United reaches deal to terminate 4 pension plans
(AP) - United Airlines' controversial plan to eliminate its employees' defined-benefit pension plans moved a step closer to reality Friday when the government's pension-protection agency agreed to drop its opposition.
Attorneys for United and the Pension Benefit Guaranty Corp. announced a settlement in federal bankruptcy court, terms of which were not disclosed. The PBGC then withdrew its motion for the airline's plan to be postponed.
United reaches deal to terminate 4 pension plans, continued
Posted by
Joe E on April 22, 2005 08:11 PM
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