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Since 2001, U.S. statewide pension funds have experienced significant funding challenges due to the recessions of 2001-2002 and 2008-2009. Prior to the Dot-Com Crash, statewide pension funds were over 95.6% funded in the aggregate. In 2002, the funded ratio had declined to 82.1%.
Gerald Grinstein. 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.
As a result, in mid-2003, Worldspan was sold by its owner airlines to Citigroup Venture Capital and Ontario Teachers' Pension Fund which in turn sold the business to Travelport in 2007. Worldspan was formed in 1990 by combining the PARS partnerships companies (owned by TWA and Northwest Airlines, Inc.) and DATAS II, a division of Delta Air ...
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 ...
The windup of the $5 billion Nortel pension plan began in October 2010. Between that time and July 2011, Nortel pensioners had been receiving their full pensions even though actuaries have determined that the pension trust is underfunded by $1.5 billion. The reduced payments are to retroactively reflect those overpayments.
AUM. $207.4 Billion (March 2018) [2] Website. www .osc .state .ny .us. The New York State Common Retirement fund is a public pension plan for the employees of New York State government. As of 2018, it is the third largest public pension plan in the nation, and holds $207.4 billion in assets. These assets are overseen by the New York State ...
This list of largest pension funds in the United States involves two main groups: government pension funds for public employees and collectively bargained pension funds, jointly managed between employer and employee representatives after the Taft-Hartley Act of 1947.
The airline stated that its $2.85 billion pension shortfall (which grew from $1.2 billion in 2007) was a "liquidity risk" in its first-quarter report, and it required new financing and pension "relief" to conserve cash for 2010 operations.