Comment

GM CEO: Thanks for the Money, I Think We'll Declare Bankruptcy Now

162
jester63/31/2009 11:25:08 am PDT

re: #97 alegrias

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Great, so we taxpayers get to pay fat ass labor union employees overly generous benefits—out of my severance pay while I find work!

PBGC is actually funded by fees charged to the pension plans. It is very similar to the FDIC.

And 401ks are not protected by PBGC. That’s why those of use without “defined benefit plans” are really in trouble.