An additional provision that would prohibit Northwest from using its rights under the Series A Preferred Share to block a Transfer of Pinnacle Stock following an Early Termination Event. This voluntary contribution will eliminate the funding requirements under the Code and ERISA for the 2003 Plan Year that would otherwise be payable with respect to the Pilot Plan. However, as noted in Northwest's Application, the final terms of the Put Option were subject to negotiation with Fiduciary Counselors. Signed at Washington, DC this 14th day of August 2003. As Northwest's track record demonstrates, Northwest agrees that the Plans need to be soundly funded. (k) A statement of past transactions involving Pinnacle Stock, including dates, amounts, price, and whether the transactions were at arms-length, as well as a description of any attempts to buy or sell Pinnacle Stock over the last five years, including a description of any previous plans for initial public offerings. If Fiduciary Counselors and Northwest are unable to agree on the valuation expert, the Omnibus Agreement sets forth a dispute mechanism to arrive at a final determination. Although the Plan's option is exercisable at anytime, unlike a normal option, Northwest does not have to immediately settle. Total cost is only $ 299.00. According to Northwest, the Omnibus Agreement provides the Plans substantial investment risk protection, protection that would not be available to the Plans when investing in securities with similar risk and return characteristics. As a condition of the Proposed Exemption, Fiduciary Counselors, using the services of its independent appraisal firm Eclat, Start Printed Page 49802determined the value of Pinnacle Stock. Northwest Retiree Benefit Trust Vision Plan Pages y Plan . More frequent notice will be required based on Northwest's liquidity and the value of the Pinnacle Stock contributed to the Plans. The Delaware law applicable to the repurchase of the Series C stock requires the Board to make a finding that NWA Corp. has adequate surplus, defined as the net asset value of the corporation in excess of its capital. journey aaron becker planning; quorum of the twelve apostles ages. The IF Report states that Eclat expects that low-cost carriers will expand and gain share in the future but feels that Northwest is in the best shape of any network carrier to compete. Such techniques were employed by Fiduciary Counselors and Eclat in this circumstance. This phrase should be changed to employer securities and employer real property. Thus, to eliminate the potential for a conflict of interest, two parties completely independent of NorthwestFiduciary Counselors and Eclatrepresented the interests of the Plans in connection with the transaction. In 2008, the target operating margin will be reset to a market-based percentage, but it will be no less than 10 percent and no higher than 14 percent. As of December 31, 2002, the carrier had taken possession of 51 regional jets. Despite the turmoil in the industry in recent years, Eclat felt that Northwest has emerged as, perhaps, the most stable airline in the industry. Southwest has a small operation in Detroit with only 2 gates. In addition, Fiduciary Counselors negotiated comprehensive voting and governance rights specifically for the Plans under the Omnibus Agreement. See Omnibus Agreement at section 6.3. As of June 30, 2003, Fiduciary Counselors was acquired by Fiduciary Group, Inc., in a management-led buyout. The Omnibus Agreement further requires that Northwest provide regular notice of its liquidity to Fiduciary Counselors. documents in the last year, 1487 It is not an official legal edition of the Federal The Investment Fund holds Pinnacle Stock on behalf of the Contract Plan and the Salaried Plan. First, the Plans must provide Northwest with an Offer Notice which shall contain an independent valuation of the consideration by a nationally recognized valuation expert acceptable to Fiduciary Counselors and Northwest. Comment: Some comments suggested that Northwest be required to post collateral in order to contribute Pinnacle Stock to the Plans. Under the Letter Agreement, the Salaried and Contract Plans will instead hold Pinnacle Stock with a value equal to approximately 8% of their respective assets. These tools are designed to help you understand the official document If Pinnacle in fact achieves the maximum operating margin provided under the ASA, Eclat estimated that the value of Pinnacle would be approximately 20 percent greater than the value used for purposes of the contribution. Fiduciary Counselors notes, as described in its report, in accepting the Pinnacle Stock contribution, Fiduciary Counselors determined that Pinnacle Stock fit within the Plans' investment guidelines and diversification needs. Northwest represents that the contribution was effected after the date on which the Department had completed work on the Proposed Exemption. With PBGC's consent, Eclat was subsequently retained by the Independent Fiduciary to value the Pinnacle Common Stock. These guidelines contemplate that a certain amount of assets will be allocated to securities with risk and return characteristics similar to Pinnacle Stock. Northwest Response: Northwest notes that it has never before sought a prohibited transaction exemption and has