December 4, 2007 - In response to growing membership concerns of the impact the Pension Protection Act of 2006 (PPA) will have on the Continental Airlines Retirement Plan (CARP), Transportation General Vice President sent a letter to Continental CEO Larry Kellner seeking additional information.
“Several important issues have arisen as a result of the legislation,” said Roach. “Under PPA, pension plans that are funded between 60-80% may only provide reduced lump sum benefits to participants.”
Roach asked for details about CARP’s current and intended future funding levels and for Continental’s understanding of how PPA will affect the pension benefits of IAM-represented Flight Attendants. Kellner’s answers will be shared with IAM members. GVP Roach’s complete letter is available here.
