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Delta reduced its pension and other retirement liabilities by more than $3.5 billion last year, and there could be more improvement coming in the next few years.
Airlines, like any business, are susceptible to market fluctuations and economic difficulties. The economic structure of the airline industry may contribute to airline bankruptcies as well. One major element in almost every airline bankruptcy is the rejection by the debtor of its current collective bargaining agreements with employees.
In the past, US Airways and United Airlines, now merged into United Continental , have seen the PBGC take over certain pension-plan obligations to provide benefits to their workers as part of the ...
The Employee Retirement Income Security Act of 1974 ( ERISA) ( Pub. L. 93–406, 88 Stat. 829, enacted September 2, 1974, codified in part at 29 U.S.C. ch. 18) is a U.S. federal tax and labor law that establishes minimum standards for pension plans in private industry. It contains rules on the federal income tax effects of transactions associated with employee benefit plans. ERISA was enacted ...
State retirees worry that the panel, made up of 'high-income financial types' might not realize the impact the lack of COLAs has had.
The 134,000 members of the Association of BellTel Retirees have banded together to fight for the protection of retirees. The association believes that with all retirees acting together they can achieve pension inflation protection and, through congressional action, restore and protect the healthcare benefits that have been chiseled away through passage of federal retiree healthcare protection ...
Delta Air Lines is one of the major airlines of the United States and a legacy carrier headquartered in Atlanta, Georgia. [1] The United States' oldest operating airline and the seventh-oldest operating worldwide, [7] Delta along with its subsidiaries and regional affiliates, including Delta Connection, operates over 5,400 flights daily and serves 325 destinations in 52 countries on six ...
Given the choice, should a soon-to-be-retiree take the monthly company pension or the whole pension amount at once – known as "the lump?" Entire taverns can be polarized by this question.
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