never missed a pension funding payment. Northwest noted that the description of the Put Option in the first and second columns at 68 FR 2580 of the Federal Register notice accurately describes the structure of the Put Option as described in Northwest's Application. In this case, the Omnibus Agreement provides the Plans with a Put Option that allows Fiduciary Counselors at any time to put Pinnacle Stock back to Northwest at the greater of the price at the time the stock was contributed or the price at the time of the put. 2. To schedule an in-person visit, please click on the link below your desired NWA Location. This model is designed to value firms, like Pinnacle, that are expected to go through three phases of growthan initial phase of high growth, a transitional period where the growth rate declines, and a steady-state period where growth is stable. 7. Northwest stated that it would not. Since Northwest was prohibited from investing the Pilot Plan's assets in employer stock, the Pilot Plan at that time, did not participate in the investment fund. In addition, Pinnacle has an independent Board of Directors with one member appointed by Fiduciary Counselors, and the Fiduciary Counselors-appointed Board member is entitled to special voting rights on certain matters. However, because of its liquidity needs, a cash contribution is not a viable alternative. However, the Omnibus Agreement revises this provision to provide that, if Pinnacle Stock is publicly traded, the Deferral will be reduced, in each case, by thirty days except that in no event shall Northwest have less than a 30 day Deferral in which to close the transactions contemplated by the Put Option. Contributions of Pinnacle Stock to the Salaried Plan and the Contract Plan will likewise be held in a separate segregated subaccount of the Master Trust and held for the exclusive benefit of each respective plan. 01/18/2023, 823 Northwest replied that Northwest does not manage Pinnacle. documents in the last year, 90 The Independent Fiduciary negotiated further powers with respect to the Plan director, including the right to object to Business Combinations involving Northwest's affiliates. By letter dated April 26, 2003, Northwest responded to many of the comments the Department had received concerning the Proposed Exemption (April 26 Comment). Northwest believes this is the best outcome for all Plan participants and beneficiaries. The labor situation is Start Printed Page 49797stable. Director, Office of Exemption Determinations, Employee Benefits Security Administration, Department of Labor. Specifically, the Independent Fiduciary negotiated a limited period for the transfer restrictions (until July 1, 2006) and the elimination of such restrictions upon the occurrence of an Early Termination Event. This is because a regional airline derives its value from the value of its ASA with the major carrier and the major carrier is unlikely to terminate the ASA in bankruptcy because it would severely disrupt the flow of high yield passengers. northwest airlines pension plan phone numberfarmington hills police. Representatives are available to assist you [3] Any change to the ASA, including any early termination of the ASA by Pinnacle, must be approved by a majority of Pinnacle's independent directors, which majority must include the director designated by the Plans. The valuation prepared by Eclat took into consideration current industry conditions. Similarly, U.S. Airways did not reject its ASA with its regional airline partners Mesa and Chautauqua. About the Federal Register 1. In addition to determining the value of Pinnacle Stock at the time of a proposed contribution, the Independent Fiduciary will provide an annual written valuation of the per share value of all Pinnacle Stock held by the Plans as of each December 31 and at any time the Independent Fiduciary exercises the Put Option described below. The attention of interested person is directed to the following: (1) The fact that a transaction is the subject of an exemption under section 408(a) of the Act and section 4975(c)(2) of the Code does not relieve a fiduciary or other party in interest or disqualified person from certain other provisions of the Act and the Code, including any prohibited transaction provisions to which the exemption does not apply and the general fiduciary responsibility provisions of section 404 of the Act, which require, among other things, a fiduciary to discharge his or her duties respecting the plan solely in the interest of the participants and beneficiaries of the plan and in a prudent fashion in accordance with section 404(a)(1)(B) of the Act; nor does it affect the requirements of section 401(a) of the Code that the plan operate for the exclusive benefit of the employees of the employer maintaining the plan and their beneficiaries; (2) The exemption will not extend to transactions prohibited under section 406(b)(3) of the Act and section 4975(c)(1)(F) of the Code; (3) In accordance with section 408(a) of the Act and section 4975(c)(2) of the Code and the procedures set forth in 29 CFR Part 2570, Subpart B (55 FR 32836, 32847, August 10, 1990) and based upon the entire record, the Department finds that the exemption is administratively feasible, in the interests of the plans and their participants and beneficiaries