PBGC Payments and G.M. Topoff!

[Jack]

As We all know 1-10-2010 is upon Us.

I would like to remind everyone to keep track of all MONIES RECEIVED from both the PBGC and GM.

If You feel Your being overpaid set the difference aside in a separate savings account. You will need those funds in the Future when the

PBGC deducts 10% until all over payments are paid in full.

I am told that the GM portion will not go in until 1-4-2010.

It may be a good idea to set up a spreadsheet to keep track of all this if You have Microsoft Office. If You dont have Microsoft Office here's

a link to a very good FREE program that is comparable and compatable with Microsoft Office.


http://download.openoffice.org/index.html

[Jack]

I just spoke to Timothy at the PBGC and Our Monies will not be Deposited until 1-04-2016 due to the holidays.

Also I spoke with Patricia Farmer at the Delaware Office.

I asked Her how our age at when we retired would affect our future PBGC Payments and she told me that the process is so involved that she could not explain it to me.

Also she agreed with me that it could take up to 5 years to figure this all out.

So hang tough MAKE CALLS AND ASK QUESTIONS.

MOST OF ALL SHARE THE INFORMATION YOU GATHER WITH EVERYONE ELSE.

[retired35]

I would like to add to this that your record keeping start in July of 2009.  Since the the PBGC took over the Delphi Pensions in July of 2009, all pension monies since then might be considered from the PBGC, even though your check stub says it came from The Delphi Hourly Pension Trust.
 
If you can't set up a spreadsheet keep all your stubs!
 
Document, Document, Document is all I can say!

[Jack]

A retired friend of mine stopped by today with his stubs from the PBGC and G.M.

His PBGC check was over about $450.00 and the GM stub read $117.00.

He retired in "06" with me.

So watch Yours closely I should get mine tomorrow.

[Gordon Freeman]

Jack

Why only $450 from the PBGC? Did your friend have a full 30 yrs in? And I don't understand why some get more from the PBGC and others only get only $450?? What a mess!

[papa8750]

my neighbor just came over with his fedelity check-$117. 00 and his pbgc check reciept for $2,756.  Taxes, state anyway, and medical benifits still need to be paid.  and don't forget the pbgc is an ESTIMATED amount.  How in the world did gm get off the hook for an average of $400+ by stiffing the government YOU AND I?

[Jack]

Jack

Why only $450 from the PBGC? Did your friend have a full 30 yrs in? And I don't understand why some get more from the PBGC and others only get only $450?? What a mess!

Gordon he was overpaid by the PBGC by $450 and some change not shorted. 

[Jack]

my neighbor just came over with his fedelity check-$117. 00 and his pbgc check reciept for $2,756.  Taxes, state anyway, and medical benifits still need to be paid.  and don't forget the pbgc is an ESTIMATED amount.  How in the world did gm get off the hook for an average of $400+ by stiffing the government YOU AND I?

Papa his G.M. check was $117.00 less $30.00 for health care. He paid no state or federal tax on that check. The PBGC does not take out State Tax. That's OUR responsibility to pay that. If GM did not submit the figures to the PBGC we will most likely be overpaid by the PBGC until they do.

This was part of the GM plan stiff the taxpayers for paying our pensions so they hate the Unions even more than they do now. Think of all the monies they got off the hook for. If they saved $2000.00 ahead each month at 70,000 people that's quite the savings to invest in their off shore operations each year until we shit  the bed.

 

[Gordon Freeman]

Jack

Why only $450 from the PBGC? Did your friend have a full 30 yrs in? And I don't understand why some get more from the PBGC and others only get only $450?? What a mess!

Gordon he was overpaid by the PBGC by $450 and some change not shorted. 

Oops I guess I misread it, thanks for the clarification.

[Jack]

Everyone take NOTICE Your PBGC Statement in the left column ( Payment Sources ) STATES ( EST BEN1 ).

This means Your amount is a ESTIMATE not the EXACT Amount. 

KEEP GOOD  RECORDS  OF ALL OF THIS FOR WHAT EVER COMES DOWN IN THE FUTURE !

[Bella.J]

Heard yesterday that the PBGC and GM have figures all set to make pension checks correct starting with people over 65 om Feb 1 and on March 1 people with last name starting with A thru Q will have correct pension checks and people Q thru Z will start on April1. Family member was benefit rep.

[Jack]

Heard yesterday that the PBGC and GM have figures all set to make pension checks correct starting with people over 65 om Feb 1 and on March 1 people with last name starting with A thru Q will have correct pension checks and people Q thru Z will start on April1. Family member was benefit rep.

Don't quote Me but My understanding is this pertains to the IUE/CWA and Salaried since their fate has been sealed pretty much.

And they are a much smaller group to deal with. Delphi is much larger and a more complex situation.

Also the PBGC maintains that when any changes are made You will be notified by mail or if You have a account set up with them You can get a notification thru their site.