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I work for a company that may go bankrupt in the foreseeable future. I am eligible for "early retirement" immediately and, although presently working full-time, may find myself out of this job soon. I realize that my pension is guaranteed by PBGC. My question is, if you have to go to PBGC to get your pension money, are you penalized in any way (I heard rumors that you get pennies on the dollar)? Also, is it worthwhile to retire immediatley before we go into bankruptcy and thus get your total pension from PBGC if you are already receiving it when bankruptcy occurs. Thanks for any assistance!
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