American Airlines has announced it wants to end the pension plans of its 130,000 workers and retirees. The company will ask the bankruptcy court to transfer its pension obligations to PBGC.
Pensions are promises made to working Americans who count on them for a secure retirement. Those promises should not be broken lightly. PBGC will make sure the AMR pensions end only as a last resort: if doing so is necessary for the airline to restructure itself successfully after considering the possible alternatives.
Unfortunately, some of the claims that have been made about these issues aren’t true.
Read more on our webpage American Airlines Pensions: Get the Facts