United Airlines Cleared to Shed Pension Plans - Yahoo! News: "Under federal pension law, the PBGC pays no more than $45,613 a year to a worker who retires at age 65; it's less for those retiring at an earlier age.
As a result, United's pilots are expected to take the greatest hit to their pension benefits. They commonly earn six-figure salaries while working, but under federal law they must retire at age 60. "
A fucking outrage. What is to be done about this incredible travesty on those very unlikely to have the time or the resources to shore up their retirement structure. A bad day for all American workers. Except the idiot repubs that buy into this boatload of shit.
Wednesday, May 11, 2005
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