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The PBGC originally announced the Delphi plans would end as of July 22, but that date has now been changed to July 31. Why did the date change?

April 26, 2017announced changed Delphi july 22 july 31 originally pbgc plans

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The PBGC originally announced the Delphi plans would end as of July 22, but that date has now been changed to July 31. Why did the date change?

1 Answer

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10 Posted

The process of transferring pension plans and their assets to PBGC trusteeship is administratively easier when done as of the end of the month. After review of the facts and circumstances in the Delphi case, we have determined that setting a termination date of July 31 for the Delphi plans will reduce administrative costs and ensure a smooth transition to PBGC trusteeship. The new date will not have a negative impact on any Delphi participants.