At Deadline; Pilots: More funding time.(Late News)

Pensions & Investments, September, 2004

Air Line Pilots Association International wants federal legislation that would give airlines more time to fund up their pension plans. The union is also asking its members to consider allowing them to switch from defined benefit plans to defined contribution plans, or a combination of traditional pension and 401(k)-type plans with a larger defined-contribution component.

"While the pilots at each airline will have to determine how much they want to shift, and how they want to accomplish that, it's pretty clear that defined benefit plans are under a tremendous amount of stress because of what is happening in the airline industry,'' said John Mazor, union spokesman. PBGC files UAL unit liens The PBGC has filed liens with the Illinois Secretary of State against...

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