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Employees are generally eligible to retire with unreduced benefits under Company retirement
plans at age 60 or later, and with social security benefits at age 62 or later. The approximate
annual retirement benefits provided under Company retirement plans and social security for GE
employees in higher salary classifications retiring directly from the Company at age 62 or later
are shown in the table below.
Amounts shown as "earnings credited for retirement benefits" in this table
represent the average annual covered compensation paid for the highest 36 consecutive months
out of the last 120 months prior to retirement. For 2001, covered compensation for the individuals
named in the table on page 20 (Annual Compensation) is the same as the total of their salary and bonus amounts shown
in that table. As of February 15, 2002, the GE executive officers listed had the following years
of credited service with the Company: Mr. Welch, 41 years; Mr. Immelt, 19 years; Mr. Dammerman,
34 years; Mr. Wright, 33 years; Mr. Heineman, 14 years; and Mr. Rogers, 36 years. The approximate
annual retirement benefits provided under Company retirement plans are payable in fixed monthly
payments for life, with a guaranteed minimum term of five years.
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