This information page is offered as a service to workers and retirees who have questions about their PBGC-insured benefits. The PBGC is not commenting on the future of U.S automotive companies or suggesting their pension plans will be assumed by the PBGC. 

The current financial difficulties of U.S. car makers and auto parts companies have led to increased concern among their workers and retirees.

Each day, the PBGC hears from worried callers who ask, "Will my pension be safe?

The answer is, "Yes, up to certain limits."

The qualified defined benefit pension plans of the Big Three automakers and most of their principal suppliers remain ongoing and insured by the PBGC. If a company cannot maintain its underfunded pension plan, the PBGC will step in and take responsibility for the plan. The PBGC will pay all the plan's benefit promises, up to certain limits set by Congress. These limits mean that some individuals, typically younger retirees, will see reduced benefits.

Unless and until the PBGC takes responsibility for your plan, we cannot answer specific questions about individual benefit amounts or possible reductions. For information on the status of your benefit, contact your plan administrator.

If you have questions on the PBGC, including the legal limits on benefits, please see the links below.  

• PBGC, Daimler Agree on $600 Million Cash Infusion into Chrysler Pensions
• Of special interest to auto workers is this radio interview with PBGC Acting Director Vince Snowbarger.
• Acting Director Snowbarger Detroit Television Interview
• For general information about the PBGC, its benefit guarantees and legal limits on those benefits, see these frequently asked questions.
• Chrysler Pension Plans: Information for Workers and Retirees
• ''Introduction to the PBGC," a video and interactive frequently asked questions designed for individuals whose pension plan has been assumed by the PBGC.