This is called and "indirect bailout"...

Pension Agency Sounds Alarm on Big Three

"The agency that protects pension plans raised new concerns about Detroit's three auto makers, saying their use of pension funds to pay for restructuring threatens to drain the funds and leave the agency footing the bill.

The U.S. Pension Benefit Guaranty Corp. this week sent letters to General Motors Corp., Ford Motor Co. and Chrysler LLC asking for projections on how the companies plan to use their pension plans to cover early retirements or other buyout deals."