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.

United Gets Approval on Pension Default Plan

United Gets Approval on Pension Default Plan

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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