United - pension fund to cease?

[Few Cloudy]

It's a bit late but I think a saw a moving banner on CNN reporting that UAL was to "discontinue" the pilots'pension fund.

I hope I am wrong...

[GlueBall]

It's entirely conceivable that not only will the pension fund cease, but the mothership.

[seacue]

Even if UAL were to get out of its pension liabilities, the effect would only be 75% as bad as it sounds. BTW, USAirways got permission to drasticaly change its pensions just two days ago.

In the USA there is a government body named the Pension Benefit Guaranty Corporation which takes over the pension liabilities of terminated pension schemes.

http://www.pbgc.gov/

The problem is that some of the UAL people would get as little as 25% of the pension they were expecting.

[Few Cloudy]

My screw up boys - US it was... Sorry.