The following Q&A was provided by General Motors Corp. to retireees following the companys Chapter 11 bankruptcy filing: What happens to retiree benefits?
Between now and the close of the sale of GM’s assets to the New GM, we do not expect there to be any changes to the qualified pension plans, health and life insurance benefits that GM currently provides to retirees, survivors and beneficiaries. It is too soon to know with certainty how benefits for retirees of our [U.S.] operations may be affected once sale to the New GM has been completed. However, we do anticipate a reduction of certain benefits in the future.
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