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Are you a retiree from the auto industry? The Pension Benefit Guaranty Corporation, the federal agency that guarantees pensions, has provided helpful information for retirees of Ford, General Motors, Chrysler, and other car companies.
The PBGC guarantees pension benefits up to a certain limit for retirees of companies that have gone bankrupt and are unable to fulfill their pension obligations. Unfortunately for some retirees, the PBGC maximum guarantees may be less than what their pension is worth. For more information on how the PBGC protects defined benefit pensions, read our fact sheet.
