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What does it say about the pension issue. How much did US Air put on the taxpayers for voting to give up their pension? $2 Billion, $3 Billion and did they ever pay back the US government. I think no is the answer. So they never paid back the money and then they dump untold amount of money on the taxpayers. What a deal for us!
The quasi government PBGC took over the Pension Fund while the pension still had $1.7 Billion in it. This was at the absolute nadir of the stock market. Had the pension been left alone and just had normal company contributions it would most likely have returned to being fully funded. The PBGC has probably done pretty well with that $1.7 Billion and since they only have to pay out pennys on the dollar I'm guessing that the U.S. taxpayer has actually saved money because of the USAirways pension. You see, the PBGC also has other companies pensions that they are paying from, many nowhere near as well funded as the USAirways pension was. They could easily be using some of the $1.7 Billion plus to pay current obligations that they previously didn't have money for.
You might do a little more homework and ask ( or should I say ask, ask, and ask
) some questions before spouting off rubbish like you are here.
Typhoonpilot