If the GM pension plans are terminated, they would be at least $20 billion underfunded, according to the government's Pension Benefit Guaranty Corp. The federal agency would insure about $4 billion of that gap, leaving the GM pension plans with $100 billion in obligations and only $84 billion in assets.
if the Chrysler pension plans are terminated, they would be at least $9 billion underfunded, according to the agency, which would insure about $2 billion of that. This would leave the Chrysler pension plans with $28 billion in obligations and only $20 billion of assets, according to the pension agency.
When Daimler sold Chrysler to the private equity firm Cerberus in 2007, it agreed to contribute $1 billion to the PBGC if the agency ever had to take over Chrysler's pensions. Daimler might now have to live up to that agreement.
Read the whole story, click on the following: Retired Auto Workers Face Big Hit - washingtonpost.com