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Lear70 said:Oh yeah, it's working great.
" tens of thousands of employees are without jobs, retirement benefits, or medical coverage well before Social Security and Medicare cut in, and what was that about capitalism at its finest? Only the fittest survive?"
I'll bet Alfred Kahn is still getting HIS retirement ckecks from Cornell University!
castle bravo said:Lear70 said:Oh yeah, it's working great.
" tens of thousands of employees are without jobs, retirement benefits, or medical coverage well before Social Security and Medicare cut in, and what was that about capitalism at its finest? Only the fittest survive?"
I'll bet Alfred Kahn is still getting HIS retirement ckecks from Cornell University!
Ummm... that's the entire point. If the PBGC goes belly-up, the Federal Government will HAVE to step in.JD2003 said:I will still get 70 percent of my United pension. Hopefully, when I retire, this will be enough to fill my gas tank.
Lear70 said:Ummm... that's the entire point. If the PBGC goes belly-up, the Federal Government will HAVE to step in.
IF the government doesn't step in and bail out the PBGC you WON'T get 70% of your United pension, you won't even get 20% of your United pension, you'll get a big giant goose-egg.
Incidentally, how do you figure you're getting 70% of what your pension would have been? The cap on PBGC pensions is usually around $40,000 a year - my dad should have made around $120,000 a year in retirement from US Airways and he's getting the max from the PBGC which is $40,000 a year or approximately 33%.
Publishers said:It is just something that will take longer but the short version is that if you decided you wanted to start an airline on the day of deregulation, you were in better shape than the companies already with airlines.