Update 3: United Aims to Replace Pension Plan
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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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CHICAGO Aug. 19, 2004  United Airlines warned that it likely will have to terminate its employee pension funds in order to secure the loans it needs to get out of bankruptcy a drastic step that would represent the largest pension default ever by a US ...
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ELK GROVE VILLAGE, Ill. The government&#39;s pension agency today has moved to assume responsibility for the pensions of United Airlines pilots.
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The union that represents pilots at United Airlines said Friday that it had struck a deal that would allow the airline to terminate the pilots' ailing pension plan.
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Chicago, IL, Aug. 19 (UPI) -- A spokesman for the International Association of Machinists says the union will fight if Chicago&#39;s United Airlines tries to terminate all its pension plans.
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United Airlines, trying to restructure after nearly two years in bankruptcy protection, told its unions last night that it wanted to terminate its four pension plans and seek additional
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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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WASHINGTON : Bankrupt United Airlines has agreed to appoint an independent party to manage its employee pension funds prior to September 15 in an agreement with the US Labor Department.
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United Airlines has said it will very likely terminate its four employee pension plans and replace them with less generous benefits. United said the drastic move was needed to attract the financing that would allow it to emerge from bankruptcy.
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: United Airlines has begun reaching out to potential lenders with its revamped business plan for financing to leave bankruptcy, the company said on Friday.
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The government&#39;s pension agency moved to assume responsibility Thursday for United Airlines pilots&#39; pensions, acknowledging as unfortunate but inevitable the carrier&#39;s elimination of defined-benefit plans for its employees.
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United Airlines&#39; union leaders huddled Friday to decide how to respond after the company signaled its intent to impose an additional $725 million in labor cuts and eliminate traditional pension plans.
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The pilots&#39; union for UAL&#39;s (otc: UALAQ - news - people ) United Airlines commenced a three-day-conference Monday. Representatives of the fliers are scrutinizing the bankrupt firm&#39;s proposal to further slash pay and benefits.
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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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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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UAL Corp.'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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US Airways (UAIRQ.OB:OTC BB - news - research) wants a federal judge to tear up contracts with three of its unions, reduce retiree health benefits and cancel its remaining defined-benefit pension plans.