Clarification please, somebody. Did these 20,000 get anything? Doesnt the PBGC Guarantee 60% or some such percentage of all pensions?
“Doesnt the PBGC Guarantee 60% or some such percentage of all pensions?”
The PBGC guaranteed benefit depends on a variety of factors. These include age, years of service and ownership. There is also a cap on the dollar amount that is indexed for inflation.
My husband’s pension was reduced 30 percent. The amounts vary from 30-70 percent with many factors considered. See my post #4, stating that pensions WERE funded good enough for many years.