Now that Rick Wagoner is out of a job, he's eligible to start receiving retirement benefits from his former employer of 32 years. Though having received over $63 million in salary since becoming a General Motors executive in 1992, Wagoner is eligible for a "Salaried Retirement Plan" and "Executive Retirment Plan" that are together valued at $20.2 million.
Rick Wagoner Quits
Tom Krisher of the Associated Press reports that General Motors CEO Rick Wagoner will step down from his post immediately, based on information given to him from an unnamed source. The news comes on the eve of President Obama's expected announcement of a deadline for General Motors and Chrysler to finalize their restructuring terms or enter government-backed, pre-packaged Chapter 11 bankruptcy. There's no official confirmation from GM at this time. The only announcement the automaker made today