Aircraft Mechanics Fraternal Association Asks DOL and PBGC to Conduct Forensic Audit of United Airlines Pension Plan
The PBGC and its plan termination insurance protect and assume the pension obligations of troubled companies. According to the Aircraft Mechanics Fraternal Association, forensic audits should be performed and the work of parties providing financial planning should be examined to determine if those parties were partially responsible for the plans’ demise.
The SEC has conducted and investigation into the pension consulting industry, which has determined that business alliances among pension consultants, banks, and money managers need to be monitored to avoid conflicts of interest.
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