Thats what the PBGC was saying during BK, a number the company did not agrre with. A number used to scare AA away from dumping the Pension on the PBGC and that number would have meant that the PBGC would have owned AA. The PBGC knew the whole thing was a farce and was threatening to expose and blow up the whole deal. Their strategy worked.700UW said:First of all why dont you actually post facts and not crap you make up?
Mechanic and Related at US never had their IAMNPF payouts reduced, that would be the ramp, they have been in the IAMNPF since 2003, and were on Schedule A rates, so for about 10 years of accruals will be at Schedule A and then after that they were on Schedule B.
If your pension was 85% funded, AA would not have frozen it. Why is AA going to Congress to get their payments stretched out to make the plan fully funded?
My defined benefit plan from PMUS was terminated and turned over to the PBGC, so it will never be reinstated.
I am not in the IAMNPF.
Right from the PBGC:
http://www.pbgc.gov/wr/other/pg/american-airlines-amr-pensions.html
So are you saying it three years AA paid $10.2 billion into the plans to make them fully funded?
Do you make this stuff up or does someone give you false information to post?