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A frozen pension isn't necessarily a good thing. If you had low FAE or years of service it's not worth much. I don't see how that's "throwing in the face."
btw, pensions either meet the standard for distress termination or they don't. That standard is contained in the bankruptcy code and ERISA. There is no "saving" them through negotiation.
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.Originally Posted by slowplay
I think you misunderstand.A frozen pension isn't necessarily a good thing. If you had low FAE or years of service it's not worth much. I don't see how that's "throwing in the face."
btw, pensions either meet the standard for distress termination or they don't. That standard is contained in the bankruptcy code and ERISA. There is no "saving" them through negotiation.