US - The Pension Benefit Guaranty Corporation (PBGC) has announced it will terminate the pension plans of bankrupt air carrier US Airways and absorb US$3bn in liabilities owed to employees.
The claim – which covers the pensions of more than 51,000 flight attendants, machinists and other employees of US Airways – marks the second largest in the federal insurer’s history, after Bethlehe...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
