Most Pensions Safe Despite Bankruptcy, AA Says

Law360, New York (January 23, 2012, 10:22 PM EST) -- American Airlines Inc. attempted to reassure employees that the bankruptcy of the airline's parent company AMR Corp. would not endanger their retirement savings in a letter Monday, saying most workers with vested benefits would not see reduced payments if pension plans are terminated.

Jeff Brundage, AA's senior vice president for human resources, said in the letter that more than 90 percent of participants whose pension benefits are vested would see no reduction in their pension benefits if pension plans were terminated, assuming payments began at a...
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