March 18, 2005

Just when you thought Social Security in trouble, consider pension plan woes

While the debate intensifies over the future of Social Security, another federal agency that many probably couldn?t even name is fighting a widening problem of endangered employee pension plans.
On March 11, the same day that Vincent Snowbarger, deputy executive director for the government?s Pension Benefit Guaranty Corp., visited Boulder to address a University of Colorado business school symposium, his agency took over responsibility for the pensions of more than 36,000 active and retired ground workers at United Airlines.

The action, the agency said, was necessary ?to protect the pension insurance fund against further losses.? According to the government, the ground…

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