The Effect of Firm Bankruptcy on Retiree Benefits, with Applications to the Automotive and Coal Industries

Author / Creator

Library of Congress. Congressional Research Service

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Online

Summary

Explores protections of benefits awarded retirees and future retirees of bankrupt private-sector employers under current law, and investigates whether bankrupt firms can invalidate previous commitm...

Explores protections of benefits awarded retirees and future retirees of bankrupt private-sector employers under current law, and investigates whether bankrupt firms can invalidate previous commitments covering retiree pensions and health insurance. Provides brief case studies of bankruptcy proceedings where competitive pressures resulted in changes in business outlook of the automobile and coal sector, focusing on bankruptcies of General Motors Corp., the Delphi Corp., and the Patriot Coal Corp. .

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