[ChildOfThe60s]

As I recall, GM was reported to have an unfunded pension liability in the neighborhood of 10-15 *billion* dollars as far back as the eighties. This during a time of robust sales. No one seemed to wonder then why none of the profits were being plowed into this snowballing liability.

[Hoplite]

GM's reporting (2005 AR) a $7.5B excess in their pension funds at this time due to favorable investment returns - they've also set aside $3.6B after tax to take care of Delphi pension shortcomings (GM acknowledges it's responsibility for some Delphi employee retirement benefits), but if Delphi is using its pension funds as an ATM, I think GM's going to run through the set aside and GM's own pension surplus.

Gonna have to look at Delphi's next monthly report to see if there's any more charges against their Pension fund to know how concerned to get, I guess.

[decimon]

As I recall, GM was reported to have an unfunded pension liability in the neighborhood of 10-15 *billion* dollars as far back as the eighties. This during a time of robust sales. No one seemed to wonder then why none of the profits were being plowed into this snowballing liability.

As I recall, the IRS disallowed any "overfunding" of pension plans as that was deemed to be the hiding of profits. Maybe someone with more knowledge of these matters will clarify.