American Airlines/US Airways Merger: Frequently Asked Question (12/19/2013)
Q. I work for US Airways. PBGC is responsible for my US Airways pension plan, and has told me that I cannot get an early retirement benefit while I still work for the company. But US Airways is merging with American Airlines. As of December 9, 2013, I will be working for the new company. Does that mean I can start getting my PBGC benefit while I continue to work?
A. No, you won't be able to get a PBGC early retirement benefit while you work for the new company. The rules under federal law don't allow active employees to get early retirement benefits if their employer is related to the company that sponsored their pension plan. Because the new company was formed by the merger of US Airways and American, it is legally related to the pension plan sponsor, US Airways. You will be able to get an early retirement benefit only when you stop working for the new company. However, once you reach your pension plan's normal retirement age, you can begin receiving your benefit even if you are still working for the new company.