In fact, termination of pension plans are forcing many employees to work much longer than they had planned, until Social Security or benefits from the Pension Benefit Guaranty Corporation kick in at age 65.
(AP) Pension Agency Objects to Airline's Reorganization Plan The government agency that insures corporate pensions has objected to United Airlines' reorganization plan, saying in court documents that the carrier has changed a deal covering the termination of its pensions.
In the year-earlier period, Weyerhaeuser also took a big one-time charge -- for restructuring and the termination of a pension plan -- and recorded a big gain for timberlands sales and other actions.
[C12.] U.S. Opposes United Pension Deal The government is opposing a deal between United Airlines and its pilots' union on the termination of the pilots' pension plan.
But the numbers offer a rough sense of how the termination of any one pension plan might affect United's finances and workers' benefits.
C1 More Troubles for Airlines Pilots at Northwest Airlines voted to approve $265 million in concessions, a day after United Airlines said that it would seek another $2 billion in cost cuts and the termination of its employee pension plans.
United also said that it was "likely" to ask for the termination of its traditional employee pension plans, which it has said it wants to replace with 401(k) programs.
United also repeated that it was "likely" to ask for the termination of its traditional employee pension plans, which it has said it wants to replace with 401(k) programs.
Predictably, this all led to bankruptcy, in 2006, and the company's dissolution was accompanied, Wayland-Smith writes, by the termination of one of its workers' pension plans.
As I understand it, termination of the contract simply caps the pension at the point of termination.
