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  PBGC Announces Takeover of Another Auto Company Pension Plan

It has just been announced that the Pension Benefit Guaranty Corporation (PBGC) will assume responsibility for the pension plans of 70,000 workers and retirees of Delphi Corporation, the nation’s largest supplier of automotive parts. Employees and retirees of many companies are concerned about the future of their pension and other benefits.

Mainstay Capital Management, a fee-only, independent investment advisor, has counseled thousands of automotive industry employees and retirees on their pension, benefits, and retirement planning. We have also provided answers to numerous questions concerning pensions and the PBGC.

The possibility of a PBGC takeover of a pension, and corresponding pension benefit reduction, is one of the potential scenarios that we factor into the retirement income planning process for our clients. If you have not yet completed a comprehensive retirement income plan or have questions about the impact of a PBGC takeover of your pension and retirement income plan, don’t hesitate to call us toll-free, at 1-866-444-6246.