Senate request' PBGC restore US pension.

[brokenwrench]

Letter to PBGC 29JAN07

 

[Non Rev]

Wow! Bet they did not see that one coming............

But they do have a point.

How much you want to bet Feb 1 will come and go and no deal?

 

[700UW]

Wasting their time, the courts terminated our pensions, the PBGC made a deal with US and they are not allowed by law to restore people's pensions.

That would have to come from collective bargaining with US.

 

[AirDad767]

Letter to PBGC 29JAN07

Don't take that bet!
Delta recieved exit financing reported this morning in the order of 2.5 billion. Good Luck to you folks at Delta. Now, how about The Tempe crowd earn thier bonuses and w-2's and run this place! Pension reform wouldn't suck either.... 🙄

AD

 

[autofixer]

I just fired off copies of the letter to my two powerful Senators, Byrd and Rockefeller. It does not hurt to ask. As a matter of fact, your elected representatives will NOT act, unless you kick 'em in the back side.

 

[WorldTraveler]

Five US Senators have asked the PBGC to explore reinstating US Airways’ terminated pension plans, particularly in light of the Pension Preservation Act which allows airline pension obligations to be stretched out for a number of years.

The Senators note than US’ financial performance has greatly improved, as evidenced by its ability to borrow money to attempt to buy Delta Air Lines.

 

[brokenwrench]

Wasting their time, the courts terminated our pensions, the PBGC made a deal with US and they are not allowed by law to restore people's pensions.

That would have to come from collective bargaining with US.

The senators state "We understand that PBGC has authority to restore terminated pension plan.........."

Are you so quick to "give up the ship?"

 

[Elevation]

If anybody thinks pensions are coming back in style in america, they need to get there head examined.

This is a politcical move by a Senator from GA. They don't care about you or your pensions, they care about keeping there contributions from DAL coming. Don't be fooled.

 

[delta777]

If anybody thinks pensions are coming back in style in america, they need to get there head examined.

This a politcical move by Senators primarily from GA. They don't care about you or your pensions, they care about keeping there contributions from DAL coming. Don't be fooled.

Way to fight the good fight, Elevation. I bet Doogie wishes he had an entire workforce of your clones.

 

[whlinder]

I'm surprised that Cantwell and Murray care, since they are from WA.

This is interesting.

 

[brokenwrench]

Do not be fooled into thinking it can not happen.

CO/AA/UA/AK/FL and even FRONTIER have a defined retirement plan.

DL has in its standalone plan a replacement to its pension plan.

The request to the PBGC is to have PAST bennies paid in full. Not in the Reduced amount from the PBGC. US should honor its past agreements with its employees before "dealing" on Wall Street with that money.

 

[Seatacus]

How about restoring my shares of US stock that was terminated (Geez......what was I thinking buying stock in my own company????) :blink:

 

[brokenwrench]

How about restoring my shares of US stock that was terminated (Geez......what was I thinking buying stock in my own company????) :blink:

Shares were and are at risk investments. Pensions are a form of deferred compensation that was defaulted on by US and given to the taxpayers (PBGC) to pay, at a reduced rate. If the PBGC restores the plan US will have 30 years to fund it and current and past retirees will receive there full benefits.

 

[Seatacus]

Shares were and are at risk investments.

Yeah... I know. It just amazes me that when you buy shares of a company I thought you owned a part of the company. So they go bankrupt and change to a new company with the same name and I own nothing. You would think they could reorganise my stock to go with the new company. Oh well, never again.....

 

[Walmartgreeter]

Wasting their time, the courts terminated our pensions, the PBGC made a deal with US and they are not allowed by law to restore people's pensions.

That would have to come from collective bargaining with US.

Also, how do you get the 400M back that came out of the pilots pension plan to buy E170s...and "save" the airline? Oops, those were sold...... with no return to the pilots!

There were so many shell games played with our retirements, it would be like putting Humpty Dumpty back together again. Nice to think about...not going to happen.

Greeter.