News Sections
Audio
GM Retirees Worried About Pensions
Updated May 5, 2013 12:06 AM | Filed under: Network Indiana
 Print    Archive    RSS

(UNDATED) - Nearly 44-thousand GM retirees in Indiana want to know what's going to happen to their pensions.

So far, nobody knows.

The pension benefit guaranty corporation says GM's two defined pension plans, one for hourly workers and one for salaried employees, are still in place, sponsored by the company.

And it is the stated intent of GM, the United Auto Workers Union and the government to maintain those plans under the new company formed through the merger with Fiat.

But any plan must have the approval of the bankruptcy court.

If those retirees don't get what they were promised, the corporation will cover their losses to the point the law provides, which could still be much less.

And other benefits, like health care, are not covered.

There's more information on line at www.pbgc.gov.



« Previous Article
Next Article »

 Print    Archive    RSS

Have a question or comment about a news story? Send it to comments@wbiw.com

Advertise with 1340 AM WBIW
Advertise with 1340 AM WBIW


1340 AM WBIW, Bedford's Place To Talk. Serving Lawrence and surrounding counties since 1948!

© 2014 Ad-Venture Media, Inc. All Rights Reserved.   WBIW.com and Listen Live Powered by HPC

Advertise  |  Careers  |  About  |  Feedback