Thursday, May 26, 2005

Please support the Employee Pension Preservation Act of 2005

Please consider signing this petition, which was forwarded to me by my father who is retired from the airlines. This act (Senate Bill 861) is supported by Northwest, Delta, Delta Retirees, and the pilot's union (ALPA). It will allow the airlines to stretch out the payments they make to their pension plan over a 25 period rather than a 5 year period. This will allow the airline to continue funding its pension plan rather than doing what United did, declare bankruptcy and toss their program over to the Pension Benefit Guaranty Fund (which, if companies keep doing this, will go belly-up any day now). If you would like some more details, here are some links. First, here is Delta's press release on the subject:

Delta Retirees Support Employee Pension Preservation Act of 2005

To read the text of the bill you can go to Thomas: /and search on S.861 (can't direct link to text at Thomas site for some reason.)

Here is a PDF "fact sheet summary" by the author of the bill (Johnny Isakson R-GA)

Anyway, ya'll, I know the bill is sponsored by a Republican but from what I can determine it's a good bill and the retirees and the pilot's union all support it so I am asking ya'll to support it as well. Honestly my worst nightmare is that my father's airline will do what United did and then I'm gonna wind up with my parents moving in to my spare room. (!)

So, if you support the bill, PLEASE SIGN THE PETITION! /

Thank you so much! Please forward to your email lists, also, if you agree.


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