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Old 1st September 2008 | 02:46
  #35 (permalink)  
TowerDog

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From: Palm Coast, Florida, USA
In Norway, in genereal, all pensions are paid in to the insurance company, and what you have on your account, and can not be a part of any settlement among creditors in a bankrypcy etc. It is your money.
That would be like the "B Fund" slice of the pension in the US.
Not even God can take that one away...

What the company can avoid paying out under the chapter 11 protection from creditors would be the "A" fund.
(Just ask the United and Delta guys )

That being said, the US Government will kick in with some kind of sharply reduced "pension guarantee" of about 30 cents on the dollar or some such amount if indeed the "A" fund is lost under chapter 11.
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