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United Airlines' Pension Problem: Who, Ultimately, Is Going to Pay?
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******************************** United Airlines' Pension Problem: Who, Ultimately, Is Going to Pay? http://knowledge.wharton.upenn.edu/index.cfm?fa=viewfeature&id=1033 United Airlines' proposal to halt payments to its pension funds suggests serious problems for the nation's pension-guarantee system, according to Wharton faculty and pension experts. The troubled airline, which declared bankruptcy in December 2002, said in July that it would stop funding its pension plans while it struggles to restructure under bankruptcy protection. The question is, how many other companies will renege on their pension obligations? And if the pension system collapses, will taxpayers foot the bill, just as they did for the S&L crisis in 1989?
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