Auto parts maker seeks PBGC takeover of pension plans
December 17, 2009 – 10:35 pmThe Pension Benefit Guaranty Corp., which would take over the plans, said the three plans sponsored by Van Buren, Mich.-based Visteon are underfunded by about $544 million. The PBGC would be liable for about $444 million in unfunded guaranteed benefits.
The plans have about 21,000 participants.
Visteon filed its proposal Thursday in U.S. Bankruptcy Court in Wilmington, Del.
Similar Posts:
- Supreme Court rejects appeal in Ford Explorer rollover case
- Judge orders insurer to indemnify JPMorgan Chase
- Dodge Joins EPIC as Benefits Technology Specialist
- Court sides with insurer in coverage exclusion case
- Harvard Pilgrim names new leader
