HR1171 LRB093 23336 LCB 53314 r

1
HOUSE RESOLUTION

 
2     WHEREAS, United Airlines has a rich history that goes back
3 nearly 70 years; the company has provided many valuable
4 services that have included: 1,600 daily departures, which
5 service 66 million passengers annually; over 110 destinations
6 worldwide in 26 different countries; and employment of 63,000
7 active employees and 58,000 retired employees; and
 
8     WHEREAS, United Airlines has been a major contributor to
9 the pension plan of its employees; it contributed $725 million
10 for 2004 and is estimated to owe $4.1 billion to pension plans
11 by 2008; and
 
12     WHEREAS, United Airlines is threatening to stop the funding
13 of its pension plans as part of its bankruptcy plan; already
14 United Airlines has renegotiated an annual savings of $2.5
15 billion from a reduction of wages and benefits in its union
16 contracts beginning in 2005; and the company has missed $72
17 million in pension contributions in the month of July 2004; and
 
18     WHEREAS, A default by United Airlines on its defined
19 pension plan would be the largest pension failure in United
20 States history and would severely impact a pension agency with
21 a $9.7 billion deficit; therefore, be it
 
22     RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE
23 NINETY-THIRD GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that
24 the members of the House of Representatives urge United
25 Airlines to continue to fund the company's defined benefit
26 pension plan; and be it further
 
27     RESOLVED, That a suitable copy of this resolution be
28 presented to the Board of Directors of United Airlines.