Braniff International Corp. v. Interfirst Bank, Dallas, N.A. (In Re Braniff Airways, Inc.)

Memorandum Opinion

JOHN FLOWERS, Bankruptcy Judge.

This is a case to establish the termination date for a qualified pension plan governed by the provisions of the Employee Retirement Income Security Act of 1974, (“ERI-SA”), 29 U.S.C. § 1001, et seq. The Pension Benefit Guaranty Corporation (PBGC) is central to ERISA’s theme of providing guaranteed levels of benefits to pension plan participants. Operating as a governmental-insurer it is funded by premiums paid by the plans it insures. Termination of pension plans is governed by Subtitle C of the statute which allows the plan administrator and…