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Strategies & Market Trends : Retirement - Now what? -- Ignore unavailable to you. Want to Upgrade?

To: Patrice Gigahurtz who wrote (145)	10/29/2006 2:48:08 PM
From: wherry	Respond to of 288

<they cannot terminate what you put in prior to the termination date.> Well unfortunately it seems that, in effect, they can. If a company is in bankruptcy and has an underfunded Plan, then in most jurisdictions the assets are picked up by a para-public body, which pays out what it can based on the transferred assets (details depend on the ruling legislation). Usually, there is a cap on the highest amount paid, so those with higher "earned" pensions suffer the most. It is not fair and it is not right, but it really does seem that many pensions are anything but safe. Tony.