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The pensions at US arent frozen, they are terminated, frozen pensions dont get turned over to the PBGC.
A retirement plan to which no new contributions are being made. Previous contributions remain in employee accounts until distribution. A frozen plan must be maintained as long as funds remain.
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Once again, I lived it, a frozen pension does not get turned over to the PBGC, only pensions that are distressed terminated, and AA, the unions and the PBGC made an agreement that AA didnt terminate the pensions.
Yes they would have to go back into bankruptcy in order to terminate the pension, or the unions would have to agree to it.
I guess you dont understand a frozen pension.