10-10-2005, 04:41 PM
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 Re: pensions in bankrupt companies In article <1128953529.402690.117280[at]g44g2000cwa.googlegroups.com> , beliavsky[at]aol.com wrote: - quote - > In a corporate bankruptcy, do employee pensions have a lower legal
The money in a separate pension fund is safe. There may just not be> claim than bondholders? I assume that money already in the pension fund > is safe from creditors. > Many companies with pension plans, such as the airlines and now Delphi > (an auto parts maker), have declared bankuptcy recently. enough to meet current obligations. In case of a bancruptcy where the fund cannot meet obligations a federal agency (PIBG?) takes over the fund and pays the pensions. Certain employees with high pensions (> ~45K/yr) may take a haircut, early retirees may get less than they might have gotten under the company plan. -- Avrum Lapin avrum113[at]earthlink.net Upland CA Remove NOSPAM from address |
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10-10-2005, 02:12 PM
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| pensions in bankrupt companies In a corporate bankruptcy, do employee pensions have a lower legal claim than bondholders? I assume that money already in the pension fund is safe from creditors. Many companies with pension plans, such as the airlines and now Delphi (an auto parts maker), have declared bankuptcy recently. |
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| bankrupt, companies, pensions |
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