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January 20, 2007
Government takes over US Airways pension plan for pilots
By Jonah2015
The government's pension protection program assumed control of US Airways pilots' underfunded pension plan, but only will fund about a fourth of the losses...about $600 million. "To prevent this from happening to other workers, pension plans need to be funded in a way that better protects the benefits participants have earned." My article, "A Direct Route to Social Security Reform" applies this approach to government pensions.
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The government's pension protection program assumed control of US Airways pilots' underfunded pension plan, but only will fund about a fourth of the losses...about $600 million. "To prevent this from happening to other workers, pension plans need to be funded in a way that better protects the benefits participants have earned." My article, "A Direct Route to Social Security Reform" applies this approach to government pensions.