Bankruptcy Judge Stuart Bernstein reserved judgment on Thursday in a hearing regarding the future of Hawker Beechcraft’s three pension plans, the Wichita Eagle reported on Friday. A settlement has been reached with an ad hoc retiree committee of salaried employees, the company said. The small group opposed the Pension Benefit Guaranty Corp.’s takeover of its plan, saying their benefits would be substantially reduced if the judge approved the takeover. The ad hoc committee is made up of nine or 10 retirees, but the settlement covers about 70 former salaried employees whose benefits would be reduced under PBGC caps, the company said. Other groups of retirees’ monthly benefits would not be reduced by the change because their benefits fall below the caps.
