Northwest applauds Congress pension plan

Northwest Airlines has applauded US Congress’
passage of pension reform legislation that will save the pension benefits of
73,000 current and former Northwest employees. The Pension
Protection Act was passed by the U.S. Senate tonight, and the U.S. House of
Representatives passed the legislation on July 28, 2006.  The bill will now proceed
to the White House
for the President’s signature.
  “On behalf
of the 73,000 participants in Northwest Airlines’ pension plans, and the
families that depend on them, we thank all of the members of the House and the
Senate that supported this important legislation,” said Doug Steenland,
president and chief executive officer. 
there have been many people involved in this effort, Northwest and its
employees would like to especially thank the broad, bi-partisan coalition of
legislators including Senator Trent Lott of Miss., Senate Finance Committee
Chairman Chuck Grassley of Iowa, Senate Finance Committee Ranking Member Max
Baucus of Mont., Senate Majority Leader Bill Frist of Tenn., Senate Minority
Leader Harry Reid of Nev., Health, Education, Labor and Pension (HELP)
Committee Chairman Mike Enzi of Wyo., Senate HELP Committee Ranking Member Ted
Kennedy of Mass., as well as Senators Norm Coleman of Minn., Jay Rockefeller of
W. Va., Debbie Stabenow of Mich., Byron Dorgan of N.D. and Johnny Isakson of
  “In the
U.S. House of Representatives, we would like to especially thank Ways and Means
Committee Chairman Bill Thomas of Calif., House Majority Leader John Boehner of
Ohio, as well as Representatives Dave Camp, Vern Ehlers, Pete Hoekstra, Fred
Upton and John Dingell of Mich., and John Kline, Jim Oberstar, Mark Kennedy,
Jim Ramstad and Betty McCollum of Minn.”
  Northwest and
its unions negotiated pension plan freezes, which would also freeze the
liability for the Pension Benefit Guaranty Corporation (PBGC), leading to a
company-wide grass roots effort to support passage of legislation to save their
retirement benefits.  In addition to the
tens of thousands of letters, phone calls, e-mails and faxes that employees
sent, Northwest pilots, flight attendants and airport staff asked members of
Congress to support the legislation during Northwest flights and while they
were passing through airports.