releases: http://www.brown.senate.gov/newsroom/press/release/brown-inhofe-legislation-benefiting-nearly-100000-american-airline-employees-heads-to-presidents-desk
Data license: MIT · Data source: dwillis/congress-press
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| http://www.brown.senate.gov/newsroom/press/release/brown-inhofe-legislation-benefiting-nearly-100000-american-airline-employees-heads-to-presidents-desk | Brown, Inhofe Legislation Benefiting Nearly 100,000 American Airline Employees Heads to President's Desk | 2014-12-14 | 2014 | 2014-12 | Democrat | House | OH | Sherrod Brown | B000944 | www.brown.senate.gov | legacy | Legislation Enables Employees to Roll Payouts from Bankruptcy Settlement into IRA Accounts Sunday, December 14, 2014 WASHINGTON, D.C. – Legislation sponsored by U.S. Sens. Sherrod Brown (D-OH) and James Inhofe (R-OK) that would enable nearly 100,000 American Airline employees who received lump sum settlements as part of the airline’s 2011 bankruptcy to roll those awards into individual retirement accounts (IRA) is headed to the President’s desk for signature. Without a legislative fix, nearly 10,000 Ohio workers would be ineligible for the same tax benefits on savings plans that workers at United, Delta, Northwest, and U.S. Airways received. “This is great news for the nearly 100,000 American Airlines employees who could have lost a significant portion of their retirement savings had action not been taken,” Brown said. “American Airlines employees should have the same deal as everyone else. This law ensures that. I thank Sen. Inhofe for his work on this important bill.” The Brown and Inhofe legislation would amend the Federal Aviation Administration (FAA) Modernization and Reform Act of 2012 to afford American Airline employees the same tax treatment provided to employees of other domestic airlines. Under the Act, only airline employees whose company declared bankruptcy prior to 2007 are eligible to roll up to 90 percent of their settlement into an IRA. ### Press Contact Meghan Dubyak/Ben Famous (202) 224-3978 | 1 | 2026-03-30T12:14:52Z | 2026-03-30T12:14:52Z |