Is a change in control coming?

[usa1]

WT, it would be great news for the US employees if AA would legally be the corporate structure and be considered managed by the AA chain of command even if Parker is the new CEO, because it would trigger a change in the way the PBGC would offer benefits to the former US employees. The former US employees could start the PBGC benefits at any time after age 55 and continue working for AA as well. While this doesn't sound like any great shakes it does provide a way to increase 401k funding to levels that would help of lot of employees to better fund retirement. In other words if your given lemmons, then make some lemmon aid.

If it were to be structured the other way then the former US employees could not take PBGC benefits until resigning or otherwise would have to wait until normal retirement age to "Double Dip". These are the rules that the PBGC and US agreed to when our pension plans were terminated.

LINK: http://www.airlinefo...a-and-the-pbgc/

[background=rgb(242, 242, 242)]jimntx, on 06 February 2012 - 03:59 PM, said:[/background]

[background=rgb(252, 252, 252)]No, what they are confusing is that the former TW f/as (possibly others as well) who were eligible for their PBGC-administered pension from [background=yellow]TWA[/background] were able to start drawing that pension while on furlough from AA, and continue to draw it even if they have been recalled. Two different companies. Two different pension plans. And, the paying company ([background=yellow]TWA[/background]) no longer exists.[/background]


If and when US Airways becomes American Airlines, US Air agents due PBGC benefits should be able to follow the path of former [background=yellow]TWA [/background]employees. Payments should kick in at age 55.