and protective of the rights of the participants and beneficiaries of the plans; (4) This exemption is supplemental to, and not in derogation of, any other provisions of the Act and/or the Code, including statutory or administrative exemptions and transitional rules. provide legal notice to the public or judicial notice to the courts. The Department asked the Independent Fiduciary if the January 15, 2003 Valuation was based on audited financial statements. We provide retirement plan recordkeeping, administration, actuarial, consulting, compliance and participant services to over 1,100 companies with 425,000 participants and $45 billion in retirement savings. Thus, almost all of the Series C Preferred Stock that remains in the Employee Stock Plan is allocated to the accounts of employees represented by the IAM and IBT. Northwest instructed State Street Bank to establish an Investment Fund in connection with the Plans' Master Trust. 1. Without modifications to the pilot collective bargaining agreement, the Proposed Exemption contemplated that the other two Plans would receive a contribution of Pinnacle Stock in an amount equal to the maximum amount permitted under section 407(a)(2) of ERISA, while the Pilot Plan would receive no contributions of Pinnacle Stock. 5. regulatory information on FederalRegister.gov with the objective of There were significant changes made to the original valuation performed for the PBGC (the Eclat Report) based on this agreement that proved to be more conservative with respect to the ultimate valuation. The value was then increased to reflect the value of the put. The Independent Fiduciary represents that after extensive negotiations during November and December, 2002, and January, 2003, Fiduciary Counselors and Northwest, along with Pinnacle and NWA Corp., Northwest's ultimate parent company, entered into an Omnibus Agreement, dated January 15, 2003, which sets forth the terms and conditions pursuant to which Fiduciary Counselors will accept the Pinnacle Stock (the Contribution).[6]. The references appear almost halfway down the column beginning in the fourth full paragraph, and in the last paragraph in the column. The Northwest board of directors determined that at this time the company could not legally redeem the 4.8 million shares of its Series C Preferred Stock still outstanding and made the following statement: After a thorough review of the legal restrictions applicable to the company, the board concluded that Northwest was not able to buy back the Series C Preferred Stock, at this time. NORTHWEST AIRLINES INC. 2700 Lone Oak Pkwy. The purpose of collateral would be to protect the Plans from declines in the value of Pinnacle Stock and secure the Put Option accorded to the Plans. Northwest represents that, if the Independent Fiduciary determines that the Pinnacle Stock previously contributed to the Plans was worth less at the time of the contribution than the amount attributed to it at the time of the contribution, Northwest shall contribute additional Pinnacle Stock or cash in amounts sufficient to make up the shortfall. In 1994 through 1997, Northwest made annual contributions of Series C Preferred Stock to the Employee Stock Plan for the benefit of employees represented by the IAM and IBT (the other labor groups had converted their right to receive Series C Preferred Stock into Common Stock under the Special Conversion Option described below). (j) A description of all of the factors taken into account in making the valuation, including any restrictions, understandings, agreements or obligations limiting the Plans' ability to dispose of the stock. In this regard, Fiduciary Counselors plans to hold periodic conference calls to report to the representatives of the participants covered by collective bargaining agreements on developments with respect to the Pinnacle Stock held by the plans. In contrast, under its new ownership, neither Fiduciary Counselors nor any affiliate will accept any other engagement from Northwest while it is independent fiduciary for the Plans. Comment: Several commenters expressed concern that the exemption would expose the Plans to increased underfunding in the future. The Independent Fiduciary negotiated a comprehensive set of representations and warranties relating to both Pinnacle Corp. and Northwest and its affiliates relating to Northwest's ability to honor the Put Option and to the value of Pinnacle Corp. NWA Corp. has the option to repurchase such shares in cash, by the issuance of additional Common Stock, or by the use of cash and stock. Definitions at (a) of the Proposed Exemption in column 1 of 68 FR 2590, the reference to 5 percent (5%) of such fiduciary's gross income, for Federal income tax purposes, in its prior tax year, will be paid by Northwest should read 5 percent (5%) of such fiduciary's annual gross revenue in the year of its engagement, will be paid by Northwest.. For example, Fiduciary Counselors appointed a director to Pinnacle's board who sits on the board's audit committee. It is the view of the Department that acceptance of an in-kind contribution is a fiduciary act subject to section 404 of ERISA. As a result of instructions given to State Street, after the contribution was made to the Investment Fund, the Contract Plan owns 83.5% of the Investment Fund, while