A United Airlines Union Sues 3 Executives Over Pension Funding
The International Association of Machinists and Aerospace Workers, which represents more than 20,000 employees of Unites Airlines, has sued the company for halting contributions to the company's pension plans. The airline is currently in bankruptcy protection and the union fears that United may ultimately terminate its four employee pension funds, leaving billions of dollars in future pension obligations in the hands of the government's pension insurance program. United says that pensions are under review and that no long-term plans have been made.
See "A United Airlines Union Sues 3 Executives Over Pension Funding", The New York Times, July 29, 2004