Impact of GM Bankruptcy on Retiree's Pension and Insurance Raises Industry Concerns
Ed Bambas, a retired Army veteran and former General Motors employee, lost his pension and most of his life insurance when General Motors declared bankruptcy in 2012. Following these financial losses and the passing of his wife, Bambas has been working to rebuild his retirement security. His story gained significant attention on TikTok via influencer Samuel Weidenhofer, resulting in over $1.1 million raised through a GoFundMe campaign to support his retirement.