Judge Lets United Airlines Shed Pension Plans

United gets approval to shift pension plans
Decision clears way for biggest corporate-pension default ever

The Associated Press
Updated: 8:25 p.m. ET May 10, 2005

CHICAGO - A federal bankruptcy judge approved United Airlines’ plan to terminate its employees’ pension plans on Tuesday, clearing the way for the largest corporate-pension default in American history.
The ruling, which carries broad implications for U.S. airlines and their workers, shifts responsibility for United’s four defined-benefit plans to the government’s pension agency.


Yes, let old Uncle Sam pay the corporate obligations. Phooey!