Originally Posted by
Going In
Those airlines pensions were non-qualified plans. Funded primarily with company stock. Their stock tanked, the pension was under funded and broke. If Fedex goes "man down" our pension will be fully funded with no ties to the company.
$130 til I die.
Lots of alternative facts there.
A "qualified" plan does not mean it's a guaranteed plan.
The PBGC basically
only covers "qualified" plans. Like all the bankrupt PAX carrier's plans. The non qualified portions of their plans were not covered by the PBGC. The non qualified portions were fought out in bankruptcy court with creditors and parent airline.
I'm not trying to compare risks of PAX vs Cargo carriers pensions. I'm just trying to shed a little truth about "qualified plans".
I'm thinking that "$130 til you die" is setting the bar pretty low. Even for the PBGC.
