Labor & Economic News Blog

Thursday, August 17, 2006

Bush signs pension bill backed by Delta

Bush signs pension bill backed by Delta
President Bush on Thursday signed new rules to prod companies into shoring up their pension plans and offered strong words for corporate America: "Set aside enough money now." But while the legislation toughens pension funding rules overall, it also gives Atlanta-based Delta Air Lines much more time than other companies to fully fund its main plan. Delta executives, who lobbied hard for the provision, say that should enable the carrier to keep the plan intact as its restructures in bankruptcy court. Delta's main plan covers 91,000 workers, retirees and dependents. A separate plan for pilots is being scuttled, and the airline says the pension bill won't change that.

 



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