What Could Really Happen To Pre 92 Frozen Pensions

Robc98

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Aug 20, 2002
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Does the turning over of the frozen pensions from back in 1992 to Guaranty Corp. mean that the retirees who have been collecting checks for all this time will now see a reduction in their pay??....I thought the money was frozen and the amount that you had vested up to that point would pay you your "X" amount of monthly dollars.....How can this change unless the company used up some of that money which I thought they couldnt touch...anyone know??
 
It has been a few months since I researched this, and my understanding could be wrong. As benefits told me....it's guaranteeded, but that don't mean the money is there. If funds not there and U folds, then the PGBC takes over and you may get it all....or you may just get a percentage of what you were supposed to get. (sucks don't it)
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might check out this site. Its a gov site. interesting reading scroll down to RETIREMENT PLANS for faster reading
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http://www.dol.gov/ebsa/Newsroom/fsbankruptcy.html
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Hope my info is not totally incorrect. This much is correct....this company has/will screw you as much as possible.
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Other good reading (will take a little time)
http://www.dol.gov/ebsa/faqs/faq_consumer_pension.html