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Everything I have seen on the PBGC web site, which my financial advisor directed me to, indicates a monthly annuity would be guaranteed up to $5k / month. That is $3K more than my lifetime annuity is predicted to be. So there's that. Yeah, the lump sum may not be available, but people, get educated about this. Don't listen to the Chicken Little clones on this site.
If you trust Frontier be ready for a living nightmare, if you are smart get out and protect your families money... judges are not going to look out for you.. it's all about the business and what's best for them/ not you.. read a Lucent alcatel and windstream...
Pension Is safe to a certain extent. They can change the lump sum option to monthly. Which is a huge disadvantage to us! Oh... and they can change the calculation resulting in a lesser amount!!!!!
It could be moved to the PBGC for oversight at which point it could be distributed as is or at a reduced rate. Currently the PBGC has some underfunded pensions that are now only paying out 60 cents for every dollar owed to monthly pensioners. The PBGC does not distribute lumps sums, so any payout will be as a monthly. If this pension fund is lacking full funding, then prepare yourself for a reduced payout at retirement. The bankruptcy judge can redirect liquidation funds to the pension and the PBGC if he deems it necessary, but it rarely is enough to cover pension fund deficits.
Prepare for the worst and hope for the best...
The company has been borrowing from our pension for years. So lets assume NO. But I think only a certain amount is safe under federal laws.