HAYES LEMMERZ INTERNATIONAL INC. RETIREMENT INCOME PLAN
|Plan Sponsor||HLI OPERATING COMPANY INC.|
|Date of Plan Termination||November 30, 2009|
|Date of PBGC Trusteeship||December 21, 2009|
1: PBGC has taken over as trustee of your pension plan. PBGC is now responsible for paying your pension benefits up to the limits set by law.
2: PBGC is verifying plan and participant information to calculate pension benefits. PBGC has sent letters to notify all participants and beneficiaries that we took over as trustee of your plan.
3: PBGC is calculating pension benefits, subject to legal limits, owed to all participants and beneficiaries.
PBGC has finished reviewing and verifying plan and participant information. We are now calculating the pension benefits, subject to the legal limits, owed to everyone in the plan.
4: PBGC has completed calculating pension benefits, subject to legal limits, owed to all participants and beneficiaries in the plan. We are now sending formal determinations of pension benefits to participants and beneficiaries.
5. All reviews, verifications and calculations have been completed. Formal determination letters describing the amount of pension benefits have been sent to participants and beneficiaries.
Your Hayes Lemerz Pension Benefit: Final Benefit Calculations (as of 3/12/2013)
PBGC continues to calculate the final benefit amount that participants will receive from their Hayes Lemerz pension plan. This process takes at least three years. However it can take longer, depending on the complexity of the pension plan's provisions and the valuation of its assets.
We expect to send final benefit determinations to the almost 4,600 participants in the Hayes Lemerz International Inc. Retirement Income Plan by Sept. 30, 2014.
- PBGC Moves to Protect Pensions at Hayes Lemmerz International, Inc. (November 30, 2009)