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GM's Pension Move Is a Lemon
Pension Rights Center Link to more items from this source
[Opinion]
June 6, 2012

"Retirees who take the lump sum will have to figure out how to make the money last in retirement on their own -- not an easy task. Retirees who end up with an annuity from Prudential will no longer be protected by the Pension Benefit Guaranty Corporation, which insures pensions up to specified limits when underfunded plans terminate. Instead, their private annuities will be backed by State Guaranty Funds, which provide more limited protections when insurance companies fail."

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