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Replacement Pension with United?

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Source: AFA

Date: Jan 18, 2006

According to an AFA Press Release today, they reached a tentative agreement with United Airlines for a defined contribution pension plan. 

United flight attendants will vote on the replacement pension plan by the end of February.

Some details:

  • The agreement includes a 3% company match effective January 1, 2006 coupled with a 2% direct contribution effective on the same day, escalating to a 2.5% direct contribution effective January 1, 2007 and a 3% direct contribution effective January 1, 2008 - for a total of 6% defined contribution plan, double the amount of the company's original proposal. 
  • The agreement also includes $20 million in convertible notes and immediate vesting for all flight attendants currently employed by United. 

Full Press Release >

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