Nu,
I'm familiar with frozen pension plans; DL froze the non-contract employee pensions in 2005 but they still have one.
But, the NW pilots didn't have their DB plan terminated in BK and turned over the the PBGC, IIUC. This would make their situation VERY different and likely preferable to what happened to DL pilots. We'll never get our full earned pension. The damage ranges from relatively unaffected (those already long retired) to getting absolutely NOTHING from PBGC...and every point on the scale between.
We're suing PBGC to correct their errors but frankly, our chances are pretty slim. However, I'm in the game to the end or until I croak. Hard to tell which'll happen first ! The USAir pilots didn't prevail, so...
Any way, that's kinda off in the weeds to most of the world, I guess. :-)
Last edited by bafanguy; 4th May 2016 at 11:28.