The Chrysler Pension plans will remain on-going plans but with a new plan sponsor the PBGC announced today.
Document Excerpt
The Pension Benefit Guaranty Corporation today issued the following statement:
In a sale that became final on June 10, the bulk of the assets of Chrysler LLC were acquired by a new corporate entity whose equity is owned by a group that includes Fiat Corp., the United Auto Workers, and the U.S. and Canadian governments.
Chrysler’s defined benefit pension plans remain ongoing under the sponsorship of the new corporate entity. The benefits of the more than 250,000 Chrysler workers and retirees covered by the plans continue to be insured by the PBGC, up to limits set by law.
Link http://www.pbgc.gov/media/news-archive/news-releases/2009/pr09-35.html
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