首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
Despite ongoing negotiations with its unions, United Airlines has told the bankruptcy court that the "likely result" will be a d
Despite ongoing negotiations with its unions, United Airlines has told the bankruptcy court that the "likely result" will be a d
admin
2011-05-29
81
问题
Despite ongoing negotiations with its unions, United Airlines has told the bankruptcy court that the "likely result" will be a decision to terminate all of its pension plans.
That would precipitate the biggest pension default in history, more than twice the size of the Bethlehem Steel Corporation default in 2002. The move is expected to destabilize the already struggling airline industry, prompting other old-line carriers like Delta to eventually follow suit to maintain competitiveness.
It would also put additional pressure on the Pension Benefit Guaranty Corporation (PBGC), the federal agency that insures traditional pensions in case companies go belly up. It’s already facing more than a $9 billion shortfall. A default by United would saddle it with an additional $ 8.4 billion in unfunded obligations. If other airlines follow, the PBGC may have to go to Congress and plead for a bailout that some experts say would be bigger than the Savings and Loan debacle of the 1980s.
More broadly, what all this means is that retirement for US workers just isn’t what it used to be. Forget the gold watch and reliable pension check after 30 years of service. The impact of globalization and competition from low-wage companies that don’t provide benefits has shifted the onus of retirement security from larger firms onto individuals.
Twenty years ago, 40 percent of American workers were covered by traditional pensions known as defined-benefit plans. Today that number’s dropped to 20 percent. As the Bethlehem Steel and United examples show, even that 20 percent may not be able to count on what they’ve been promised. Currently, about 75 percent of those corporate plazas are underfunded. "There are numerous threats to retirement in the future," says Brad Belt, executive director of the PBGC. "So it’s incumbent on individuals to be well informed, prudent about their investments, and to save accordingly."
To get a sense of the impact of the pension crisis on individuals, look at what United employees can expect. Pilots, who by law must retire at 60, could see their retirement income cut by 75 percent.
Betty, who asked that her name not be used, has been flying for United for 26 years. She was expecting to retire with $140,000 a year. After the recent round of give-backs, that was cut to $90,000. But if United defaults as expected, she’d receive only $28,000 from the PBGC. If she waits until 65 to start collecting, she could be eligible for as much $44,500 a year.
Either way, once pilots are forced to leave the cockpit at 60, most will probably look for another job rather than lounge on the golf course. Betty has already started a mediation business on the side. "All of the benefits that I’ d been promised during those 26 years have been erased by corporate American greed," she says. "And yet I can see the big picture. I’ve said for three years that our pensions are history. No matter how many promises, they make us, if the money isn’t there, it isn’t there."
For the pilots union, which negotiated the pension benefits over the years, often giving up wage increases for better retirement packages, the current situation is infuriating. They see pensions as benefits that are earned, like employee paychecks, not a bonus to be given as long as a company can afford it. "It seems immoral that just because they happen to be in a legal situation, they can walk away from those obligations, "says Steve Derebey, spokesman for Air Line Pilots Association." Why this isn’t a burning, blazing campaign issue is beyond me."
Why has the onus of retirement security been shifted from larger firms onto individuals? Pick an explanation.
选项
A、Corporate greed.
B、Immorality.
C、Corporate defined-benefit plans are underfunded.
D、To maintain corporate competitiveness.
答案
D
解析
目前美国企业员工退休制度正在发生变化,主要是由于经济全球化冲击,以及国内经济管制的放松导致竞争加剧,是各企业不得不采取措施加以对应,以维持竞争力,谋求发展。所以D项为正确答案
转载请注明原文地址:https://kaotiyun.com/show/yQ6O777K
0
考博英语
相关试题推荐
ReadthearticleaboutChinaandtheWTO.Foreachquestion23-28thatfollows,choosethecorrectanswer.Markoneletter(A,B
Lookatthegraphbelow.Itshowstheaveragesharepricesofthreecompanies-GrantInternational,HDCUnionandtheLindelGr
Noonecouldcomeupwithaneasysolutiontothegovernment’spredicament—labor______whichiscausedbythewars.
Thoughsometimestoolazytoworkashardashersisters,Lindahasamoreavidfondnessforthelimelight.
Ascientistinterestedinaddingtoourgeneralknowledgeaboutoxygenwouldprobablycallhisapproach______.
Thechiefeditorthoughthetooksomelibertieswiththeoriginalintranslation.Soitwasnecessarythathemakethe______su
The______ofgiftedchildrenintoacceleratedclasseswillstartnextweekaccordingtotheiracademicperformance.
Educatorsarenowrecommendingthatreasoningskills______intheclassroomsincerecenttestsindicatethatmanyteachersin
TheCanadianunionstendtostriveforwageparity,withtheircounterpartsintheUnitedStates.
Themostwidespreadfallacyofallisthatcoldsarecausedbycold.Theyareactuallycausedbyvirusespassingonfromperson
随机试题
Webelieve,however,thatsometwothousandmillionyearsago,anotherstarwandering(漫游)throughspace,happenedtocomene
循环系统对体温的调节主要通过改变下列哪一因素而实现
关于高温作业和中暑,错误的论述是
子宫颈癌宫旁浸润未达盆壁,按国际临床分期应属于下列哪项
患者,男,62岁,昨日因淋雨后出现高热,并伴有咳嗽,自行到药店购买抗感冒药。药师为其测量体温,口腔温度39.1℃。患者购买药师推荐的药品后,药师应交代的用药注意事项和患者教育不包括
在单缝夫琅禾费衍射实验中,若单缝两端处的光线到达屏幕上某点的光程差为δ=2.5λ(λ为入射单色光的波长),则此衍射方向上的波阵面可划分的半波带数量和屏上该点的衍射条纹情况是:
矿山通风机按其服务范围分类,不包括()。
在Word中打开文档的快捷健是()。
变压器不能用来变换()。
甲公司为上市公司,该公司内部审计部门20×4年年末在对其20×4年度财务报表进行内审时,对以下交易或事项的会计处理提出疑问。(1)1月8日,董事会决定自20×4年1月113起将公司位于城区的一幢已出租建筑物的后续计量方法由成本模式改为公允价值模式。该建筑
最新回复
(
0
)