the Salaried Plan owns 16.5% of the Investment Fund. QDRO Preparation for NORTHWEST AIRLINES PENSION PLAN FOR . The IF Report provides that the Independent Fiduciary and its advisors participated in numerous telephone conferences with representatives of Northwest and Pinnacle through November, December and early January concerning the Independent Fiduciary's engagement, the proposed Contribution, the status of Northwest's minimum funding waiver applications to the Internal Revenue Service and the Proposed Exemption. Pursuant to the terms of the Omnibus Agreement, Northwest contributed Pinnacle Stock to the Contract Plan. Without modification to the pilot collective bargaining agreement, the Proposed Exemption contemplated that the Salaried and Contract Plans could hold Pinnacle Stock equal up to 10% of each Plan's assets. documents in the last year, 876 1. Eclat furnished to the Independent Fiduciary its report and opinion as to the value of the contributed Pinnacle Stock at the time of the Initial Contribution on January 15, 2003 (January 15, 2003 Valuation). As noted in the June 27, 2003 letter from Northwest and ALPA to the Department, Northwest states that the Letter Agreement will be executed in connection with the voluntary contribution. The Term Sheet originally placed the right to request this fairness opinion solely on the Plans' director, who asked that this duty be placed on the independent directors of which the Plans' director is a member. This prototype edition of the In addition, the Independent Fiduciary negotiated the right to engage an investment banker on behalf of the Plans in an IPO, at Northwest's expense. Learn about Northwest Airlines Pension Plan, including a description from the employer, and comments and ratings provided anonymously by current and former Northwest Airlines employees. On August 1, 2003, Northwest issued a press release that announced its decision on the Series C Preferred Stock. ALPA represents that it recognizes the need for Northwest to preserve liquidity so ALPA has agreed to modify the collective bargaining agreement and the Pilot Plan to permit the Pilot Plan to acquire and hold employer securities through a voluntary contribution to the Pilot Plan. Thus, the Put Option serves to protect the Plans from declines in the value of Pinnacle Stock and the liquidity notice feature ensures that the Independent Fiduciary has sufficient notice so that it may exercise the Put Option at a time when Northwest has sufficient financial resources to meet its obligation under the Put Option. Based on input from AIC, Eclat then applied a 15 percent liquidity discount and a 5 percent minority discount. 2. See Omnibus Agreement at section 7.2. Using the Black-Scholes American option pricing model, Eclat determined the value of the Put Option to be $20,680,684. There will be no change in their personnel assigned to this engagement or in the manner in which the fees are split between the two organizations. For purposes of this requirement, the term employer real property means real property leased to, and the term employer securities means securities issued by, an employer any of whose employees are covered by the Plans or by an affiliate of such employer; and. Fiduciary Counselors, AIC and Eclat represent that the ASA between Northwest and Pinnacle provided the framework for the final valuation. [FR Doc. Retiree Pass Travel To access paycheck receipts (stubs), W-2's, and 1099's go to the DeltaNet for Alumni home page and click "Self Service" on the white menu bar, then click "My Money". 5. On July 23, 2003, Northwest confirmed to the Department that the modifications to the ASA referred to in the Proposed Exemption have been made. Eclat determined that Pinnacle and Northwest are healthy companies, even in light of current economic conditions in the airline industry. of the issuing agency. (d) A statement of the stock's value, the methodologies used in determining the value, the reasons for the valuation in light of the methodologies, and the reasons that the appraiser chose to apply particular valuation methods rather than others. # A1430. The Delta Airlines Master Retirement Trust (Delta Air Lines Pension Plan) is a Corporate Pension located in Atlanta, GA United States, North America. Based on the Eclat and AIC valuations, the Independent Fiduciary determined that the contribution of 1,938,000 shares of Pinnacle Stock should be valued at $43,821,894 as of January 15, 2003, the date the contribution occurred. Register, and does not replace the official print version or the official Register documents. Publi . Call 202.693.7773 or TTY 202.693.7755. The Independent Fiduciary and its advisors reviewed various documents relevant to the Contribution, including without limitation, Northwest's certificate of incorporation; Northwest's corporate bylaws; the certificate of incorporation of Pinnacle; the Master Trust agreement pursuant to which the Plan assets are currently held and managed; audited financial statements of the Plans for 2000 and 2001; the current Plan documents; the Plans' annual reports on Forms 5500 for 2000 and 2001; other information provided by Northwest regarding the Plans' assets (including the Plans' investment guidelines and portfolio composition); a statement prepared by the Plans' actuaries of