|
|
|
|
Bankruptcy and employees' retirement
The pension funds of the Big Three are in relatively good shape, so it's not likely that the government will be stuck with a large unfunded obligation.
But some workers, who retired from the automakers in their 50s, could see their benefits cuts if the pensions are taken over by a federal agency. The government doesn't promise to pay the same level of benefits for those who retire before 60.
It's not certain they'd see a benefit cut - it will depend upon the value of the pension fund assets and obligations when the government takes over the pension funds. But a benefit cut is possible.
NEXT: Joining forces
Last updated December 26 2008: 8:55 AM ET
RSSMore Galleries
Last quarter, the economy grew by the largest amount since the summer of 2007, but there are signs that things are still getting worse. More
Special Offer
© 2009 Cable News Network. A Time Warner Company. All Rights Reserved.
Terms under which this service is provided to you. Privacy Policy
Live Quotes automatically refresh, but individual equities are delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET.
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer
| Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use. MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc. Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use. Intraday data is at least 20-minutes delayed. All times are ET. Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data. Fundamental data provided by Morningstar, Inc.. SEC Filings data provided by Edgar Online Inc.. Earnings data provided by FactSet CallStreet, LLC. |
