- American Air Pension Battle May Spread
American Airlines wants to terminate the pensions of 130,000 workers as part of its bankruptcy proceeding. The move would be good for the company’s balance sheet, but would it be good for America?
American’s pension termination would be the largest in U.S. history. The airline wants to end the plans and turn them over to the Pension Benefit Guarantee Corp (PBGC), a government-sponsored agency that insures most private-sector defined-benefit pensions through premiums paid by plan sponsors.
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