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Little River, TX | McClatchy retiree wonders what's going on with his retirement plan
A McClatchy retiree wonders what's up with his retirement plan:
Several months ago I received a letter telling me not to worry, my retirement was fully funded. Yesterday I received one that said not to worry, even though it was only funded at 88% but with the backing of the PBGC in the event that the plan is terminated.
Is anyone hearing rumblings about the termination of the plan or is this notification the first sign of impending bankruptcy plans.
What caught my attention is Item 2 on the list of benefits not covered by PBGC. I.e. you have not met all age, service or other requirements. Does anyone know if a vested employee that is not 62 going to see his retirement swirling the bowl with the rest of MCI? Emphases added. | |
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Pension Plan when a company goes under.
