The Pension Benefit Guaranty Corp. has settled a claim with retired US Airways pilots for $5.25 million.
The settlement derives from lump-sum retirement benefit payments the airline made to a group of pilots 18 years ago, in 1997.
Pilots who chose to take a lump-sum, or partial lump-sum payment, weren't paid until 45 days after the benefit commencement date, according to court documents. The total amount of affected lump sum payments exceeded $577 million.
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