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Number of messages in the thread: 3

1. Date: 2008-11-12 21:24:31
Subject: Pension Default Question
From: Art Harris <n...@h...com> Search message by this author

I previously worked for a large US Corporation with a defined pension
plan. A few years ago I requested and received a pension estimate from
them based on my age at retirement.

I expect to start collecting the pension in a few years (although I
could start collecting now at a reduced amount).

The company is currently hitting hard times. If the company goes out
of business, or is bought out what are the chances I will lose my
pension? (I'm thinking of the United Airlines fiasco.)

Would it make a difference if I were already receiving the pension?

What are the US Government guarantees on pension plans?

Thanks,
Art

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2. Date: 2008-11-12 21:42:19
Subject: Re: Pension Default Question
From: Dave Dodson <d...@J...com> Search message by this author

On Nov 12, 3:24 pm, Art Harris <n...@h...com> wrote:
> What are the US Government guarantees on pension plans?

Poke around on the Pension Benefit Guarantee Corporation's website:
www.pbgc.gov. I'll bet you can find all that you want to know there.
Or google something like "government pension guarantee" for other
sites.

Dave

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3. Date: 2008-11-12 21:52:34
Subject: Re: Pension Default Question
From: Avrum Lapin <a...@v...net> Search message by this author

In article
<1...@s...goo
glegroups.com>,
Art Harris <n...@h...com> wrote:

> I previously worked for a large US Corporation with a defined pension
> plan. A few years ago I requested and received a pension estimate from
> them based on my age at retirement.
>
> I expect to start collecting the pension in a few years (although I
> could start collecting now at a reduced amount).
>
> The company is currently hitting hard times. If the company goes out
> of business, or is bought out what are the chances I will lose my
> pension? (I'm thinking of the United Airlines fiasco.)

If under 65 you would receive a reduced pension but in no case more than
$54K a year. The United pilots had pensions in excess of $54K

For gory details see http://www.pbgc.gov/
>
> Would it make a difference if I were already receiving the pension?

Simplistically, if your pension is under $54K a year it would continue
to come, if over, it would be reduced
>
> What are the US Government guarantees on pension plans?

See http://www.pbgc.gov/. Note that while the Pension Benefit Guaranty
Corp could go broke I suspect that the government would bail it out
>
> Thanks,
> Art