CHANGE IN PLAN: American Airlines said Wednesday that it won't seek to end traditional pensions as part of its bankruptcy overhaul, but wants to freeze them instead.
FROZEN, NOT DEAD: Employees keep current pensions but won't earn additional benefits. For employees entering peak earning years, pensions won't be as big as hoped.
GOVERNMENT RELIEF: It's a relief for the Pension Benefit Guaranty Corp., which insures traditional pensions. The PBGC attacked American for seeking to terminate plans covering 130,000 current and former employees. If American had ended them, it would have dumped billions of dollars in obligations on the agency.
‘Israel Heading To Nepal To Learn From The Earthquake How To Kill Better’– Yes, Someone Said This | Matt Vespa
Rioters And Looters Belong In Jail, In The Morgue Or On The Business End Of A Nightstick | John Hawkins