[Congressional Record (Bound Edition), Volume 152 (2006), Part 4] [Extensions of Remarks] [Page 4643] [From the U.S. Government Publishing Office, www.gpo.gov]MOTION TO INSTRUCT PENSION CONFEREES ______ HON. BETTY McCOLLUM of minnesota in the house of representatives Thursday, March 30, 2006 Ms. McCOLLUM of Minnesota. Mr. Speaker, we need common sense, bipartisan legislation to protect pension benefits and to honor the promise of pensions. I rise to support this motion to ensure the Senate provisions are included in the final Pension bill--especially the provision that ensures airlines like American, Continental, Delta, and Northwest are not forced to terminate pension plans. The Senate provision would provide the critical time needed to fund pension plans promised to employees. No such provision exists in the House bill. Airlines were promised, in exchange for their support of the House Pension bill, that House leadership would work with them in conference to obtain the relief they wanted--though Republican leadership declined to include their provisions in the House bill. The Bush administration opposes the airline provisions. We must help airlines avoid the termination of their pension plans. Timing is of the essence. Two of the airlines that would benefit from this provision are currently in bankruptcy and could terminate their pension plans. And, two others could take advantage of this relief. In September 2005, Northwest Airlines filed for bankruptcy after losing more than $4 billion since 2001. Northwest's pension plans are underfunded by $3.8 billion. Without airline relief provisions, Northwest would be required to pay $3.3 billion in pension funding obligations by 2007 and would likely need to abandon and turn over its pension plans to the Pension Benefit Guaranty Corporation. In January 2006, the pilots union agreed with Northwest to freeze the pilot pension plan and replace it with a defined contribution plan. I support the decision made by Northwest and their pilots. Labor, employees, and airline management strongly support an airlines provision in the Pension bill. Keep the airlines flying and employees working. Support this motion. ____________________