07/31/2009 05:12 am ET Updated May 25, 2011

GM Pension Fund: Is It Under Funded

General Motors is using its huge pension fund in a way it never intended.

It had planned -- and put money aside -- for a steady march of retirees over time. But instead, tens of thousands of blue-collar workers, most in their 40s and 50s, are all becoming eligible for retirement benefits now, as the company rapidly downsizes.

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