AA

JakeE · Dec 1, 2011

i see american airlines filed for chapter 11, wonder what that does to my retirment

ben brown · Dec 1, 2011

if it like most company retirement they dump it and the government picks it up but you only get about a one third of what you were getting

Anonymous-0 · Dec 1, 2011

might crash and burn.

pat sublett · Dec 1, 2011

Got a son-in-law who is a managing director for AA. I am a little concerned.

BigMarv1085 · Dec 1, 2011

I work for Delta and we went through a bankruptcy. Our pension was a frozen and had to pay more for my insurance, at least the pension was not turned over to the pension guaranteed fund. I had aprroximatly $25000 in stock and after bankruptcy was sent a check for $400 dollars.

Mike (WA) · Dec 1, 2011

Unfunded pension liability is going to bust a lot of companies (and municipalities). Bankruptcy is about the only politically feasible way to get out from under huge pensions that were promised in more prosperous times, with little thought to how they would be paid.

In my own case, I was working for Farm Credit Services in '95, and there was a big push to convert everyone from "defined benefits" (pension, so much a month for life) to "defined contribution" (like a 401K- here's this years contribution, good luck). To do that, the company has to give you a lump sum equivalent of your pension, and I was shocked at how little they were proposing to give me. I said no thanks. I started drawing my pension at age 56, am now 63, and have already drawn more than my 401K would have been worth, even with income added back in. If I live to age 70, will have drawn twice as much.

Mike M · Dec 1, 2011

Going to be alot more doing it too since the current administration does not like anyone to make a profit.

The "occupy" crowd best go to picket the whitehouse and congress as that is where all the problems are made.

Anonymous-0 · Dec 1, 2011

Whew! For a second, I thought this post was about the other AA!

NEBeef · Dec 6, 2011

Occupying Wall Street is exactly the same thing as occupying the Whitehouse and Congress. This Congress and Administration, just like the last one, loves to see folks make money - as long as it's their already-wealthy buddies making the profit. If you're a member of the working middle class they see you as nothing but a cow to be milked...

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