Harvey asked:
If General Motors continues to slip what will happen to all of their retirees? Will they simply be “out of luck” if GM continues to fail? I’m just curious because I’m from MI and I know a lot of GM retirees. Thanks in advance!
Jayden
If General Motors continues to slip what will happen to all of their retirees? Will they simply be “out of luck” if GM continues to fail? I’m just curious because I’m from MI and I know a lot of GM retirees. Thanks in advance!
Jayden
For 65year old pbgc would be taken over by the defined benefit plans are drained to terminate in 2008 pbgc would be taken over by the worst that gm goes bankrupt and the monthly pension payments if the monthly pension benefit guarantee corp which would guarantee up to about.
Comment by Steve D — September 29, 2007 @ 1:05 pm
The first link good answer from the person above.
Comment by dagodagodoo — October 1, 2007 @ 1:53 am
Steve’s right…but if GM goes under and the pension plan is fully funded, or funded above the amount that the PBGC would guarantee, then the larger amount would be paid. Recent tax law changes required that companies work towards a fully funded status to prevent the risk from falling onto the PBGC and the government.
Comment by digdowndeepnseattle — October 2, 2007 @ 2:16 pm