AMR Corporation, the parent of bankrupt American Airlines, has announced that it will only freeze three of the four employee pension plans — the ones for everybody except its pilots — instead of turning them over to the federal government. If the airline had turned them over to the government, the federal Pension Benefit Guaranty Corporation, would have borne losses of around $8 billion if it had to take on responsibility for the three pension plans. “It is great progress,” the pension agency’s director, Joshua Gotbaum, said in a statement. “Bankruptcy forces tough choices, but that doesn’t mean pensions must
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