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
76
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
MotivatingYourRetailSalesStaffinSlowTimesAlwaysgetinputfromyourstaffatthesemeetingsandhavesomefunwitha
DescribetheTypeofBusinessVentureWhentalksaboutentitybusinessplan,thefirstthingcomingintoconsiderationisto
ItispossibleforstudentstoobtainadvanceddegreesinEnglishwhileknowinglittleornothingabouttraditionalscholarlyme
TheAustrianmanufacturingindustryconsistsofafewlargeorganizations,manyofwhichoperateundergovernmentauspices.
Afterdinner,myfamilysat(around)underthegrapevine,(with)brightmoonaboveus(reflecting)inthewater,drinkingteaa
Overheadrailway,(whose)tracks(areelevatedoutof)thewayofsurfacetraffic,(mighthavebeen)(onepossiblesolutionto)
Theunpleasanttasteofthemedicineprescribedbyafamousdoctor______inhismouthforhours.
Thereasoninginthiseditorialissothatwecannotseehowanyonecanbedeceivedbyit.
Thisisa______table.
Themostwidespreadfallacyofallisthatcoldsarecausedbycold.Theyareactuallycausedbyvirusespassingonfromperson
随机试题
驾驶机动车在冰雪道路行驶时,最高速度不能超过多少?
下列哪种尿经加热后浑浊可消失
患者男,60岁。肺癌晚期,表现为极度消瘦,卧床,生活无法自理,由鼻饲管喂食,静脉营养,患者可能出现的下列问题中,发生可能性最大的是
请简述货物运输保险的索赔流程。
在我国的货币供应量层次中,通常所说的M0不包括()
信用的形式按债权人和债务人结合的特点分为()。
ABL基因位于9号染色体上,若发生图中甲图所示的现象会致白血病。ABL基因如果发生基因突变又会导致甲种基因遗传病(相关基因用D、d表示),其临床表现为先天性心脉动能障碍,或骨髓发育异常。图中乙图表示该遗传病的基因图。据甲图判断,导致白血病的变异类型是
我国公务员晋升领导职务的,应当按照有关规定实行()。
人是教育的产物。
局域网中某主机的IP地址为172.16.1.12/20,该局域网的子网掩码为(27)。
最新回复
(
0
)