Senate OKs Airline Pension Help | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

 

** Airborne 07.30.14/Oshkosh Day 3! ** HD iPad-Friendly Version--Airborne 07.30.14/Oshkosh Day 3 **
** Airborne 07.29.14/Oshkosh Day 2! ** HD iPad-Friendly Version--Airborne 07.29.14/Oshkosh Day 2 **
** Airborne 07.28.14/Oshkosh Day 1! ** HD iPad-Friendly Version--Airborne 07.28.14/Oshkosh Day 1 **

Fri, Nov 18, 2005

Senate OKs Airline Pension Help

Bill Faces Uphill Battle In House

By a 97-2 margin, the Senate Wednesday passed legislation to bolster the nation's troubled pension system, including special assistance for aiding airlines and retired pilots under 65.
 
An amendment to the Pension Stability and Transparency Act would give cash-strapped airlines the ability to stretch out payments to their underfunded pension plans over 20 years, according to the Atlanta Journal-Constitution. Such a grace period, it is hoped, would allow airlines to avoid cancelling their pension plans outright.

"We give hope for the employees to get their benefits," said Republican Sen. Johnny Isakson, who sponsored the airlines amendment which was passed on a voice vote. "Today was rewarding." 

The Senate also voted 58-41 to require full benefits for pilots forced by airline regs to retire at age 60, five years younger than the age for maximum pension insurance coverage.

The Senate pension bill now faces an uphill battle for approval in the House, however, which is considering its own pension-assistance bill. The House version does not include special provisions for airline employees.

The White House has also indicated it is opposed to the airline provision, according to media reports, although it supports the Senate version of the pension bill overall.

FMI: www.senate.gov

Advertisement

More News

ICON Aircraft Constructs And Flies First Production A5

ESN-1 Was Built From The Production Design, Tooling After years of waiting... and doubting... ICON Aircraft has unveiled what it says is the first production A5, an aircraft the co>[...]

Airborne 07.30.14: WomenVenture 2014, Skycraft Update, IMC Club Award

Also: AvNav EFB, Lockheed Martin, One Week Wonder Update, Pelton Intvw-Part3 It was hard to miss the energy, enthusiasm, and interest in aviation by hundreds of women celebrating a>[...]

EAA Holds Annual Meeting

Membership Feels Flight Path Still On The Center Line EAA held its annual membership meeting on Wednesday, at 08:30 on 30 July 2014 at Oshkosh, WI. in the Theater of the Woods. In >[...]

Historic OSH2014 Sponsor: Bendix-King by Honeywell

OSH2014 Sponsor: Bendix-King by Honeywell The history of the Bendix name runs parallel to the development of King Radio until the mid-1980s, when the Allied Corporation purchased B>[...]

Life-Saving OSH2014 Sponsor: BRS Parachutes

BRS Parachutes: Defining Aviation Safety It's a simple idea, really. A parachute which will, when deployed, turn what could be a very bad situation into one in which not only the o>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2014 Web Development & Design by Pauli Systems, LC