Quote:
Originally Posted by Ken Miele
Dgal,
Give me some time, I can spin numbers with the best of them. Tomorrow I will show some numbers and lets see how you can turn them around. Some racers and none racers are hell bent in seeing NHRA fail, I'm not.
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There was no spin in my post. Just facts.
By the way, when a company files bankruptcy it doesn't mean that the pension evaporates. Pensions are covered by the PBGC (Pension Benefit Guarantee Corporation) since 1974. The current maximum benefit guarantee is $4,500 per month for a 65 year old straight life annuity ($4,050 for a joint life and 50% survivor annuity) if certain conditions are met.
If it is a 401k, then the assets are separate and held in trust. Only the participants that hold company stock in their 401k are sunk to the amount in the company stock which has limitations.