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FOR IMMEDIATE RELEASE

March 27, 2006

PBGC Public Affairs

202-326-4343

PBGC Holds Denver Meeting for United Airlines Pilots

WASHINGTON-Pension Benefit Guaranty Corporation (PBGC) representatives will meet with workers and retirees covered by the United Airlines Pilots Fixed Benefit Retirement Income Plan to explain the federal pension program and answer questions.

PBGC took over the plan on October 26, 2005 and continued uninterrupted payment of benefits to retirees.  The plan covers more than 14,000 workers and retirees and is underfunded by $2.8 billion.  PBGC uses its assets to make up the shortfall and guarantees to pay benefits as promised by the plan up to the maximum allowed by law.

The meetings will be held as follows:

Location   
Date
Times
Type

Holiday Inn Denver Int’l Airport 
15500 East 40th Avenue 
Denver, CO 80239
(303) 371-9494

4/3/06


4/4/06

 10-11 a.m
7-8 p.m

10-11 a.m
7-8 p.m 		All Pilots
All Pilots

All Pilots
All Pilots
Anyone with questions should contact PBGC’s Customer Contact Center at 1-800-400-7242.  For TTY/TDD users, call the federal relay service at 711 and ask to be connected to 800-400-7242.  If you plan to attend the meeting and require an interpreter, please call the Customer Contact Center at the number above at least seven days before the meetings so that we can secure an interpreter in your area.

PBGC is a federal corporation created under the Employee Retirement Income Security Act of 1974.  It currently guarantees payment of basic pension benefits earned by 44 million American workers and retirees participating in over 30,000 private-sector defined benefit pension plans.  The agency receives no funds from general tax revenues.  Operations are financed largely by insurance premiums paid by companies that sponsor pension plans and investment returns. 

Editors Note:  The PBGC’s meetings for United Airlines participants are open to the news media. Advance registration is required.  Reporters should contact Casandra Smith at smith.casandra@pbgc.gov or 202-326-4343, ext. 3092.

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PBGC No. 06-33