[2banana]

When the September 11 Victim Compensation Fund settled with Saracini, it subtracted the value of her husband's full United pension from her settlement, as its formula required. But Saracini won't get anything like a full pension because the shortfall in United's pension funds was so much greater than the company had disclosed. This wasn't clear until May, when the PBGC terminated United's pension funds and showed a $9.8 billion shortfall. United had been showing only a $6 billion shortfall.

I can't tell you how much of a haircut Saracini got on her 9/11 settlement—she declined to tell me, and the fund isn't allowed to disclose it. But trust me, it's major money. Had the 9/11 fund known how much the pensions of Saracini and other United employees' survivors would shrink, they would doubtless have gotten larger settlements. "I've lost my husband's pension twice," Saracini told me.

So she will only get 3.5 million instead of 4.2 million? I am sick of these families crying poor when they have received millions in charity and taxpayer monies...

[Wolfie]

There are people who are getting well and truly cranked by pension fund defaults, and they won't be getting millions from any victim compensation funds.

[R.W.Ratikal]

The recent cases where large companies who fail turn over their pension liabilities to taxpayers should be stopped.

Millions of people work for small businesses who offer no pensions. They must depend on Social Security or savings and investments for retirement. Why should they be forced to share their retirement savings with others.

You make a deal with your employer to work and in return you are to be paid, so much now, so much later. If the company goes under, the deal's off. You will receive no more present pay. Why should taxpayers, who had nothing to do with your agreement, now be forced to continue your future pay?

Democrats and other socialist are always whining about restoring "fairness." Here's a good place to start.

[drt1]

"So she will only get 3.5 million instead of 4.2 million? I am sick of these families crying poor when they have received millions in charity and taxpayer monies..."

Agree wholeheartedly but that doesn't change the fact that investors and pensioners are given one set of numbers while Insiders have the true story - And the insiders derive benefit from this information at the expense of everyone else. That is the point of this article.