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FOR IMMEDIATE RELEASE
February 08, 2006
PBGC Public Affairs, 202-326-4343
PBGC To Meet With United Airlines Pension Participants in Los Angeles
WASHINGTON-Pension Benefit Guaranty Corporation (PBGC) representatives will meet with workers and retirees covered by the Ground Employees’ Retirement Plan (Ground), the Flight Attendant Employees’ Retirement Plan (FA), and the Management, Administrative and Public Contact Defined Benefit Pension Plan (MAPC) to explain the federal pension program and answer questions.
PBGC took over the United plans in 2005 and continued uninterrupted payment of benefits to retirees. The plans cover more than 104,000 workers and retirees and are underfunded by about $7.4 billion. PBGC uses its assets to make up the shortfall and guarantees to pay benefits as promised by the plans up to the maximum allowed by law.
The meetings will be held as follows:
|
Meeting Locations |
Dates |
Times |
Plan Participants |
|---|---|---|---|
|
Los Angeles |
February 14, 2006 |
10:00 -11:00 a.m. |
FA, Ground |
| February 15, 2006 | 10:00 -11:00 a.m. 7:00 -8:00 p.m |
MAPC, Ground FA, Ground |
|
| February 16, 2006 | 10:00 -11:00 a.m. 7:00 -8:00 p.m. |
FA, Ground MAPC, Ground |
These meetings are intended only for participants in the United plans named above. Another series of meetings will be announced later for participants in the United Airlines Pilot Defined Benefit Pension Plan.
Anyone with questions should contact PBGC’s Customer Contact Center at 1-800-400-7242. For TTY/TDD users, call the federal
relay service at 711 and ask to be connected to 800-400-7242. If you plan to attend the meeting and require an interpreter,
please call the Customer Contact Center at the number above at least seven days before the meetings so that we can secure
an interpreter in your area.
PBGC is a federal corporation created under the Employee Retirement Income Security Act of 1974. It currently guarantees payment of basic pension benefits earned by 44 million American workers and retirees participating in over 30,000 private-sector defined benefit pension plans. The agency receives no funds from general tax revenues. Operations are financed largely by insurance premiums paid by companies that sponsor pension plans and investment returns.
Editors Note: The PBGC’s meetings for United Airlines participants are open to the news media. Advance registration is required. Reporters should contact Casandra Smith at smith.casandra@pbgc.gov or 202-326-4343, ext. 3092.
