* Government employees who are not covered under the BPOPF are covered under the unfunded pension plan
, which is financed from government revenues.
But one of LTD's most vocal critics said the district's outlook is dire given unfunded pension plan
liabilities and the cost to add the west Eugene EmX route.
Under a similar argument, such a hybrid plan might also be ineligible for the streamlined reporting and disclosure procedure available to an unfunded pension plan
primarily providing deferred compensation to the top hat group.
Credit rating agency Moody's has upgraded British Airway's bonds to Baa3, citing the improvement in the company's operating performance in spite of volatile earnings, and the beginning of the company's plan to reduce its significant unfunded pension plan
A "top-hat" plan is an unfunded pension plan
that benefits only "a select group of management or highly compensated employees." (30) Top-hat plans are exempt from ERISA's participation, vesting, and distribution rules, and minimum funding and fiduciary standards, including the requirement that plan assets must be held in trust.
This has left some states with seriously unfunded pension plans
and no good options to make catch-up payments.
At the start of 2006, according to The Wall Street Journal's Ian McDonald, the collective unfunded postretirement healthcare liability for Standard & Poor's (S & P) 500 firms was $321 billion, more than twice the unfunded pension plans
for these firms ("Health Benefits Ail as Pensions Heal," June 6, 2006).