[ILLUSTRATION OMITTED] AFTER 22 YEARS WITH FORD MOTOR CO., HANK Neumayer is thankful that he is covered by his company's pension plan and hopes his job--and his benefits--will last for another eight years, when he'll qualify for early retirement. But he's not counting on...
Amid all the pre-election, end-of-session congressional debates over military spending, minimum-wage increases and offshore drilling, Congress also dealt with the matter of pension reform. That sounds like a yawner, but this issue is perhaps the most important one Congress will deal with in this and coming sessions. ...
WASHINGTON -- A 93-5 Senate vote passes major pension legislation onto President Bush for his expected signature. Young workers, Wall Street, a couple of airlines and U.S. taxpayers could come out as winners in the pension changes. Some older employees, as well as truck drivers and construction workers...
WASHINGTON -- Hoping to reverse the deterioration of pension plans covering 44 million Americans, the Senate voted Wednesday to force companies to make up underfunding estimated at $450 billion and live up to promises made to employees. The action came a day after the federal agency that insures...
If you work for United Airlines, you don't need to be told that your pension is in trouble. Earlier this year, the airline said it was defaulting on its pension, resulting in benefits cuts for thousands of workers. But what if you work for another troubled company? How can you...
When a judge recently agreed to let United Airlines renege on its pension promises to its workers, a new and cloudy day had dawned. A day of betrayal, to be followed by a long twilight of insecurity. For even as George W. Bush is trying to slash benefits that Social...
For 39 years, Earl Potter has fixed airplanes for United Airlines. He rises at 4 a.m., arriving at Chicago's O'Hare International Airport by 6 a.m. to work in rain, biting cold or summer heat. Potter, who also has a pilot's license, has worked awful hours all these years...
WASHINGTON -- Sen. Jim Bunning is from a state perhaps best known as home to the horse industry, but Kentucky is also where 8,000 Delta Air Lines employees live, which helps explain why the Republican lawmaker was fuming on Tuesday. Why, he wanted to know, have Delta and...
While we are very aware of the pension problems at United Airlines and at the Pension Benefit Guaranty Corp., the government's pension insurer, it seems we've forgotten about non-union employee losses ("United to ditch pension plans," Money, Wednesday). Many have commented that unionized employees brought the troubles on themselves...
M2 PRESSWIRE-21 April 2005-NORTHWEST AIRLINES: Northwest Airlines supports pension reform legislation introduced in U.S. Senate; Bill would help protect taxpayers and workers with pension benefitsC1994-2005 M2 COMMUNICATIONS LTD RDATE:20042005 MINNEAPOLIS - Northwest Airlines today announced its support for legislation introduced...
Byline: George Brandon Congress won't make major revisions for at least a year or two in the way companies calculate their pension liability and determine how much money they must put into their plans. This year, Congress will simply extend the status quo for...
AFTER A 17-YEAR career as a mechanic for United Airlines at San Francisco International Airport, Rich Lesnik retired early at age 56. He left in September 2002, just a few months before the airline filed for bankruptcy, because he thought it would protect his retirement...
WASHINGTON -- The Pension Benefit Guaranty Corporation PBGC has assumed responsibility for the pensions of 32,500 workers and retirees of bankrupt WestPoint Stevens. WASHINGTON -- The Pension Benefit Guaranty Corporation PBGC has assumed responsibility for the pensions of 32,500 workers and retirees...
By Len Boselovic, Pittsburgh Post-Gazette Knight Ridder/Tribune Business News Nov. 16--The federal agency that insures pension plans covering more than 44 million Americans yesterday reported a record deficit of $23.5 billion -- more than doubling the previous record of $11.5 billion,...
By Analisa Nazareno, San Antonio Express-News Knight Ridder/Tribune Business News Oct. 23--Alana Lucas retired from United Airlines two years ago feeling fairly secure she would be receiving the pension promised to her after 35 years of service. This was despite her former...
ALEXANDRIA, Va. -- US Airways lawyers told a federal bankruptcy judge here Thursday that the carrier can't afford to maintain its current pension plans. The lawyers said US Airways has no choice but to cut back if the company is to become solvent. Workers "shouldn't be counting on their...
By John Stucke, The Spokesman-Review, Spokane, Wash. Knight Ridder/Tribune Business News Oct. 6--A federal agency that insures corporate pension programs will rescue Kaiser Aluminum Corp.'s underfunded retirement plan covering 9,600 hourly employees. The decision affects about 4,000 Steelworkers in...
Today's debate: Pension troubles Our view: Loopholes lead to underfunding of plans, unfulfilled promises. For decades, United Airlines has promised to take care of its pilots, flight attendants and other workers in retirement. But that was before it plunged into financial distress. Last week, United said it plans...
Steaming at United Renewed retirement worries for workers in America and Britain WORKING for an airline has its perks: free trips round the world, discounts for relatives and much more. That is small comfort to angry employees of United Airlines, America's second-largest...
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