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HR1171 |
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LRB093 23336 LCB 53314 r |
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| HOUSE RESOLUTION
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| WHEREAS, United Airlines has a rich history that goes back |
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| nearly 70 years; the company has provided many valuable |
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| services that have included: 1,600 daily departures, which |
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| service 66 million passengers annually; over 110 destinations |
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| worldwide in 26 different countries; and employment of 63,000 |
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| active employees and 58,000 retired employees; and
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| WHEREAS, United Airlines has been a major contributor to |
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| the pension plan of its employees; it contributed $725 million |
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| for 2004 and is estimated to owe $4.1 billion to pension plans |
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| by 2008; and
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| WHEREAS, United Airlines is threatening to stop the funding |
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| of its pension plans as part of its bankruptcy plan; already |
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| United Airlines has renegotiated an annual savings of $2.5 |
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| billion from a reduction of wages and benefits in its union |
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| contracts beginning in 2005; and the company has missed $72 |
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| million in pension contributions in the month of July 2004; and
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| WHEREAS, A default by United Airlines on its defined |
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| pension plan would be the largest pension failure in United |
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| States history and would severely impact a pension agency with |
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| a $9.7 billion deficit; therefore, be it
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| RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE |
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| NINETY-THIRD GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that |
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| the members of the House of Representatives urge United |
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| Airlines to continue to fund the company's defined benefit |
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| pension plan; and be it further
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| RESOLVED, That a suitable copy of this resolution be |
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| presented to the Board of Directors of United Airlines.
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