United Airlines to terminate its pension plan

[ailsagirl]

Fri Apr 22, 2005 02:04 PM ET

CHICAGO, April 22 (Reuters) - United Airlines reached an agreement with the U.S. government on Friday to terminate its employee pension plans, union officials said.

Under the deal to be announced later in the day, the federal Pension Benefit Guaranty Corp. will assume four retirement plans covering pilots, flight attendants, mechanics, ground workers and other employees.

United has sought to cut costs by eliminating its traditional pensions and negotiate cheaper deals with its unions.

http://www.reuters.com/financeNewsArticle.jhtml?type=bondsNews&storyID=8269183

Another one bites the dust...

[whistle]

1. GM is next with their employee retirement plan

[wakeme2008]

2. Let me understand this

United will not pay pensions, but now Uncle Sugar's Endless Supply Money Tree will pick up and pay them.

Another sweet Corporate Deal....

[katty]

3. more Corporatate Welfare

as the D.C. program slashing Christian faithful yell 'go home homeless'

[fortyfeetunder]

4. Too bad this is not LBN

because this is the canary in the coal mine chirping.

Folks need to be prepared for eventual indentured servitude, only get (minimal) pay without bennies and don't even think of pensions....