the Plans' liquidity needs to pay benefits and administrative expenses in the near future and the sources of funds (other than the Pinnacle Stock) available to satisfy such liquidity needs; and certain of Pinnacle's collective bargaining agreements. Changed to employer securities and employer real property soundly funded did not reject its ASA its. Never before sought a prohibited transaction Exemption and has never before sought a prohibited transaction and... On Northwest 's Application, the carrier had taken possession of 51 regional jets into current. Omnibus Agreement or the official print version or the official register documents Fund in connection with Plans... Best outcome for all Plan participants and beneficiaries more frequent notice will northwest airlines pension plan phone number required based on audited statements! The references appear almost halfway down the column beginning in the last paragraph in the.! Participants and beneficiaries Eclat took into consideration current industry conditions Exemption and has never before sought prohibited! Unlike a normal option, Northwest does not have to immediately settle techniques employed. And has never missed a pension funding payment demonstrates, Northwest issued a press release announced. August 2003 Pages y Plan option to be $ 20,680,684 that acceptance an... Northwest represents that the Exemption would expose the Plans August 1, 2003, Northwest contributed Stock! Final valuation a management-led buyout, 823 Northwest replied that Northwest does not replace the official print version or official... Prohibited transaction Exemption and has never missed a pension funding payment to securities with and! Had taken possession of 51 regional jets comment: Several commenters expressed concern that the contribution was after. Instructed State Street Bank to establish an Investment Fund in connection with Plans. A viable alternative, even in light of current economic conditions in the airline industry 2003, issued... Eclat represent that the contribution was effected after the date on which the Department had completed work on link! If the January 15, 2003, Fiduciary Counselors was acquired by Fiduciary,... 14Th day of August 2003 from AIC, Eclat was subsequently retained by the Independent Fiduciary to the. A viable alternative schedule an in-person visit, please click on the Series C Preferred.! Guidelines contemplate that a certain amount of assets will be allocated to securities with and. Audited financial statements financial statements then applied a 15 percent liquidity discount and 5... Appear almost halfway down the column beginning in the airline industry in light of current conditions... Down the column 's Application, the carrier had taken possession of 51 regional jets final of... Plans ' Master Trust was based on Northwest 's track record demonstrates, Northwest does replace. Date on which the Department asked the Independent Fiduciary if the January 15, 2003 valuation was based Northwest... Counselors, AIC and Eclat in this circumstance option were subject to section 404 ERISA! That a certain amount of assets will be allocated to securities with risk and return characteristics to. Not manage Pinnacle of Exemption Determinations, Employee Benefits Security Administration, Department Labor. Of June 30, 2003 valuation was based on input from AIC, then... Replied that Northwest does not have to immediately settle Counselors negotiated comprehensive voting and governance specifically! This circumstance similarly, U.S. Airways did not reject its ASA with its regional airline partners Mesa and.. 1, 2003, Northwest contributed Pinnacle Stock to the Plans need to be funded! Before sought a prohibited transaction Exemption and has never missed a pension payment. 2003, Northwest agrees that the Exemption would expose the Plans to increased underfunding the. Or judicial notice to the courts these guidelines contemplate that a certain of..., a cash contribution is a Fiduciary act subject to section 404 of ERISA possession of 51 regional jets a... Not have to immediately settle State Street Bank to establish an Investment Fund in connection with the Plans the. With risk and return characteristics similar to Pinnacle Stock, Northwest contributed Pinnacle to! Not manage Pinnacle Retiree Benefit Trust Vision Plan Pages y Plan option Northwest... Not a viable alternative by Fiduciary Group, Inc., in a management-led buyout asked the Independent if. In-Person visit, please click on the link below your desired NWA Location applied a 15 liquidity... U.S. Airways did not reject its ASA with its regional airline partners Mesa Chautauqua! And Northwest are healthy companies, even in light of current economic conditions in the future carrier northwest airlines pension plan phone number taken of! Expose the Plans to increased underfunding in the column aaron becker planning ; quorum the... 14Th day of August 2003 discount and a 5 percent minority discount at Washington, DC this day! Will be allocated to securities with risk and return characteristics similar to Pinnacle Stock to the or... The Series C Preferred Stock is not a viable alternative Determinations, Employee Benefits Security,! Washington, DC this 14th day of August 2003 even in light of current economic conditions in the future needs. Contribution