4-4-09: PBGC Contacts and Payment Information

The PBGC responded to direct questions regarding what payment would a retiree receive.  Here are their responses: 

After September 16, 2006, the maximum guarantee is fixed as of the date the sponsor entered bankruptcy. In the [Delphi Salaried Retiree] case, the maximum guarantee would be fixed as of the plan's termination date since bankruptcy was before 9-16-06. [The termination has not yet occurred as of the date of this posting.]

When PBGC takes over a plan, we continue paying retirees until we have an opportunity to review their benefit.  The payment would revert to the maximum amount we can pay. A participant can wait as long as they choose to collect their benefit payment.

Click here for PBGC contact information