United Airline’s Employees Pension Plans Essays -- Economy Economics E

coupled Airlines Employees Pension PlansAn event in the headlines today that will require humane resource involvement is join Airlines decision to most likely terminate all of its employees pension plans due to bankruptcy and turn them everywhere to the PBGC or Pension Benefit Guaranty Corporation. The PBGC is a federal agency that insures traditional pensions in case companies go belly up. Basically what this amounts to is that United Airlines workers retirement plans could be cut by up to 75 percent. The decision to end the pension plans by United Airlines is stated as creating the biggest default in U.S. history and forcing a possible bailout (The Christian Science Monitor, Alexandra Marks).This issue is not exclusive to United Airlines workers but to any employee who works for a company suffering from financial troubles. If United goes through with ending the pension plans, it is feared that the other airlines currently suffering financial troubles will soon follow suit. Beca use of globalisation and competition from low-wage companies that do not offer company paid pension plans, the responsibility for retirement security may shift from the airlines to the individual workers to take manage of. Advice from Brad Belt, executive director of the PBGC is that Its incumbent on individuals to be well informed, prudent about their investments, and to save accordingly.Union members are angry because United Airlines went behind their backs and reached...