Legislation to give US airlines more time to make payments to underfunded employee pension plans was proposed by US Sens. Johnny Isakson (R-Ga.) and John Rockefeller IV (D-W.Va.) earlier this week. The Employee Pension Preservation Act of 2005 would allow carriers to spread their deferred pension funding obligations over 25 years instead of the current four years. In return, unions would have to agree to freeze their benefits at the current level. The bill also limits the liability of the ...

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