[Leisler]

I believe the pensions are guaranteed by the Federal gooberment, so basically, GM will be free of them and us, mostly non union workers, many with out any pensions, will be taxed to provide the pensions for mostly Democrat union workers. Just like local, state and Federal workers pensions that are way, way underfunded.

[Wyatt's Torch]

You are correct (Pension Benefit Guarantee Corp). The "good" news for the taxpayers is that the benefits will be significantly reduced from the current pension plan that GM has in place. But that beats continuous multi-billion bailouts that only slow down the rate of death not cure the patient.