United Airline Employee Retirement PlansA headline-making event today that will require HR involvement is United's decision Airline will most likely terminate all of its employee pension plans due to its bankruptcy and turn them over to the PBGC or Pension Benefit Guaranty Corporation. The PBGC is a federal agency that insures traditional pensions in case companies go bankrupt. Basically, that means United Airlines employee retirement plans could be cut by up to 75 percent. The decision to terminate United Airlines' pension plans is being touted as "creating the largest default in U.S. history and forcing a possible bailout" (The Christian Science Monitor, Alexandra Marks). This question is not exclusive to United Airlines workers but to all employees. who works for a company in financial difficulty. If United ends the pension plans, there are fears that other airlines currently suffering financial difficulties will be slow to follow suit. Due to globalization and competition from low-wage companies that do not offer company-paid retirement plans, responsibility for retirement security could shift from airlines to individual workers. The advice from Brad Belt, executive director of the PBGC, is: “It is up to individuals to be well informed, prudent about their investments and save accordingly. » Union members are angry because United Airlines went behind their backs and reached...