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Are Chrysler’s pension plans protected from creditors’ claims in the bankruptcy proceedings?

April 26, 2017Bankruptcy Chrysler Pension plans proceedings protected

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Are Chrysler’s pension plans protected from creditors’ claims in the bankruptcy proceedings?

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Yes. Federal law protects the funds in qualified pension plans from creditor claims. 55. Will anything happen to Chrysler pension plans as a result of the bankruptcy? Chrysler’s pension plans are governed under the provisions of the Employee Retirement Income Security Act (ERISA). Under the proposed transaction with Fiat, Chrysler’s qualified pension plans will be assumed by New Chrysler.