGC's 2026 maximum for your start age and form. For 2026 that's $7,789.77 a month at 65 for a single-life annuity and $7,010.79 for joint and 50%.
Frequently asked questions
Who pays my GM pension, GM or Prudential?
Most salaried retirees who started benefits before December 1, 2011 and didn't take the 2012 lump sum are paid by Prudential. Active salaried employees and later retirees stayed in a GM plan. Your payment statement shows who pays you.
Did GM freeze the salaried pension?
Yes. Salaried accruals stopped September 30, 2012, and active salaried employees moved to defined contribution contributions. Salaried employees hired in 2001 or later were never in the pension.
Can I take a GM pension lump sum?
GM's 2012 announcement said salaried employees remaining in the plan could choose a lump sum or a monthly pension at retirement. Check your election packet for your options.
Is a GM pension paid by Prudential covered by PBGC?
No. Once Prudential took over those annuities, PBGC no longer guarantees them. State insurance guaranty associations back them instead, usually up to $250,000 in present value.