US Airways Seeks OK to Replace Pension Plan for Pilots
WASHINGTON (Dow Jones) - US Airways Group Inc. will seek court approval Friday to replace the pension plan for pilots with another plan, a move supported by the creditors' committee but opposed by the union representing the pilots.
The company wants to replace the current defined benefit pension plan with a defined contribution plan that would see yearly pilot contributions of $850 million for more than 3,700 pilots during the next seven years.
http://biz.yahoo.com/djus/030219/1919001068_1.html
WASHINGTON (Dow Jones) - US Airways Group Inc. will seek court approval Friday to replace the pension plan for pilots with another plan, a move supported by the creditors' committee but opposed by the union representing the pilots.
The company wants to replace the current defined benefit pension plan with a defined contribution plan that would see yearly pilot contributions of $850 million for more than 3,700 pilots during the next seven years.
http://biz.yahoo.com/djus/030219/1919001068_1.html
