Labor & Economic News Blog

Friday, August 04, 2006

Delta to Bush: Sign pension bill

Delta to Bush: Sign pension bill
Delta Air Lines' chief executive says passage of pension reform in Congress took a "herculean effort" that should enable the carrier to preserve its main pension plan. He also urged President Bush to sign the bill quickly. "With the legislation in place, Delta will be in a position to preserve its pension plan covering 91,000 active and retired ground and flight attendant employees, thereby preserving their hard-earned benefits and preventing the U.S. pension system from being burdened with additional plan liabilities," Delta CEO Gerald Grinstein said Friday in a statement. The Senate passed a pension reform bill late Thursday, following House approval last week. The bill toughens pension regulation overall but gives ailing airlines more time to fully fund their plans.

 



<< Blog Home

 

This page is powered by Blogger. Isn't yours?