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PBGC to Pay Retirement Benefits for Hawker Beechcraft
Pension Benefit Guaranty Corporation [PBGC] 
Jan. 31, 2013 "[PBGC] will assume benefit payments for more than 9,500 workers and retirees from two of Hawker Beechcraft, Inc.'s pension plans. The settlement also includes $2.5 million to those salaried retirees whose benefits exceed those paid by PBGC under rules set by Congress.... [T]he bankruptcy court approved a settlement between Hawker Beechcraft and PBGC in which two plans covering salaried employees would be assumed by the agency. The third plan, with 8,300 participants, will be frozen and remain with the company." |
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