filejw

FYI pensions are real property in a marriage and if one party decides to take his her share by this method there is not much anybody can say/do. When i first read this about a year ago i figured this would be the out come. In this day and age to let a company to decide what is a divorce not going to go too far . Hope the folks get their jobs back.

DWN3GRN

You can't fix stupid!

tomgoodman

They are allowed to choose where to invest the pension money, so they pick investments which project high returns (but are also subject to greater risk). In this way, they don't need to contribute as much cash each year as would be required if they bought safe, low-yielding bonds or T-bills (which they usually do for executive pensions). When the market eventually slumps, the pension is suddenly underfunded -- sometimes by a great amount.

ewrbasedpilot

These guys were no more having marital problems than the man in the moon. To say that they could ALL be experiencing the SAME thing is bordering on absurd. They tried to screw us, they got caught, and they need to go to jail. They are SCAM artists, period. Hopefully, they can get a job at YOUR company! That way you can appreciate what great employees they are. How'd you like that?

CAPTDOUG

i wonder how it is that guys like EWRBASEDPILOT thinks they have the right evaluate someones marriage and personal life? How do u get off or are u just one of those guys that love rumors and think they are fact? I wonder how much u know about ERISA and how that protects you and your rights. You need to get educated on the importance of ERISA and why it was established. One reason it was established to is protect emoloyees from company bullies.

poor pilot

Its as much a sham when management comes to the pilot group saying the need to cancel everyones retirement to save the company.

ewrbasedpilot

I was born, but not just yesterday as some on this forum seem to be. What, seriously, do you think the odds are that 7 or 8 FRIENDS ALL get a divorce at the SAME TIME, all are thinking the SAME THING about their lump sums, ALL get it at the SAME TIME, ALL EAGERLY give it to their EX spouses (must have been quite wonderful divorces, right?), and then ALL REUNITE at the SAME TIME is? I'd say I'd have a better chance of winning the Powerball Lottery 3 times in a row. It's stooges like these guys who make a mockery of ERISA, and then when it's REALLY needed, it won't be there to protect anyone. Sorry, but I don't believe their "divorce" crap for one minute, and neither does the pilots/FA's I fly with. I recently flew with an FO who's getting put through the wringer by the company because of what these shysters did....so how fair is that? It's creating a big mess for those who are getting a REAL (notice I said REAL, not SHAM) divorces now. I'll stand by my statement that these LOSERS deserve to be in jail. If what they did was so honorable, you must really love that CEO's can LEGALLY and RIGHTFULLY take all the money and run with it. Nice, eh? I am all for people having rights, but not for someone to THINK they're entitled to something long before they are, and then think they aren't hurting anyone in the process.

CAPTDOUG

Really? This is interesting. Where do u get your facts?

ClipperJet

If, in fact, they ACTUALLY went to the courthouse and were legally divorced, then I don't think anyone has much to complain about. It doesn't matter why they were divorced. There is nothing in the law that prevents a divorced couple from re-uniting. Now if they only CLAIMED to be divorced, without getting the paperwork signed by the judge, then they go to prison.

They found and exercized a loophole--much like some claim management finds and exercizes scope loopholes all the time.

I'd be more worried about a Contempt of Court citiation. I'll bet that, during their divorce proceedings, the judge asked them point blank something like, "Is there any chance of this marriage being reconciled?" to which they probably answered, "No." (Which wasn't "the whole truth" as they were sworn to.) That might be perjury, or at least contempt. I don't know too many judges that like being lied to in their courtroom...

Avroman

Nice, companies can get sham bankruptcy's to hose its employees. They use loopholes in union contracts to jerk them around. Just sounds like a little poo flinging back in thier direction using their own tactics against them. Not so fun on the other side, huh Continental?