US Airways Dumps Pensions on Government

I haven’t written anything about the whole airline pension situation (primarily because I know little-to-nothing about pensions).  But I do know that this is nonsense:  Beginning yesterday, US pension insurers took over US Airways’ underfunded pension funds for its flight attendants, machinists, and non-union workers.  The airline says it hopes to save up to $100 million per year by passing off the pensions to the government.  Yes, that means that you are helping to pay US Airways’ pensions.  When US Airways says that they have reconciled their costs and are ready to emerge from bankruptcy, remember that they did this by cutting wages by huge amounts and by dumping costs off to US taxpayers.

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