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A day late and a dollar short. That's the conundrum Congress finds itself in as it rushes to complete pension reform before bankrupt carriers Delta and Northwest offload a combined $11.2 billion in liabilities on the already deficit-ridden Pension Benefit Guaranty Corp. A compromise bill would give the airlines 14 years to make up their pension shortfall, but many experts think both will go the route of their bankrupt rival UAL Corp., which dumped $6.6 billion in retirement liabilities on the PBGC.
October 03, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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