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NateFamilyLaw, Family Law Attorney
Category: Family Law
Satisfied Customers: 10686
Experience:  I have worked with individuals regarding family law questions for 7 years
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My company (American Airlines) is filing chapter 11. I am already

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My company (American Airlines) is filing chapter 11. I am already retired and have been drawing retirement for 3 years, will this affect my retirement?
Submitted: 5 years ago.
Category: Family Law
Expert:  NateFamilyLaw replied 5 years ago.
Thank you for your question and welcome to

It is possible that the filing will affect retirees, as American Airlines has one of the highest paying pension programs in the industry. It is simply too early to tell what is going to happen on that front. If AA chooses to shed the pension plans, the Pension Benefit Guaranty Corp will take over the pension plans and annual benefits will be capped at $54,000.00.

Again, that has not yet been addressed. A good recent story on what the bankruptcy filing will mean for the pension plans is here

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