NASA to Top up USA Pension Fund with $547.9 Million

Shuttle's End Leaves NASA a Pension Bill, New York Times

"The nation's space agency plans to spend about half a billion dollars next year to replenish the pension fund of the contractor that has supplied thousands of workers to the space shuttle program.

The shuttle program accounts for a vast majority of the business of United Space Alliance, originally a joint venture of Boeing and Lockheed Martin. With the demise of the shuttle program, United Space Alliance will be left without a source of revenue to keep its pension plan afloat. So the company wants to terminate its family of pension plans, covering 11,000 workers and retirees, and continue as a smaller, nimbler concern to compete for other contracts."

Previously: NASA Facing $548 Million Payment To Cover USA Pension Fund Shortfall, Space News (April 1, 2011)

"The single biggest check NASA expects to write next year will go to United Space Alliance (USA) to cover a half-billion-dollar shortfall in the space shuttle contractor's pension fund."

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This page contains a single entry by Marc Boucher published on June 15, 2011 8:49 AM.

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