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American Airlines Wants to Terminate Pension Plans

February 1, 2012
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The termination, if approved, would shift billions of dollars of promised but unfunded benefits to the Pension Benefit Guaranty Corp., resulting in the biggest loss ever for the agency.
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House Panel to Examine Financial Health of PBGC

February 1, 2012
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The House Education and Workforce Health, Employment, Labor and Pensions subcommittee hearing comes at a time when the PBGC has a record $26 billion deficit in its insurance programs that are used to pay benefits promised by financially struggling or failed employers whose pension plans the agency has taken over.
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Bloomberg Outlines Ambitious 2012 Agenda

January 12, 2012
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New York City Mayor Michael Bloomberg will push for a minimum-wage increase, a $20,000 salary hike for top teachers and the firing of lousy educators from failing schools.
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Funded Status of Pension Plans Falls for Second Year: Mercer

January 4, 2012
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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.
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UPS Pilots' Union Says FAA Fatigue Rule Threatens Public Safety

December 22, 2011
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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.
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Detroit 3 Salaried Labor Costs to Overtake UAW Hourly Costs, Researcher Says

November 30, 2011
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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.
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Labor Department Approves Grant for Goodyear Union City workers

November 9, 2011
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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.
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San Diego Public Employee Pension System Reform Going to Popular Vote in 2012

November 9, 2011
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The proposal would see traditional pension benefits for all new city hires—excluding police—eliminated in favor of a 401(k)-style retirement plan.
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