Hawker, Salaried Retirees Reach Tentative Pension Agreement | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

AMA Drone Report

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday

Airborne-Thursday

Airborne-Friday

Airborne-Unmanned w/AUVSI

Airborne On ANN

AMA 07.13.17

Airborne 07.17.17

Airborne 07.18.17

Airborne 07.19.17

Airborne 07.13.17

Airborne 07.14.17

Airborne-Unmanned 07.18.17

Airborne-YouTube

AMA 07.13.17

Airborne 07.17.17

Airborne 07.18.17

Airborne 07.19.17

Airborne 07.13.17

Airborne 07.14.17

Airborne-Unmanned 07.18.17

XPONENTIAL Innovation Preview -- www.allthingsunmanned.com

Thu, Jan 24, 2013

Hawker, Salaried Retirees Reach Tentative Pension Agreement

Agreement Will Cover Shortfalls Following Emergence From Bankruptcy

Hawker Beechcraft has reached a deal with an ad hoc group of former employees who retired from salaried positions with the company to cover a shortfall in their pensions when the plan is taken over by the government's Pension Benefit Guaranty Corporation.

The company will set aside $250,000 over 10 years to cover the reduction in pension that will come from the government takeover. The deal affects about 70 of the planemaker's employees who would see their benefits reduced. The PBGC is limited to paying $56,000 per year for a 65-year-old retiree. The agreement reached this week specifies that employees who have not yet reached 65 will not be eligible to draw from the fund until they they reach that age.

The Wichita Eagle reports that the company will also cover the legal fees incurred by the retirees group, amounting to about $80,000.

While all the details are still being finalized, Hawker Beechcraft spokeswoman Nicole Alexander said the two parties have reached an "agreement in principle" which is subject to approval by the bankruptcy judge overseeing the case.

Hawker Beechcraft will reportedly send individual notices to the affected retirees, who had opposed the PBGC's takeover of the pension plan saying their benefits would be greatly reduced.

FMI: www.hawkerbeechcraft.com

Advertisement

More News

AMA Drone Report 07.13.17: Drones At AirVenture, CA Regs, Women and Drones

Also: Cal Fire Warns, AU Fines, New Florida Law, Aero-TV: FAA's Earl Lawrence THE world’s greatest aviation event is but a week and a half away. And for drone flyers; EAA Air>[...]

Airborne-Unmanned 07.18.17: Moon Express, DJI Drone Hacks, Airdog Sports-Drone

Also: Ride Sharing, Indago UAS, S Korean Tiltrotor UAV, Drone Simulators, Airborne-Unmanned This is SERIOUS Unmanned Vehicle technology! Moon Express, one of the competitors in the>[...]

Airborne 07.19.17: NEW Kitfox Speedster!!!, Rotax 4 Sonex, Trig TY96A/TY97A

Also: Flt 3407 Families, Zenith STOL, Brandon Expands, BAA Training, Delta Caves In, Sully Defends GA, Global 7000 Years ago, ANN Boss Jim Campbell remarked a that recent flight te>[...]

Third-Party Autopilot Support Available For The G5 Electronic Flight Instrument

Includes More Than A Dozen Popular Models Of Autopilots, Expansion Planned The G5 electronic flight instrument will soon be compatible with a wide range of third-party autopilots a>[...]

Airborne 07.18.17: CBO--Costly H.R. 2997, Moon Express, Wipaire Aids ADS-B

Also: No $ For Mars?, Aero-Calendar, American A/L's Demotions, Bristell, Redbird VTO, New T-Birds!, Argentinian Air Force The nation's Congressional Budget Office says that H.R. 29>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2017 Web Development & Design by Pauli Systems, LC