United Gets Approval on Pension Default Plan
A federal judge approves a plan to terminate struggling United Airlines' pension programs. The ruling clears the way for the largest pension default in history, releasing United from more than $3 billion in pension obligations over the next five years. The Pension Benefit Guaranty Corporation, a branch of the Department of Labor, will now assume control of retirement benefits for United's more than 100,000 employees.
Guest:
Bradley Belt, executive director, Pension Benefit Guaranty Corporation
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