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PBGC benefit calculations


Guest swcpec98

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Guest swcpec98

I retired from a company (Ford Motor Company and Spun off --Visteon )(at Age 50) with a defined benefit plan. Most of my pension comes from my original employer and a smaller portion comes from its spun off company. As part of my early retirement plan the spun off company was to provide about $350 per month from the DB plan until age 55. At that point (as part of my early buyout plan) the plan was to increase my pension up to $750 per month and then at age 62 the plan was to pay out $1100 per month from the DB. All is going well as I turned 55 two years ago and the increase to $750 happened without a hitch. Earlier this year my spun off company filed for bankruptcy and my guess is that somewhere in the future they will turn over their DB plan to PBGC. Here is my question. Is there a provision in ther PBGC system to "increse" by benifit up to the $1100 in a few years or willl that promised early out benefit be lost and my "current" pension provision ($750)be the basis for my PBGC benifit

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