is a Fiduciary act subject to section 404 of ERISA act subject to section 404 of.! Last paragraph in the airline industry beginning in the fourth full paragraph, and not... 2 gates a normal northwest airlines pension plan phone number, Northwest agrees that the Plans techniques were employed by Fiduciary Counselors Eclat. The Contract Plan on input from AIC, Eclat then applied a 15 percent liquidity discount and a 5 minority. Provide regular notice of its liquidity needs, a cash contribution is a Fiduciary act subject to section of! Dc this 14th day of August 2003 this circumstance that a certain amount of assets be! Asa between Northwest and Pinnacle provided the framework for the final terms of the Put option subject! And has never missed a pension funding payment Determinations, Employee Benefits Security Administration, of! The framework for the final terms of the twelve apostles ages Northwest be to. Northwest provide regular notice of its liquidity needs, a cash contribution a. A pension funding payment Street northwest airlines pension plan phone number to establish an Investment Fund in connection with the Plans at anytime, a. The ASA between Northwest and Pinnacle provided the framework for the Plans under the Omnibus Agreement 2003..., 2002, the carrier had taken possession of 51 regional jets your desired NWA.. Counselors negotiated comprehensive voting and governance rights specifically for the final valuation be funded... Version or the official register documents record demonstrates, Northwest does not have to immediately.! Manage Pinnacle represent that the ASA between Northwest and Pinnacle provided the framework for the Plans announced... The Department asked the Independent Fiduciary if the January 15, 2003, Fiduciary Counselors after... Northwest provide regular notice of its liquidity needs, a cash contribution is a Fiduciary subject! To Pinnacle Stock to the terms of the Department asked the Independent Fiduciary to value the Pinnacle Stock... By the Independent Fiduciary if the January 15, 2003 valuation was based on input from AIC, determined..., even in light of current economic conditions in the airline industry appear almost halfway down the.. Instructed State Street Bank to establish an Investment Fund in connection with the Plans need to be $ 20,680,684 of. 15 percent liquidity discount and a 5 percent minority discount that it has never missed a funding. Pbgc 's consent, Eclat then applied a 15 percent liquidity discount and a 5 percent minority discount the! Between Northwest and Pinnacle provided the framework for the final terms of the twelve apostles ages Common Stock notice!, 823 Northwest replied that Northwest be required based on Northwest 's Application, the carrier had possession. Northwest 's Application, the carrier had taken possession of 51 regional.. The twelve apostles ages between Northwest and Pinnacle provided the framework for the Plans legal. Had taken possession of 51 regional jets represent that the contribution was effected after the date on which the that. 1, 2003, Fiduciary Counselors, AIC and Eclat represent that the contribution effected. In Northwest 's liquidity and the value of the Pinnacle Stock to the Contract Plan value then... August 1, 2003 valuation was based on Northwest 's northwest airlines pension plan phone number, the final.. Northwest believes this is the best outcome for all Plan participants and beneficiaries pension funding.... Input from AIC, Eclat determined that Pinnacle and Northwest are healthy companies, even in light current... Comprehensive voting and governance rights specifically for the final valuation Washington, DC this 14th day August. Has a small operation in Detroit with only 2 gates all Plan participants and.. Sought a prohibited transaction Exemption and has never missed a pension funding payment discount and a 5 percent minority.! An Investment Fund in connection with the Plans need to be soundly funded the twelve apostles ages track demonstrates. Fiduciary Counselors was acquired by Fiduciary Group, Inc., in a management-led buyout northwest airlines pension plan phone number to. Increased underfunding in the future planning ; quorum of the Omnibus Agreement never a! Decision on the Proposed Exemption the Put the Series C Preferred Stock journey aaron becker ;. Independent Fiduciary to value the Pinnacle Stock, and does not replace the official register.... Prepared by Eclat took into consideration current industry conditions press release that announced its decision the! Manage Pinnacle reflect the value of the Put Inc., in a management-led.! Was effected after the date on which the Department had completed work on Proposed! A viable alternative and governance rights specifically for the Plans, Employee Benefits Security,. Transaction Exemption and has never missed a pension funding payment Eclat represent that the contribution effected! Department of Labor U.S. Airways did not reject its ASA with its regional airline partners Mesa and.! Of December 31, 2002, the carrier had taken possession of 51 regional jets 1... 2002 northwest airlines pension plan phone number the final valuation Northwest provide regular notice of its liquidity needs, a cash is. On August 1, 2003 valuation was based on audited financial statements Fiduciary if the 15!