Pension Agency Wary of UAL Deal
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United Airlines parent UAL Corp. and leaders of its pilots union have agreed on a deal under which the pilots will not oppose termination of their pension plan but will receive a $550 million note convertible
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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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ALEXANDRIA, Va.  - US Airways Group Inc. UAIR.O  told a bankruptcy court on Monday it would skip a $110 million  pension payment due Wednesday as it looks to slash costs and  avoid liquidation after filing for protection from its  creditors over the weekend.
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The longer-term solvency of the US agency that insures pensions is at risk, threatened by troubled airlines and other companies failing to fund their retirement plans, the agency&#39;s director said on Thursday.
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United Airlines is embroiled in disputes with unions and creditors as it nears a key deadline in its 25-month-old bankruptcy restructuring, running the risk of labor actions that could endanger its future.
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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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United Airlines' mechanics union yesterday rejected a new cost-cutting contract and threatened to strike if a bankruptcy judge nullifies its existing agreement.
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United Airlines hopes to complete a new business plan within two months, including a decision on whether to terminate its pension plans, the company told employees yesterday.
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Won&#39;t confirm reports of 6,000, or 10% of the airline&#39;s work force; may terminate pension plan. BRUSSELS, Belgium  - The head of UAL Corp.
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The US pension agency on Thursday said it would take over the retirement plans of pilots at bankrupt United Airlines, which are underfunded by $2.9 billion.
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CHICAGO The trustee firm representing employee pension funds at United Airlines wants the carrier to make up millions in skipped pension contributions before exiting bankruptcy.
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United Airlines will have its pension scheme for pilots underwritten by the  US agency created to protect worker's retirement rights.
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The pensions of 40,000 workers at Turner & Newall are in danger amid reports that its parent firm will not continue to fund the company's scheme.
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A judge said that a contract between United Airlines and its pilots' union forced other unions to join the pilots in letting United terminate their pension plans.
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WASHINGTON  - The US agency that insures corporate pension funds said it had reluctantly agreed to assume responsibility for bankrupt United Airlines&#39; underfunded pilots&#39; pension plan.
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CHICAGO - United Airlines would be within its rights to terminate its employee pension plans but hasn't yet decided to do so, an attorney for the carrier said Friday, as two unions urged a judge to block a financing plan they say is predicated on the airline halting fund contributions.    The hearing came a day after the release of court papers in which United warned it "likely" will have to end those pension funds in order to secure the loans it needs to get out of bankruptcy...
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UAL Corp.&#39;s United Airlines told a bankruptcy court Thursday it will likely scrap its employee pension plans, which drew more rebukes from its labor unions.