Do you understand that the PBGC is NOT funded with taxpayer dollars? It's funding comes from insurance premiums that employers with pension plans are required to pay to the PBGC and from pension plan assets it acquires.
People are worried, however, that given the number of underfunded pension plans the PBGC has had to take over, it might someday require a taxpayer bailout if it can not fully cover its obligations. But such a bailout would require an act of Congress.
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--- In ibmpensionissues@..., ibmchiapetrescue <no_reply@...> wrote:
"Under Hawker's proposed Chapter 11 plan, that means the PBGC will recover less than seven cents on the dollar."
