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 08.29.14 ** HD iPad-Friendly -- Airborne 08.29.14 **
** Airborne 08.27.14 ** HD iPad-Friendly -- Airborne 08.27.14 **
** Airborne 08.25.14 ** HD iPad-Friendly -- Airborne 08.25.14 **

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

Annual Oshkosh 2014 'Best/Worst Of' Award Selection Invites YOUR Participation!

YOU Can Contribute To The Annual List Compiled By The Staff and Readership of the ANN and Aero-TV! E-I-C Note: We're going to start naming names and dropping details THIS week--- t>[...]

Airborne 08.29.14: Google Drone!, Cessna's 10,000th, Bearhawk LODA

Also: Big Boeing Order, Napa Tower Quaked, Landsberg Retires, Galileo Falters Breaking News! Google has unveiled an exciting new UAV project, called Project Wing, which has been un>[...]

Aero-TV: The Tecnam Juggernaut -- SeaSky, P2008, P2010, Trainers, and Astore!

An Impressive Line-Up Continues To Make A Solid Impact On Sport Aviation ANN CEO and Editor-In-Chief, Jim Campbell seized the opportunity to talk with Phil Solomon, the CEO of Tecn>[...]

AD: Bombardier, Inc. Airplanes

AD NUMBER: 2014-17-04 PRODUCT: Certain Bombardier, Inc. Model CL-600-2B19 (Regional Jet Series 100 & 440) airplanes.>[...]

ANN's Daily Aero-Linx (09.02.14)

FAA General Aviation Airports Report Beginning in 2010, the FAA began a national review of the general aviation airports resulting in two reports, General Aviation Airports: A Nati>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

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