The director of the Pension Benefit Guaranty Corporation, the United States fund that insures traditional pensions, told the Senate Commerce Committee in his testimony today that the longer term solvency of the Fund is at risk. The statement indicated that the airline industry?s pension problems are symptomatic of a broader problem, that companies in general are not keeping their pension funds properly funded.
See "U.S. pension agency may go bust", Reuters, CNN, October 6, 2004