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jbauer5307
jbauer5307 asked in Business & FinancePersonal Finance · 1 decade ago

If the American auto makers go bankrupt will the retirees lose their benefits?

I have heard nothing on this however I am sure I will ge the answer now

Thanks

3 Answers

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  • Thinker
    Lv 7
    1 decade ago
    Favorite Answer

    Retirement checks will continue as the PBGC will take over making payments. Health (and other) insurance is not covered. See the web site below for details.

    Source(s): http://www.pbgc.gov/
  • a
    Lv 4
    1 decade ago

    most benefit that comes from the company will be gone. if they file bankruptcy the union contract will not be valid anymore, which for me its a good thing for the company in order to be competitive again.

  • Anonymous
    1 decade ago

    they'll have to get in line with the other creditors.

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