Delta Air Lines Accelerates Employee Pension Funding

/PRNewswire/ -- Delta Air Lines (NYSE:DAL) today announced the addition of $558 million on an accelerated basis to four pension funds covering most of the airline's U.S.-based employees. With the accelerated contributions, Delta will complete its required contributions to these plans for 2010 approximately seven months ahead of schedule. Delta's pension funding is normally distributed throughout the year, with the majority of contributions added near the end of the year.

"Putting this money into our pension plans earlier means it will start working for employees sooner, by earning returns that add to the plan assets," said Mike Campbell, Delta's executive vice president - Human Resources. "Delta is committed to funding these plans, which provide an important part of the retirement benefit for many of our employees."

By the end of this month, Delta will have contributed $665 million to its traditional pension plans in the first four months of this year, in addition to $100 million that has been contributed to employees' defined contribution 401(k) plans. With another roughly $200 million scheduled to be contributed to 401(k) plans during the balance of the year, Delta is on track to contribute nearly $1 billion towards employees' retirement security in 2010.

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Deluxe Corporation Foundation Donates Funding to SCORE to Boost Small Business and Job Creation

Grant Supports Development of New Counseling Methodology for SCORE Mentors

SCORE “Counselors to America’s Small Business,” The SCORE Foundation and the Deluxe Corporation Foundation announce the development of a new program, the Deluxe/SCORE Counseling Methodology. The Deluxe Corporation Foundation will underwrite funding for the creation and implementation of this initiative. A Deluxe site manager will present a check at the SCORE National Leadership Conference in Salt Lake City on August 19, 2009.

Each year, about 6 million people attempt to start a business in the United States. Of those, about 25 percent fail in the first year, while about 50 percent fail after five years. Studies show that a person with five or more hours of business mentoring is more likely to start a business with greater economic impact in areas such as revenue and job creation.

SCORE and The SCORE Foundation will work with the Deluxe Corporation Foundation to develop a standard mentoring methodology that can significantly increase business survival rates and create new jobs. The program will provide specific training, templates and processes that SCORE mentors can use to help aspiring entrepreneurs start new businesses.

“Small businesses are the lifeblood of our economy,” said Lee Schram, president of the Deluxe Corporation Foundation. “Deluxe is committed to helping small business owners prosper so we are honored to partner with SCORE to provide their volunteers the latest in effective counseling tools and industry insight.”

All SCORE volunteers will be trained in the new methodology, which will feature homework for clients, follow-up guidelines and mentoring techniques. The methodology can be used for face-to-face mentoring, plus chat and video-based mentoring through services like Skype. In addition, SCORE will research and track client data, including:

Demographics
Social groups
Geographic area
Industry
Experience

Entrepreneurial resources used to support business creation and development
"SCORE is dedicated to helping more small businesses get started and stay in business,” says SCORE CEO Ken Yancey. “Through the generous contribution by the Deluxe Corporation Foundation, SCORE will prepare its volunteer experts to give entrepreneurs an excellent mentoring experience that leads to a path for success."
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