Pension agency takes over United pilots&#39; plan
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SAN FRANCISCO (CBS.MW) -- The US government&#39;s pension agency said Thursday that it will assume responsibility for the pension plan set up on behalf of United Airlines&#39; pilots.
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The government&#39;s pension agency moved Thursday to assume responsibility for the pensions of United Airlines pilots, an action it already faced next year when the bankrupt carrier dumps its defined-benefit pensions.
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The government's pension agency moved to assume responsibility yesterday for United Airlines pilots' pensions, acknowledging as unfortunate but inevitable the carrier's elimination of defined benefit plans for its employees.
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CHICAGO _ The leaders of United Airlines pilots union have agreed to accept a 15 percent pay cut and not oppose the elimination of their pension plan, setting a precedent both
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CHICAGO, Jan. 8 -- United Airlines reached a tentative contract agreement with its flight attendants union Saturday, but the deal did not address the employee pension plans that have become a key point of contention.
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For the first time, United Airlines has acknowledged that it is &quot;likely&quot; to terminate its pension plans, a move the carrier said it needs to attract financing to emerge from bankruptcy.
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CHICAGO - A federal bankruptcy judge has given United Airlines a 30-day "test period" to show it can cooperate with its unions on a restructuring plan, rejecting union calls to open the process up to rival proposals immediately because United has not tried hard enough to preserve employee pensions.    The hearing came a day after the release of court papers in which United warned it "likely" will have to terminate those pension funds in order to secure the loans it needs to emerge from Chapter 11 bankruptcy...
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United Airlines said termination and replacement of all of its pension plans &quot;likely will be required&quot; for the company to exit bankruptcy and attract financing.
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The US agency that insures the pensions of 44 million workers said Thursday it will seize the retirement plans of United Airlines&#39; 14,000 active and retired pilots.
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CHICAGO - United Airlines&#39; workers are getting formal details on how the bankrupt company wants to replace their traditional pension with a 401(k)-style benefit plan - plus further steep reductions in pay and other benefits.
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Pilots at UAL Corp., parent of bankrupt  United Airlines, on Thursday overwhelmingly ratified a new  contract which will allow the airline to cut wages and get rid  of traditional pensions but will give the pilots future  financial concessions.
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Airlines and pilotsâ unions expect a review of a rule requiring pilots to retire at age 60, now that an international organization has raised the age to 65.
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Aug. 19 (Bloomberg) -- UAL Corp.&#39;s United Airlines, trying to attract financing to exit bankruptcy, said it probably will terminate and replace all its pension plans.
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United Airlines' creditors have joined the federal government in opposing a deal in which United would terminate its pilots' pension plan.
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The US pension insurance agency on Thursday asked a federal judge to let it assume responsibility for an underfunded pension plan for pilots at bankrupt United Airlines, arguing that it could help bolster the health of pensions for former and current
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The federal agency that insures pensions has asked a bankruptcy court to compel United Airlines to make over $800 million in pension contributions, officials said Monday.
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U.S. pension insurers on Wednesday  assumed control of underfunded retirement plans covering flight  attendants, machinists and other non-union workers at bankrupt  US Airways UAIRQ.OB, the government said.