NWA, Pilots Union Join Forces To Seek Pension Changes | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-05.06.24

Airborne-NextGen-05.07.24

Airborne-Unlimited-05.08.24 Airborne-FlightTraining-05.09.24

Airborne-Unlimited-05.10.24

Thu, Dec 13, 2007

NWA, Pilots Union Join Forces To Seek Pension Changes

Older Pilots Cry Foul

Northwest Airlines asked a federal judge this week to let the company adjust pension contributions, to allow more for younger pilots who suffered disproportionately from the company's post-bankruptcy shift to a 401K plan.

Northwest and the Air Line Pilots Association have agreed to the plan, but a group of older pilots is crying age discrimination, reports The Associated Press.

When Northwest froze pensions and started a 401K plan, its most experienced pilots had already maxed-out their pensions, but became eligible for the company's matching funds in their 401Ks at a high rate because their pay was high.

Meanwhile, newer pilots got pensions frozen with little invested, and got smaller contributions under the 401K... creating a wide gap.

Now, the company wants to boost its contributions to pilots with fewer years of make things more equitable. But the older pilots say that assumes they'll actually be paid their pensions, which could be cancelled at any time in a future bankruptcy.

Looking at recent airline history -- and a predicted steep downturn in airline fortunes for 2008 -- the concern certainly appears reasonable.

There's no word yet on when a decision in the case is forthcoming. The new 401K matching plan started December 1.

FMI: www.nwa.com, www.alpa.org

Advertisement

More News

Aero-News: Quote of the Day (05.09.24)

"Fly-by-wire flight, coupled with additional capability that are being integrated into ALFA, provide a great foundation for Bell to expand on its autonomous capabilities. This airc>[...]

ANN's Daily Aero-Term (05.09.24): Hold Procedure

Hold Procedure A predetermined maneuver which keeps aircraft within a specified airspace while awaiting further clearance from air traffic control. Also used during ground operatio>[...]

ANN's Daily Aero-Linx (05.09.24)

Aero Linx: B-21 Raider The B-21 Raider will be a dual-capable penetrating strike stealth bomber capable of delivering both conventional and nuclear munitions. The B-21 will form th>[...]

Airborne 05.03.24: Advanced Powerplant Solutions, PRA Runway Woes, Drone Racing

Also: Virgin Galactic, B-29 Doc to Allentown, Erickson Fire-Fighters Bought, FAA Reauthorization After dealing with a big letdown after the unexpected decision by Skyreach to disco>[...]

Airborne-NextGen 05.07.24: AI-Piloted F-16, AgEagle, 1st 2 WorldView Sats

Also: Skydio Chief, Uncle Sam Sues, Dash 7 magniX, OR UAS Accelerator US Secretary of the Air Force Frank Kendall was given a turn around the patch in the 'X-62A Variable In-flight>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC