FlyerTalk Forums - View Single Post - Civil Servant upgrades
View Single Post
Old Aug 24, 2005 | 8:51 am
  #30  
GUWonder
Suspended
 
Join Date: Jul 2001
Location: Watchlisted by the prejudiced, en route to purgatory
Programs: Just Say No to Fleecing and Blacklisting
Posts: 102,077
Originally Posted by Imperial Special
So what? Chapter 11 of the US Bankruptcy Code allows US Airlines to dump their pension plans - a clear state aid if ever there was one.
The Pension Benefit Guaranty Corporation (or whatever it is called) is not financed by general tax revenues. I believe that it is financed by insurance premiums from the sponsors of defined (contribution and/or) benefit plans, its own investment returns, and assets seized from companies defaulting on such plans or payments.
GUWonder is offline