The pension plans of General Motors will continue as on-going plans through the bankruptcy process the PBGC has announced.
Document Excerpt
The Pension Benefit Guaranty Corporation today issued the following statement:
Although General Motors Corp. has entered Chapter 11 bankruptcy protection, its two defined benefit pension plans remain ongoing under GM’s sponsorship. Both plans, one for hourly workers and one for salaried employees, continue to be insured by the PBGC, which guarantees benefits up to limits set by law.
Link http://www.pbgc.gov/media/news-archive/news-releases/2009/pr09-33.html
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