R.I.P. Twinkie

Lamplighter · 11-19-2012, 03:09 PM

Spex, it's nothing personal... it's just business.

If a business goes bankrupt and the pension fund is insolvent,
the Pension Benefit Guaranty Corporation (PBGC) steps in to meet
the obligations of the fund. Corporate exec's of failing businesses
know this, and so have no reason to put "their" $ into the fund.
Once the business is in bankruptcy, the PBGC becomes
(one of many) creditor of the plan's sponsor (the business).

So the question here becomes:
Can the PBGC make Twinkies that last as long as those stored in our nuclear fall-out shelters ?

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11-19-2012, 03:09 PM	#33
Lamplighter Person who doesn't update the user title Join Date: Jun 2010 Location: Bottom lands of the Missoula floods Posts: 6,402	Spex, it's nothing personal... it's just business. If a business goes bankrupt and the pension fund is insolvent, the Pension Benefit Guaranty Corporation (PBGC) steps in to meet the obligations of the fund. Corporate exec's of failing businesses know this, and so have no reason to put "their" $ into the fund. Once the business is in bankruptcy, the PBGC becomes (one of many) creditor of the plan's sponsor (the business). So the question here becomes: Can the PBGC make Twinkies that last as long as those stored in our nuclear fall-out shelters ?

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