General Electric 2004 Proxy Statement

GE.com - 2003 Annual Report


	Notice of 2004 Annual Meeting of Shareowners Proxy Statement Election of Directors Corporate Governance Board of Directors and Committees Information Relating to Directors, Nominees and Executive Officers Compensation Committee Report Contingent Long-Term Performance Incentive Awards Stock Options and Stock Appreciation Rights Summary Compensation Table Five-Year Financial Performance Graph Retirement Benefits Audit Committee Report Independent Auditor Ratification of Selection of Independent Auditor Proposal to Add a Revenue Measurement to Executive Officer Performance Goals for Long-Term Performance Awards Shareowner Proposals Additional Information Appendix: Governance Principles Advance Registration


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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.

Estimated total annual retirement benefits under the GE Pension Plan, the GE Supplementary Pension Plan, the GE Excess Benefit Plan and Social Security

Earnings credited for retirement benefits		Years of service at retirement




		20	25	30	35	40




$	3,000,000	$ 1,062,206	$ 1,323,485	$ 1,584,765	$ 1,800,000	$ 1,800,000
	3,500,000	1,237,206	1,542,235	1,847,265	2,100,000	2,100,000
	4,000,000	1,412,206	1,760,985	2,109,765	2,400,000	2,400,000
	4,500,000	1,587,206	1,979,735	2,372,265	2,700,000	2,700,000
	5,000,000	1,762,206	2,198,485	2,634,765	3,000,000	3,000,000
	5,500,000	1,937,206	2,417,235	2,897,265	3,300,000	3,300,000
	6,000,000	2,112,206	2,635,985	3,159,765	3,600,000	3,600,000
	6,500,000	2,287,206	2,854,735	3,422,265	3,900,000	3,900,000
	7,000,000	2,462,206	3,073,485	3,684,765	4,200,000	4,200,000
	7,500,000	2,637,206	3,292,235	3,947,265	4,500,000	4,500,000
	8,000,000	2,812,206	3,510,985	4,209,765	4,800,000	4,800,000

Note: The amounts shown above are applicable to employees retiring in 2004 at age 62.

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 2003, covered compensation for the individuals named in the table on page 30 is the same as the total of their salary and bonus amounts shown in that table. As of February 13, 2004, the GE executive officers listed had the following years of credited service with the company: Mr. Immelt, 21 years; Mr. Dammerman, 36 years; Mr. Wright, 35 years; Mr. Heineman, 16 years; and Mr. Rogers, 38 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.