The Pension Benefit Guarantee Corporation announced it will supplement Pensions for the A&P Plan, now that the Company is bankrupt.
PBGC to Pay Pension Benefits for A&P Grocery Chain Employees
The FAQ's about pension guarantees are here:
FAQs - Insured Plans & Benefits at Pension Benefit Guaranty Corp
If you are not completely sure of how your pension plan would be guaranteed or the date which the guarantee would take effect, it would be well to understand the rules which apply, as there could be a shortfall. The total that the PBGC will pay for the A&P conglomerate is nearly $300 million. The maximum individual payout from the PBGC is $57,500/yr, taken at age 65.
In any case, knowing the intricacies of the guarantee plan should be worth the time spent in reading the link... just in case.
Perhaps someone here could explain what would happen if the PBGC should not be able to cover the guarantees, since the PBGC is not governement funded. The PBGC currently funds pensions for 1.5 million people in failed plans and covers 10 million pensions.. The plan is expected to be solvent through 2025, an improvement from the 2014 projection of solvency through 2022.