Yellow Corp officially filed Chapter 11 bankruptcy Sunday (8/6/23). Pensions & Investments published an article on August 7th, 2023, discussing the status of your Yellow Corp. retirement benefits.
Key Takeaways:
- Participants whose benefits transferred to the insurance company in 2021 are not affected and will continue to receive 100% of their benefits.
- Union employees will continue to receive their pension benefits. (These benefits will remain reduced).
- Pension Benefit Guaranty Corp (PBGC) has the option to terminate Yellow’s pension and take it over.
Participants in the non-union Yellow pension plans should keep a close eye on what the PBGC decides to do in the coming days to understand what will happen to your benefits.
See Full Article:
