A bankruptcy judge has decided to allow United Airlines to back out of playing to their worker's pension plans. <br>United Airlines pension plans are underfunded by 9.8 billion dollars.<br>The Pension Benefit Guaranty Corp will now take over the pension plans and the retired United employees will only get a percentage of the pension that United had promised them.<br>The PBGC had warned that United's pension default might tempt other big airlines to file for bankruptcy-court protection and jettison their own pension plans. <br>But the bankruptcy judge is going to let United Airlines walk away from their responsibility. <br><br>What now is to prevent any company from declaring bankruptcy to stop playing into their pension plans?<br>What about your company?<br>Who is going to help the PBGC pay these pensions? The American people, of course. <br><br>I just recently retired from the airline industry. <br>My pension is very small.<br>It is going to be a very big hardship if my pension check gets any smaller.<br>But in light of these developments I've got to believe my airline will declare bankruptcy in order to stop playing into it's pension plans also.<br><br><br><br><br><br><br><br>
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