How will payments through the Supplemental Executive Retirement Plan be affected?
Chrysler’s filing for entry into Chapter 11 bankruptcy protection does not change the status of its defined benefit pension plans and defined contribution plans, such as 401(k) plans. Defined benefit plan and defined contribution plan benefits are protected by law from claims of Chrysler’s creditors. The Pension Benefit Guaranty Corporation (PBGC) has confirmed that as the bankruptcy process unfolds, it will work with Chrysler to ensure continuation of the defined benefit pension plans. Benefits in the Company’s defined benefit pension plans are guaranteed up to the limits set by law. For more information about the PBGC guaranty, you can log-on to the PBGC website at www.PBGC.gov. We are required by law to stop the payments of non-tax qualified SRP benefits. We are uncertain at this time whether the law will permit the Company to pay any portion of non-tax qualified SRP benefits in the future. We will continue to share updates with our employees and retirees on a regular basis. 68. In
