Help Delta pilots and retiree save their pension

xflyer

Newbie
Oct 11, 2006
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Delta Air Lines has chosen to terminate only the pensions of pilots. Please help us by joining the following petition.
Thank You
Wendell

v1.06
Subject: Petition to Save Our Pensions
Delta Air Lines has terminated its Pilot Pension Plan.

We ask you assistance in signing the following petition to Congress in an effort to save the pensions of all Delta Air Lines employees including pilots. Although the language is technical, we are just trying to get a date correction to the lump sum provision that Delta Air Lines has said prevents them from continuing the pilot pension plan. Forward this email to all your family and friends to allow them to add their name to the list. The list will be accumulated, sorted by state, and sent/and or hand delivered to members of Congress. The deadline for signing the petition is November 5, 2006. If you can personally deliver the petition to your Congressman or Senators email [email protected]. Please follow this link http://66.23.211.166/forms.nsf/6beb7eb674f...76707c?OpenForm
to a web page that will allow you to add your name to the list. To add a spouse, return to the form and fill in again. To see the current List of Names on the Petition click
http://66.23.211.166/forms.nsf/List?OpenPage
The petition will be checked for bogus or duplicate entries.
This is no substitute for individually contacting your representatives and please continue to do so.

Thank you for your efforts.
Wendell Lewis, Will Buergey, Chuck Rodema

V1.06

TO OUR ELECTED REPRESENTATIVES:
We the undersigned respectfully request your assistance in saving the pensions of all Delta employees, including pilots.

On August 4, 2006, Delta Air Lines petitioned the Bankruptcy Court for a Distress Termination of the Pilots Pension Plan. In a one hundred thirty page filing to the court, ninety nine pages are devoted to affidavits from company officials (Bastain, Coleman, McDaniel, and Watson) stating that the plan had to be terminated because of the resumption of lump sum payouts.

Recently passed Pension Reform legislation, HR 4, Public Law 109-280, contains language that requires Delta Air Lines to possibly resume lump sum payments from the Pilot Pension Plan. Section 103, "BENEFIT LIMITATIONS UNDER SINGLE-EMPLOYER PLANS." Per the Bill, the "EFFECTIVE DATES" of Sec 103 © (1), which is entitled "IN GENERAL. --" of the Amendments is for "plan years beginning after 31 December, 2007." Further, there is a "COLLECTIVE BARGAINING EXCEPTION. --" in Section 103 © (2) that says for CBAs reached prior to 1 January 2008, the section shall not apply until the termination date of the CBA, or 1/1/2010 if later.

A technical correction to the bill that would prohibit lump sum distributions immediately could possibly enable Delta Air Lines to meet their pension obligations. I urge you to join the other members of Congress to make a “Technical Correctionâ€￾ to the Pension Reform Bill and remove this discriminatory exception, or to add the phrase "Except for the Plans of companies that have declared bankruptcy," to the beginning of Section 103 © (1) and Section 103 © (2), thus making the Lump Sum suspension available immediately. Any suitable language to prevent resumption of lump sum payouts for under funded plans could save the pensions of thousands of Delta pilots.


Your assistance in correcting this provision is essential to the lives of many of your constituents and fellow Americans. Every effort should be made to ensure that Delta Air Lines lives up to their moral and contractual obligations to all employees as intended by Congress and the President.

On behalf of all Delta pilots, retirees, their families and friends, thank you for your efforts.
 
Although the language is technical, we are just trying to get a date correction to the lump sum provision that Delta Air Lines has said prevents them from continuing the pilot pension plan.

What is this change? In my small mind I didn't see it? Perhaps NO lump sum provision? In my eyes, that is the only feasible way to cover the plan...but if you allow hundreds of pilots to walk away with a million + each all at once, I'd say that presents a pretty dumb cashflow issue that is not what a carrier with an existing cashflow issue (hence BK) can handle. Can you break down for we feabile-minded what the date change is? In the text I noticed a couple of dates but both were far enough into the future to cause a severe issue for DL and probably liquidation.

Thanks.

Chapter 12
 
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