In the aggregate, the plans' funding deficit hit $484 billion as of Dec. 31, 2011, up from $315 billion a year earlier and $229 billion as of Dec. 31, 2009.
Under the new rule finalized Dec. 21, cargo pilots are exempt from a sweeping overhaul of commercial airline pilot scheduling, where pilots would fly shorter shifts and be given longer rest periods, the FAA said in statement.Read More
For the first time in modern history, overall salaried labor costs next year at the Detroit 3 are expected to exceed those of all UAW-represented factory workers, says Sean McAlinden, chief economist for the Center for Automotive Research.Read More
The U.S. Department of Labor has authorized a $3. 5 million National Emergency Grant to provide re-employment and support services to some 850 workers laid off when Goodyear closed its Union City, Tennessee, plant in July 2011.
The proposal would see traditional pension benefits for all new city hires—excluding police—eliminated in favor of a 401(k)-style retirement plan. Read More
Federal agency says of the more than $2.7 billion that was paid out through June 30, 45.6 percent went to governmental entities while 36.6 percent went to commercial entities, such as self-funded private employers.Read More
The proposal would create a pension plan with elements of defined benefit and defined contribution plans and would also raise the retirement age for new state and local government employees to 67.Read More
Under the pact, the automaker's 48,000 hourly workers have traded the promise of generous pay and benefits for job security and compensation gains that are more closely tied to the automaker's health, profitability and quality advances.Read More
California Gov. Arnold Schwarzenegger has signed into law a bill that recognizes same-sex marriages entered into in other states.Read More