Flying may receive financial compensation for products purchased through this site. Federal Register :: Northwest Airlines Pension Plan for Salaried Will ETFs Ever Break Into the Retirement Plan Space. A federal judge has denied dismissal of a lawsuit in which five former employees of Delta Air Lines allege Delta and its administrative committee improperly reduced their pension benefits from the Northwest Airlines Pension Plan for Contract Employees. least the amounts necessary to meet minimum funding requirements of ERISA. Cochran, for instance, hopes to soon begin tapping a $1.2 million lump sum that he got when he retired almost three years ago and put into an IRA account. The PBGC has a database of unclaimed. However, she found the committees interpretation violates the clear language of the plan by concluding that a settlement payment is the same as a payable workers compensation benefit. More than 2,300 pilots had retired since 2003, draining plan assets. That move caused Lewis' pension checks to drop to $1,700 a month, he said. Argentina Australia Belgi (Nederlands) Belgique (Franais) Brasil Delta angered some retirees by warning that it could take the PBGC "several years" to review the airline's estimates, and to send any questions to the airline in writing. With its clear post-war focus on Asia, Northwest Airlines adopted the brand name Northwest Orient as it continued introducing new Asia routes and adding capacity with new aircraft. Their pension was 60 percent of final average earnings (FAE). Dated 2009. Frozen pension plans can be re-activated if they are in compliance with. Weirton Steel (2004) [See Jobs With the Best Retirement Benefits .] Eagan, MN 55121-1534. I wrote a letter to Mr. Robert Kight, Vice President-Compensation, Benefits, and Delta, the second-biggest U.S. carrier, said it already has industry-leading retirement benefits, but wouldn't comment specifically on pensions.
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