Firm Bankruptcy and Retiree Benefits: Effects and Protections, In Brief


Joshua H. Saunders (Editor)

Series: Retirement Issues, Plans and Lifestyles
BISAC: BUS050040

Benefits for retired employees are of particular interest to policymakers, who often are concerned with the income security of retirees, a large and fast-growing population. One aspect of this congressional concern is what happens when bankrupt employers are unable to provide promised pension and health benefits to their retired employees. This book explores the protections of benefits awarded retirees and future retirees of bankrupt private-sector employers under current law. Although there are many types of employee benefits, active employees, retirees, and the employers themselves are often especially concerned with postretirement pensions and health insurance benefits, usually the two largest components of these so-called legacy costs. This book also provides an overview of the status of employee wages and benefits, including retiree benefits, when an employer files in bankruptcy, and the amendments made to the U.S. Bankruptcy Code by the Bankruptcy Abuse Prevention and Consumer Protection Act; provides background on Delphi Corporation, relevant pension law, the role of the Pension Benefit Guaranty Corporation (PBGC), a description of major events at Delphi since 1999, and a listing of congressional hearings and legislation introduced related to the Delphi Corporation since the 111th Congress. (Imprint: Novinka)

Table of Contents

Table of Contents


Chapter 1. The Effect of Firm Bankruptcy on Retiree Benefits, with Applications to the Automotive and Coal Industries
Carol Rapaport

Chapter 2. Employment-Related Issues in Bankruptcy
Robin Jeweler

Chapter 3. Delphi Corporation: Pension Plans and Bankruptcy
John J. Topoleski

Chapter 4. Voluntary Employees’ Beneficiary Associations (VEBAs) and Retiree Health Insurance in Unionized Firms
Carol Rapaport


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