Just so everyone understands. THe way the PBGC calculates benefits greatly favors already retired older employees. I know quite a few retired Delta pilots i their 60's. They were surprised at how much they are getting. Most saw only a modest decline in monthly payments. Some as little as a few hundred dollars. The pilots most hurt in a pension termination were what has been referred to as deadzoners. Pilots 45 to 55 with a lot of years of service and a large accrued benefit. Most in that area will never see more then about 25 cents on the dollar from the PBGC yet they don't have enough time to rebuild a pension.