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Gerald ("Jerry") Grinstein (born 1932) is an American businessman, the former Chief Executive Officer (CEO) of Delta Air Lines. He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. He became CEO of Delta in 2004, a time of financial crisis for the airline.
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 ...
Facts. Mr Spink was denied full benefits from Lockheed Corporation after being rehired in 1988. He claimed that an amendment of the plan, to exclude people over 61, violated § 406(a)(1)(D) of the Employee Retirement Income Security Act of 1974 (ERISA), which prohibits a fiduciary from causing a plan to engage in a transaction that transfers plan assets to, or involves the use of plan assets ...
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. Delta Air Lines, Inc. Makes ...
Frank Lorenzo. Francisco Anthony "Frank" Lorenzo [1] [2] (born May 19, 1940) is an American businessman. He managed Continental Airlines and Texas International Airlines between 1972 and 1990, through airline deregulation. Lorenzo also led the creation and management of the holding company for the group, Texas Air Corporation, through which New ...
Types of retirement plans. Retirement plans are classified as either defined benefit plans or defined contribution plans, depending on how benefits are determined.. In a defined benefit (or pension) plan, benefits are calculated using a fixed formula that typically factors in final pay and service with an employer, and payments are made from a trust fund specifically dedicated to the plan.
Public employee pension plans in the United States. In the United States, public sector pensions are offered at the federal, state, and local levels of government. They are available to most, but not all, public sector employees. These employer contributions to these plans typically vest after some period of time, e.g. 5 years of service.
Delta Airlines and seven-time Super Bowl champion Tom Brady have announced a new partnership Wednesday in which Brady will serve as a long-term strategic advisor to the company.. The partnership ...