Originally Posted by
HalinTexas
Unfortunately the PBGC doesn't get to decide IF AMR keeps their pension plans. Secured creditor get first dibs, which unions and labor are not. The BK judge is the final arbiter and he'll most likely hand it off to the PBGC as in previous BK cases. See USAir and TWA BK in the early '00's. The PBGC disperses pensions based on a number of the things, but I believe about $48,000/yr is the maximum outlay.
Maximum Monthly Guarantee Tables
Has nothing to do with politics.
Sad, but true. Since the PBGC is already 25 billion or so upside down, the additions of AMR pensions will be a back breaker............for you, the taxpayer that is.
Expect a noticable additional skim from your future paychecks to pay for another corporation washing themselves of their self-made financial dirt.........dirt which could have been avoided, if they so choose.
Think of it as a yearly Christams present from the 1%.............for the rest of your working life.
