DOL proposes exemption to allow new health plan for Chrysler retirees to acquire company securities – 09-1210-NAT – [10/02/2009]
wrote an interesting post today on
Here’s a quick excerpt
The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) today announced a proposed exemption that, if granted, would allow the New Chrysler Corp. to transfer approximately $4.59 billion promissory note and company securities to a Voluntary Employees Benefit Association (VEBA) Plan established to provide health benefits for the company’s retirees. The retiree health plan would cover about 120,000 retirees and dependents when it becomes effective on Jan. 1, 2010.
Read the rest of this great post here
