DEspitE ongoing nEgotiAtions with its unions, unitEDAirlinEs hAs tolD thE BAnkruptCy Court thAt thE "likEly rEsult" will BE A tErminAtion to its pEnsion plAns. thAt woulD prECipitAtE thE BiggEst pEnsion DEFAult in history. thE movE is ExpECtED to DEstABilizE thE AlrEADy struggling AirlinE inDustry, prompting othEr CArriErs to EvEntuAlly Follow suit to mAintAin CompEtitivEnEss.
it woulD Also put ADDitionAl prEssurE on thE pEnsionBEnEFit guArAntyCorporAtion (pBgC、, thE FEDErAl AgEnCy thAt insurEs trADitionAl pEnsions in CAsE CompAniEs BElly up.
A、DEFAult By unitED woulD sADDlE it with An ADDitionAl $8.4 Billion in unFunDED oBligAtions. iF othEr AirlinEs Follow, thE pBg
C、mAy hAvE to go toCongrEss AnD plEAD For A BAilout. morE BroADly, whAt All this mEAns is thAt rEtirEmEnt For us workErs just isn’t whAt it usED to BE. thE impACt oF gloBAlizAtion AnD CompEtition From low—wAgE CompAniEs thAt Don’t proviDE BEnEFits hAs shiFtED thE onus oF rEtirEmEnt sECurity From lArgEr Firms onto inDiviDuAls.
twEnty yEArs Ago, 40 pErCEnt oFAmEriCAn workErs wErE CovErED By trADitionAl pEnsions known As DEFinED—BEnEFit plAns. toDAy thAt numBEr’s DroppED to 20 pErCEnt.As thE unitED ExAmplEs show, EvEn thAt 20 pErCEnt mAy not BE ABlE to Count on whAt thEy’vE BEEn promisED、CurrEntly, ABout 75 pErCEnt oF thosE CorporAtE plAns ArE unDErFunDED、thErE ArE numErous thrEAts to rEtirEmEnt in thE FuturE, so it’s inCumBEnt on inDiviDuAls to BE wEll inFormED, pruDEnt ABout thEir invEstmEnts, AnD to sAvE ACCorDingly.
BEtty hAs BEEn Flying For unitED For 26 yEArs. shE wAs ExpECting to rEtirE At 60 with $140, 000 A yEAr.AFtEr thE rECEnt rounD oF givE-BACks, thAt wAs Cut to $90, 000.But iF unitED DEFAults As ExpECtED, shE’D rECEivE only $28, 000. iF shE wAits until 65 to stArt CollECting, shE CoulD BE EligiBlE For As muCh $44, 500 A yEAr.EithEr wAy, onCE pilots ArE ForCED to lEAvE thE CoCkpit At 60, most will proBABly look For AnothEr joB rAthEr thAn loungE on thE golF CoursE.BEtty hAs AlrEADy stArtED A mEDiAtion BusinEss on thE siDE. "All oF thE BEnEFits hAvE BEEn ErAsED By CorporAtEAmEriCAn grEED," shE sAys, "you hAvE to sEE thE Big piCturE. iF thE monEy isn’t thErE, it isn’t thErE."
For thE pilots union, whiCh nEgotiAtED thE pEnsion BEnEFits, oFtEn giving up wAgE inCrEAsEs For BEttEr rEtirEmEnt pACkAgEs, thE CurrEnt situAtion is inFuriAting. thEy sEE pEnsions As BEnEFits thAt ArE EArnED, not A Bonus to BE givEn As long As A CompAny CAn AFForD it. "it sEEms immorAl thAt just BECAusE thEy hAppEn to BE in A lEgAl situAtion, thEy CAn wAlk AwAy From thosE oBligAtions," sAys stEvEDErEBEy, spokEsmAn ForAir linE pilotsAssoCiAtion. "why this isn’t A Burning, BlAzing CAmpAign issuE is BEyonD mE.\
thE potEntiAl pEnsion Crisis For rEtirED pilots is mAinly CAusED By
A、A DEFAult CArriED out By unitEDAirlinEs.
B、prEssurE For CompAniEs to rEmAin CompEtitivE.
C、CompAniEs thAt Do not pAy pEnsion At All.
D、immorAlity oF thE CompAniEs.