Blogs & Newsletters

A victory for workers and retirees

In December 2009, Visteon Corp. announced that it was going to terminate its pension plans, which cover some 21,000 workers and retirees, as part of the company’s overall bankruptcy and reorganization effort.  Visteon planned to dump its pension obligations onto the Pension Benefit Guaranty Corporation (PBGC), the government agency that insures private “defined benefit” pension plans. Because […]