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US pensions are a guaranteed benefit, insured by the US government. If GE defaults on the pension, the US government says they will step in as trustee and will
by gvb 8y ago
US pensions are a guaranteed benefit, insured by the US government. If GE defaults on the pension, the US government says they will step in as trustee and will pay him the full $85,000/year.
Ref: https://www.pbgc.gov/ https://www.pbgc.gov/
- sct202 8y agoThis isn't completely correct. The pension is insured but the maximum monthly benefit depends on a lot of factors. Zabroski is 61 and receives $7k per month, the PBGC won't pay that much unless GE's pension goes bankrupt when he is 67. https://www.pbgc.gov/wr/benefits/guaranteed-benefits/maximum-guarantee https://www.pbgc.gov/wr/benefits/guaranteed-benefits/maximum...