Anthony Shelley Quoted in Washington Post Regarding the Effect on Pension Benefits When a Company Goes Bankrupt

“How Will Pension Benefits Be Affected if Your Company Goes Bankrupt?”
The Washington Post
01.18.09Anthony Shelley provided comments to the Post’s weekly column answering reader’s questions about personal finance issues. In this case, a couple whose pensions are with Ford and GM asks what will happen to their pensions if the automakers go bankrupt. Shelley recommends that retirees working for bankrupt companies remain vigilant. If your company is terminating your pension plan, it is required to notify you, according to Shelley. "Be advised of your rights and be in contact with either your attorney or the PBGC [Pension Benefit Guaranty Corporation] in the event that the company does go bankrupt," he says.
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