Here we got something similar: a fund, financed by all employers who offer company pensions, that in case of insolvency will take care of the company pension funds, to keep them off the insolveny assets.
Originally Posted by Steve Smith
But as the Agfa/AgfaPhoto case shows an insolvency still can produce severe difficulties for pensions.
But to avoid confusion:
This appeal by Kodak is aimed at the medical benefits, not the pension.
A statement by a Kodak retiree Association:
"...in the motion going to the court Kodak proposes to eliminate Kodak retiree health and welfare benefits. This includes benefits such as health care, life insurance, dental insurance, and some portion of the SIB. It DOES NOT affect the pension plan known as KRIP (Kodak Retirement Income Plan). KRIP is funded and managed separately from Kodak operations. We have been advised that KRIP is currently sufficiently funded to continue to provide the monthly pension check everyone receives. The very best way for KRIP to continue unaffected is to have Kodak successfully exit bankruptcy in 2013."
Last edited by AgX; 10-11-2012 at 03:23 AM. Click to view previous post history.