If a company goes bankrupt, what happens to the retired?
My grandfather used to work for an auto-company, and is able to survive because of the retirement checks and insurance from that company. If the company he used to work for goes bankrupt, will he still get the retirement check and insurance? Are these funds separate from the company?
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Retirement checks will continue as the PBGC will take over making payments. Health (and other) insurance is not covered. See the web site below for details.