Um....No. That's some slim understanding you have there of the NWA pension.???? pray tell. I know nothing about this. At NWA we got a payout when the DB pension was cancelled, but that was from the company. Does the pbgc pay out as well? Is this a dal thing or does everyone get it????
tail
First, it was not cancelled, it was frozen. The plan still exists but former NWA pilots have not been accruing any additional benefits since it was frozen years ago. PBGC has nothing to do with it since the plan was not terminated, as the DAL pension was. One difference its that the DAL pilot can get his PBGC payments when he turns 60, even if he keeps flying for DAL. The NWA pilot cannot start drawing his frozen pension until he actually retires. Anyway, it's all DC plan going forward now.