PBGC makes serious errors with UAL pensions
11-30-2011, 05:40 PM
#1
Retired
Thread Starter
Joined APC: Aug 2010
Position: Capt B777
Posts: 23
PBGC makes serious errors with UAL pensions
The PBGC's handling of defined benefit plans terminated by United Airlines in 2007 and 2008 was “seriously deficient,” according to a new report from the agency's inspector general.
http://www.pionline.com/article/2011...nited-airlines
US pension agency’s watchdog says it made serious errors in valuing United Airlines pensions - The Washington Post
http://www.pionline.com/article/2011...nited-airlines
US pension agency’s watchdog says it made serious errors in valuing United Airlines pensions - The Washington Post
12-03-2011, 07:09 AM
#2
Gets Weekends Off
Joined APC: Feb 2010
Position: A320/A319/B737 Sys Acft Maint Controller
Posts: 303
Im Wondering if that will affect the $550M UAL has to pay the PBGC this year and Next??
because of the profit plateau we hit?? They're Not going to be able to hide the profits like in the past where they just Lied about them Not Being there. Or used some arcane accounting principles (GAAP) where reporting was done from the second set of Cooked Books!
because of the profit plateau we hit?? They're Not going to be able to hide the profits like in the past where they just Lied about them Not Being there. Or used some arcane accounting principles (GAAP) where reporting was done from the second set of Cooked Books!
12-03-2011, 08:35 AM
#3
Gets Weekends Off
Joined APC: Jun 2008
Position: 737 CAPT
Posts: 1,900
Every little bit helps the retirees, but doesn't look like any windfall is coming from this.
United Airlines Retirees May Have Been Shorted - WSJ.com
United Airlines Retirees May Have Been Shorted - WSJ.com
The report by the Office of the Inspector General of the Pension Benefit Guaranty Corp., the agency that insures corporate pensions, said 4,400 United retirees could see their pension benefits increase by as much as $25 a month because of allegedly flawed valuations of the airline's pension assets.
PBGC officials said they are still determining the exact amount they may owe to United retirees, but they promised to cover any possible shortfalls, with interest. A re-evaluation of the assets showed that as many as 23,000 United pension-plan members could receive higher payments due to the flaws, according to the report.
PBGC officials said they are still determining the exact amount they may owe to United retirees, but they promised to cover any possible shortfalls, with interest. A re-evaluation of the assets showed that as many as 23,000 United pension-plan members could receive higher payments due to the flaws, according to the report.
07-30-2012, 09:54 AM
#6
Banned
Joined APC: Apr 2012
Posts: 216
07-30-2012, 01:36 PM
#8
Line Holder
Joined APC: Nov 2010
Posts: 81
Guys, guys
Take it easy.
I'm a retiree.
This was meant as a sarcastic remark. I just don't know how to use those
little faces you guys attach. I guess I'll have to be more careful.
Believe me the only people getting treated worse than the employees these days are the retirees.
Take it easy.
I'm a retiree.
This was meant as a sarcastic remark. I just don't know how to use those
little faces you guys attach. I guess I'll have to be more careful.
Believe me the only people getting treated worse than the employees these days are the retirees.
07-30-2012, 03:16 PM
#9
Gets Weekends Off
Joined APC: Nov 2008
Position: B-777 left
Posts: 1,415
Guys, guys
Take it easy.
I'm a retiree.
This was meant as a sarcastic remark. I just don't know how to use those
little faces you guys attach. I guess I'll have to be more careful.
Believe me the only people getting treated worse than the employees these days are the retirees.
Take it easy.
I'm a retiree.
This was meant as a sarcastic remark. I just don't know how to use those
little faces you guys attach. I guess I'll have to be more careful.
Believe me the only people getting treated worse than the employees these days are the retirees.
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