Remington retirees receive a;arming letter

Former Remington Arms sends a letter to retirees that made them think they were losing their pension.

In the mail this past week that had them thinking they were losing their pensions!

News channel two's gary liberatore looked into this and joins us now live in the studio...and gary what does this letter say.

Take a look.

All it says is that remington did not meet its obligation to make pension plan contributions of more than 8 million dollars....plus accrued interest of more than one million dollars on january 1st and january 15th.

And that's it.

So you can see why these former workers would be worried.

But...and yes..there is a but.

There is a government agency that guarantees pensions.

It's called the pension benefit guaranty corporation...a government run entity that takes over when...for whatever reason...a company's pension goes under.

Late this afternoon i spoke with a spokesperson for the u-m-w-a...the union that represents these former workers.

Tc : 00:18 "i want to make sure people understand that as a result of the bankruptcy, remington was relieved of his obligation to continue making contributions into the pension plan.

That does not mean however that peoples pensions are going to stop.

They are not.

The pension benefit guarantee corporation which is a government organization it'sga better word mang transfs from t insurance prram thathe pg bc haset up into the pension an, the remington patch anpaint.tc : 01:51 "and will be there be any disruption in distribution?

There should be no disruption in distribution of anybody's pension, they should no reduction in the amount that anybody should receive."

On a side note...there is a hearing in bankuptcy court tomorrow regarding the new owners of the former remington plant in ilion...roundhill group... although the didn't purchase remington's facilitiy in huntsville, alabama...they did purchase the assetss inside the facility...but so far have not removed those assets.

And their date to do so has passed, so they are seeking more time.

If that is not granted, they would lose those physical assets.

In the studio, gray liberatore, news channel 2.