I don’t know about UAL. At Delta LTD is company funded and the fund is off the companies books administered by Harvey Watt. This means in the event of a Chapter 11 filing or liquidation the fund can’t be seized by Delta, creditors or the courts and payments continue even if Delta ceases to exit. Contractual requirements insure it’s always fully funded. When Delta filed chapter 11 there was a uptick in disability claims as pilots feared liquidation. The disability fund was in great shape. With Delta’s rebound many of those pilots had miracles happen and were cured!