-
Recent Posts
- Greenhouse Gases – EPA Final Rule for Oil and Gas Sector
- Annals of Marketing – Audi Electric Mountain Bike
- Ford Maverick Pickups Recalled for Tail Light Failures
- The 2025 Genesis SUV – $57,700 to $79,300
- The April 2024 U.S. Jobs Report – is Stable Good?
- April 2024 US Vehicle Sales Drop Slightly
- Mercedes-Benz Q1 2024 Profit Drops 25% as Sales Slump
- Penske Automotive Group 2024 Q1 Earnings Drop
- Stellantis Q1 Revenues, Shipments Drop – Transition or Trend?
- NHTSA Makes Automatic Emergency Braking Mandatory
- National Labor Relations Board Certifies VW Chattanooga UAW
- NHTSA Investigation Opened on Ford Blue Cruise Fatalities
- Ford Fund Now Ford Philanthropy
- Hyundai Expands Genesis Sudden Power Loss Recall
- Badass UAW Bargaining Committee Gets Record Daimler Deal
Recent Comments
- Dr. K. Venkatesh Prasad on Southern Labor Rights Boosted at VW. Daimler Next
- Janet L. Yellen on EPA Celebrates Inflation Reduction Act Anniversary
- Lael Brainard on Auto Industry Continues to Rebound from Pandemic Lows
- United Auto Workers Union on EPA Finalizes Vehicle Pollution Standards for 2027-32
- Sam Fiorani on Bidenomics and the State of the Union
Archives
Meta
Tag Archives: pension benefit guaranty corporation
PBGC Says American Airlines Workers Should Worry About Pensions and Medical Care – So Should Taxpayers
The Pension Benefit Guaranty Corporation has called out what it says is misleading statements to American Airlines employees by its management about their pension plans under a bankruptcy reorganization. “American Airlines is telling their workers and retirees not to worry, … Continue reading
Posted in aviation, economy, financial results, labor issues, news, news analysis, people, results, transportation
Tagged american airlines, amr, auto informed, auto news, autoinformed, autoinformed.com, automotive news, Ken Zino, pbgc, pension, pension benefit guaranty corporation, zino
Leave a comment
American Airlines Files for Bankruptcy – Pensions Threatened?
American Airlines has four traditional pension plans that cover almost 130,000 participants. As of today, the plans collectively had only about $8.3 billion in assets to cover about $18.5 billion in benefits, according to the Pension Benefit Guaranty Corporation. If American Airlines were to end their plans, the agency would be responsible for paying about $17 billion in benefits; about $1 billion in benefits would be lost. Continue reading
PBGC Sues Bendix for Pension Debt from Plant Closing
The action against German-owned Bendix is the first time PBGC has had to go to court to compel a company to cover pension obligations from a plant closing. Continue reading
Posted in auto news, economy, labor issues, litigation, news analysis
Tagged auto informed, auto news, autoinformed, autoinformed.com, automotive news, bendix, bendix commercial vehicle systems, bnedix frankfurt kentucky plant, Ken Zino, pbgc, pension benefit guaranty corporation, pension defaults, pensions, zino
Leave a comment
