OBJECTIONS TO ASARCO PENSION AND 401(K) PLAN AND RETIREE BENEFITS CLAIMS

While ASARCO LLC cannot provide legal advice to employees, please note that there is no need to file a response to ASARCO's objection to your claim or attend the scheduled hearing if your claim is for pension benefits under an ASARCO pension or 401(k) plan or related to retiree benefits.

The pension and 401(k) plans are separate legal entities which are not in bankruptcy. The assets of these plans are not the property of ASARCO and are not subject to the claims of ASARCO's creditors. There is no need to file a claim against ASARCO to protect any rights under these plans. Benefits under these plans are guaranteed, up to certain limits, by the Pension Benefit Guaranty Corporation ("PBGC"), a federal agency. Benefits which are in pay status continue to be paid during the pendency of ASARCO's bankruptcy, and ASARCO has continued to make during the bankruptcy the contributions that are required by law. For more information on the PBGC, you can visit the PBGC's website at www.PBGC.gov.

If you filed a claim for retiree medical benefits, please be advised that ASARCO continues to pay such benefits (where applicable, under its collective bargaining agreements or the retiree settlement). Such benefits are provided by ASARCO. ASARCO (and its successors) retains all rights to modify or terminate such benefits in the future, subject to applicable law and agreements, but does not intend to terminate such benefits through the bankruptcy case. Therefore, ASARCO has objected to proofs of claims for such benefits on the basis that there is no claim owed under bankruptcy law.