2015 AMT Discussion

[ThirdSeatHero]

Canceled the vote?

Proof.

 
Give the exercise in semantics a rest - The IAM and the TWU petitioned the NMB to certify the association without a vote and you know it.

 

[ThirdSeatHero]

The IAMNPF is funded to 101%, explain how that is underfunded.

 
Easy - part of the WRERA allows pensions like the IAMPF to use a previous years status when a current year is underfunded or endangered. While I haven't monitored the IAMPF recently, I do know they utilized this in the 2008-2009 timeframe.
 
Thats one way 101% could be underfunded

 

[CMH_GSE]

The IAMNPF is funded to 101%, explain how that is underfunded.

 

And how much of a benefit cut did the members take to get the numbers back in the phony black?
I say phony black because it depends on who's criteria you use on whether it's fully funded or not.

 

What does Actuarial Value and Fair Value mean?

Don't hold your breath waiting for an answer here, all you need to know is the the IAMNPF is the best thing ever, just ask 700, he'll tell you it's funded 101% according to the IAM.

 

[Roadking5560]

I still can't believe how ate up this guy is for the beloved IAMNPF.  He's one of those people that would try to argue with you in the morning that the sun is coming up.

 

[700UW]

You are the ones who are ate up with lies,and misinformation about the IAMNPF.

Where is your ire for the company that froze your pension which is $2 billion underfunded?

 

[700UW]

Funding levels are measured by ERISA standards.

 

[Traymark]

Funding levels are measured by ERISA standards.

And by all means, please detail those benefit cuts that were implemented to try and make it look more stable than it really is?

 

[700UW]

Been posted no mechanic had their IAMNPF benefit cut at PMUS.

Schedule A future accurals were cut for certain members in the plan, the ramp had future accurals reduced.

 

[MetalMover]

Been posted no mechanic had their IAMNPF benefit cut at PMUS.

Schedule A future accurals were cut for certain members in the plan, the ramp had future accurals reduced.

Man oh man, you defend the IAMPNF as if it were the holy grail.
You can tout all the great things about it all you want, but you better understand this very clearly......THE LEGACY AA TWU REPRESENTED MEMBERS DO NOT WANT IT!
And if this were forced into any TA, their is a very good chance it will be shot down over this issue alone.

 

[Rogallo]

Nah, Throw some money at us and it will pass with 50%+1.
 
You know it. I know it. The company knows it.
 
Mark my words. It's as good as done!
 
Oh, and the IAMNPF will be in it. You know, kinda like letting us vote for the Association!

 

[Traymark]

Man oh man, you defend the IAMPNF as if it were the holy grail.
You can tout all the great things about it all you want, but you better understand this very clearly......THE LEGACY AA TWU REPRESENTED MEMBERS DO NOT WANT IT!
And if this were forced into any TA, their is a very good chance it will be shot down over this issue alone.

Trust me Metal, it IS the Holy Grail to the IAM and btw, the TWU as well at the International level.
Both of those entities know how very important the amount of control over the membership they curry with everyone in the IAMNPF.

 

[MetalMover]

Nah, Throw some money at us and it will pass with 50%+1.
 
You know it. I know it. The company knows it.
 
Mark my words. It's as good as done!
 
Oh, and the IAMNPF will be in it. You know, kinda like letting us vote for the Association!

If it is OPTIONAL, I don't care. But if it is MANDATORY, then NO vote for me. This is bad for anyone with less than 10 years to go. I have a couple.

 

[MetalMover]

Trust me Metal, it IS the Holy Grail to the IAM and btw, the TWU as well at the International level.
Both of those entities know how very important the amount of control over the membership they curry with everyone in the IAMNPF.

So true.

 

[Overspeed]

Easy - part of the WRERA allows pensions like the IAMPF to use a previous years status when a current year is underfunded or endangered. While I haven't monitored the IAMPF recently, I do know they utilized this in the 2008-2009 timeframe.
 
Thats one way 101% could be underfunded

Agree. There have been many outside studies performed that state the multi-employer funds are in trouble. There is a recent congressional report that states that the PBGC may have far more exposure to the failure of these plans because when using a more accurate fair market value standard the IAMNPF is underfunded by almost half. Multi-employer plans are too risky for my liking. I would rather have a higher defined contribution and match. If the people in the IAMNPF want to keep it, let them. My concern is that will the IAM raise the company contribution to the plan at the expense of a higher match and contribution for the ones that want to stay 401k?

 

[Buck]

If it is OPTIONAL, I don't care. But if it is MANDATORY, then NO vote for me. This is bad for anyone with less than 10 years to go. I have a couple.

Optional? But what does it cost to have it in the agreement?
 
What was dropped, a mechanics increase?or a 401k matching percentage?