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<blockquote data-quote="vantexan" data-source="post: 3514264" data-attributes="member: 24302"><p>Those are the rules. Not sure what the current limit is but it was $47k if I remember right. In other words if your pension was $47k or less you got all of that. Those who were getting more would only get $47k. Of course people who earned enough money to get a $75k pension usually had substantial assets anyways. The rules were primarily designed to protect the lower paid workers who depended heavily on their pension. There's no challenging it in court, that's the way it is. What you saw with American Airlines was well paid employees with serious pensions getting their pension reduced to whatever the limit was at the time. As for insolvency, the fund was threatened by the financial crash. But every company that has or had a traditional pension that it's still paying on is required to contribute annually to the fund to cover a company going under and the government having to cover their pension.</p></blockquote><p></p>
[QUOTE="vantexan, post: 3514264, member: 24302"] Those are the rules. Not sure what the current limit is but it was $47k if I remember right. In other words if your pension was $47k or less you got all of that. Those who were getting more would only get $47k. Of course people who earned enough money to get a $75k pension usually had substantial assets anyways. The rules were primarily designed to protect the lower paid workers who depended heavily on their pension. There's no challenging it in court, that's the way it is. What you saw with American Airlines was well paid employees with serious pensions getting their pension reduced to whatever the limit was at the time. As for insolvency, the fund was threatened by the financial crash. But every company that has or had a traditional pension that it's still paying on is required to contribute annually to the fund to cover a company going under and the government having to cover their pension. [/QUOTE]
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