The US Department of Labor’s Employee Benefits Security Administration (EBSA) will conduct sessions on May 5 and May 6 beginning at 9:30 a.m. The company has been seeking government approval to contribute shares of Pinnacle Airlines Corp. common stock instead of cash to its underfunded pension plans. According to a March filing with the US Securities and Exchange Commission, the company has already contributed 12.9% of Pinnacle stock or 1.9 million shares to the funds (See Northwest Completes Pension Stock Transfer ).
The St. Paul, Minnesota airline said its 2003 pension contributions are estimated to be $468 million. As of December 31, the plans were underfunded by about $3.1 billion, according to the regulatory filing.
The sessions will be in Room N3437A/B at 200 Constitution Avenue, NW, Washington, DC.