Sentences with phrase «pensions of bankrupt companies»

Ontario is the only province to insure the pensions of bankrupt companies through its Pension Benefits Guarantee Fund (PBGF), which backstops the first $ 1,000 per month in pension benefits per plan member if a company goes bust

Not exact matches

The effect often leaves a bankrupt shell of a company, or at least enables corporate raiders to threaten employees with bankruptcy that would wipe out their pension funds or employee stock ownership plans if they do not agree to replace defined benefit pensions with riskier contribution schemes.

The researchers were surprised to found that only 20 percent of bankrupt companies in their data set actually shifted responsibility to the Pension Benefit Guaranty Corporation, Jiao said.

History is littered with examples of companies that once appeared to be rock solid who later were bankrupted and ruined the pension savings of their constituents.

The Supreme Court of Canada has agreed to hear the Indalex Limited case, which will determine if underfunded pension plans should be treated as a priority when it comes time to liquidate the assets of a bankrupt company.