The Battalion. (College Station, Tex.) 1893-current, September 01, 1982, Image 5

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Battalion/Page 5
September 1, 1982
It’s a Doggie Day World
IT'5 GREfiT to e>z
6AC/C AT .school.
RjGAT Co/s!
John T. Groce
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SCIENCES
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Braniff cuts pension payments
i| 5 United Press International
FORT WORTH — Federal
lATIl >ankruptcy judge John Flowers
I s i:ui ;ave bankrupt BranifT Interna-
ional Airline permission Tues-
lay io reduce September pen-
iort payments to retired pilots
md executives.
InntifflLraniff is seeking to divest
tseli of pension liability for re-
rtineat ired pilots and executives as
veil as union plans for machin-
sts and Teamsters, and had
isked to cut September pay-
nents to keep from further de-
ileting pension funds,
ice Bui:, Though the pilot and execu-
her ^ ve letirement plans are receiv-
the(i ng more funding than the un-
on programs, Flowers said he
Jased his decision on financial
|^Hd of pension recipients.
^Braniff had asked Flowers’
permission to terminate the
rg-' ilans retroactive to May 12, the
rLsar- lay the airline stopped operat-
ngl and asked that the plans
vhich could reach $60 million
>e turned over to the Pension
1115 ' ienefit Guarantee Corp., which
U^nres federally backed pen
is wi! ion plans.
Meanwhile, Pension Benefit
guarantee Corp. officials have
" forced to allow rare hearings
vith Braniff retirees on the
er ' imposed termination of Bra-
y° r liffs pension liabilities.
:h part'
•k Pavife
spe
Greenblatt said the plans for re
tired managers and pilots may
have enough money m them to
allow purchase of annuity con
tracts from private insurance
ipa
machinist and Teamster plans
would likely be placed under the
agency which provides for a
maximum $1,380 monthly pay
ment.
U.S. District Judge Eldon
Mahon earlier denied a request
by retired Braniff pilot W.P.
McDonald to bar Flowers from
ruling on the pension cut re
quest.
ATA
FALL RUSH
A fraternity for all young men interested in more than just a college education.
RUSH SCH€DUL€:
• Sept. 1, UUednesdoy 8 p.m.
Crazy Hat Sj Tie
• Sept. 3, Friday 8 p.m.
Beach Party
• Sept. 8, UUednesdoy 6 p.m.-8:30 p.m.
Special invitation to freshman men and little sister candidates.
FR€€ B€€R GIRLS CNCOURRGCD
Located behind the Holl of Fame on
FM 2818
For more info, coll 779-7550
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