Lanes Merge Ahead

[BillLumbergh]

Watch it, boys and girls.

 

[BillLumbergh]

OK. I suggested folks to watch it.

Debate the topic; do not debate the posters.

Posts are going to start getting deleted.

 

[USA320Pilot]

Pitbull:

Per ALPA R&I, yesterday Arlen Specter introduced an amendment to the pension bill under consideration on the floor of the Senate to restore the defined benefit pension plan at US Airways. Amendments to this pension bill are restricted in number and content according to rules agreed to by the senate leadership in December at the end of the last session. Content rules require that amendments be limited to three subject areas: The interest rate used in calculating pension obligations, multi-employer rules, which do not apply to our situation and the deficit reduction contribution requirements. Amendments not considered germane to at least one of these three issues are not permitted to be added to the bill. Senator Specter is pushing to have his amendment to restore our DB plan considered germane under the rules and included in this pension legislation. The senate will continue to accept amendments to the bill today and then plans to vote on the final legislation, which is being aired on CSPAN.

ALPA is not overly optimistic that the DB Plan will be restored, but we continue to fight.

In regard to United's DB Plans, their IRS Waiver will likely be denied, but they have a DB Plan ("A" Plan) and a DC Plan ("B" Plan), therefore, their retirement plans are easier to save.

It's too early to tell how this will work out, but United's plans will likely change.

During the PSA and US Airways merger the pilot's had two different retirement plans, which were merged. However, when the joint negotiating committee's worked with the Company to obtain a common agreement, there were separate retirement plans for each pilot group.

Respectfully,

USA320Pilot

 

[BoeingBoy]

The Senate passed pension reform legislation today - I haven't seen whether Spector's amendment is included.

Jim