Lawmakers Oppose United Pension Deal
Friday June 24, 6:08 pm ET
Lawmakers Oppose Deal to Let United Airlines Hand Off Pension Responsibility to PBCG
WASHINGTON (AP) -- The House voted Friday to go on record against a deal that lets the Pension Benefit Guaranty Corporation take on United Airlines' employee-pension plans, including the company's $9.8 billion pension shortfall.
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United's deal with PBGC, which could mean pension cuts of 25 percent to 50 percent for more than 120,000 United workers and retirees, has drawn criticism from workers, unions and others, especially United's Flight Attendants.
The House voted 219-185, with 31 Republicans coming on board for the amendment introduced by Rep. George Miller of California, ranking Democrat House Education and Workforce Committee, Rep. Jan Schakowsky, D-Ill., and Rep. Joseph Crowley, D-N.Y.,
"The message here ... is that they ought to go back to the negotiating table," Miller said. "I believe this plan was improperly terminated and it was improperly given to the PBGC."
The airline maintains that the deal with PBGC is required to emerge from bankruptcy and supporters of the airline said that without the pension relief, 62,000 United employees could lose their jobs.
"It is inappropriate for the House to single out United and interfere now," United said in a statement released Friday.
The company maintained that the legislation "will have no immediate effect on United's restructuring."
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