Originally Posted by
Fly4hire
That's with the new BK laws post NWA/DAL if I'm not mistaken. Prior to that there was a lot more management discretion.
The termination laws didn't change. Only the funding requirements and what happens if a plan terminates while using airline relief funding changed.
You can't negotiate to save a pension Either it meets the standards for distress termination (business can't reorganize with the plan in place) or it doesn't. If your contract is in the way of that the court or management can use the bankruptcy process to abrogate it. Also, the insurance company (PBGC) has to agree, and they're the one that eats the loss.