Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

General Discussion

doc03

(39,012 posts)

2. I have gone through this before I had one pension dropped on the PBGC already and it was a

Reply to iangmac (Reply #1)

Sat May 11, 2013, 12:24 AM

May 2013

Chapter 11 and yes many times a company wants to file bankruptcy. Companies file bankruptcy every day to get out of union contracts and employee obligations. It is only in the Green status because they changed the funding formula otherwise it would have been 74%. The report said the government changed the funding because of the low interest rates and they now base it on a 21 year average so instead of the company depositing $20 M in the plan they now only need to deposit $11 M.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

8 replies

= new reply since forum marked as read

Highlight:

Got my annual report from my Defined Benefit [View all] doc03 May 2013 OP

Not quite iangmac May 2013 #1

I have gone through this before I had one pension dropped on the PBGC already and it was a doc03 May 2013 #2

Fair enough iangmac May 2013 #4

You may think it is silly but the same company under a different owner petitioned the IRS doc03 May 2013 #3

Employer ya? iangmac May 2013 #5

I would contact the trustees of the fund Sherman A1 May 2013 #8

Was getting those reports more than once a year last year, talking about liabilities v. assets. freshwest May 2013 #6

get in there if you have the time and fight like hell and 4 t 4 May 2013 #7