AIG reportedly consults administration on resuming bonuses
A person familiar with the situation says American International Group is consulting with the federal government about its plans to resume paying millions of dollars in retention incentives and bonuses.
A person familiar with the situation says American International Group is consulting with the federal government about its plans to resume paying millions of dollars in retention incentives and bonuses.
AIG is working with the Obama administration’s compensation czar, Kenneth R. Feinberg, to ensure the government and the insurer are on the same page before it pays out remaining bonuses due to employees tied to 2008 contracts, according to the person, who requested anonymity because of the sensitive nature of the talks.
New York-based AIG faced intense criticism in March when it paid out bonuses to employees months after receiving a bailout from the government.
AIG has received a government loan package worth as much as $182.5 billion to help it remain in business.
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