2015 AMT Discussion

[Real tired]

What does Actuarial Value and Fair Value mean? 700UW.
 
The Actuarial Value of the IAM fund in 2012 was actually 108% while the Fair Value was 57.5% funded.

Thank you, the voice of reason.
 
Is it funded to 101%?  We really won't know until the annual funding notice for 2015 is released in the end of 2015.
 
For 2014, you can see in the chart:
 
http://mypension.iamnpf.org/media/77156/AFN_2014_plan_%20yr.pdf
 
The the difference between the actuarial value and the fair market value, doesn't really make it funded to 103%.  Does it?
 
For 2014,
Assets- 10.908
Liabilities- 10.922
 
Just remember, I need you more than you need me.  I need you to join my plan to ensure they don't cut my benefits in the future like they did to the Fleet Service people when the plan was in "endangered status" in 2009.
 
Please my dear American Airlines friends. Join me.  Resistance is futile.

 

[Buck]

Thank you, the voice of reason.
 
Is it funded to 101%?  We really won't know until the annual funding notice for 2015 is released in the end of 2015.
 
For 2014, you can see in the chart:
 
http://mypension.iamnpf.org/media/77156/AFN_2014_plan_%20yr.pdf
 
The the difference between the actuarial value and the fair market value, doesn't really make it funded to 103%.  Does it?
 
For 2014,
Assets- 10.908
Liabilities- 10.922
 
Just remember, I need you more than you need me.  I need you to join my plan to ensure they don't cut my benefits in the future like they did to the Fleet Service people when the plan was in "endangered status" in 2009.
 
Please my dear American Airlines friends. Join me.  Resistance is futile.

Listen I am not fighting you. Nor do I expect you to fight me. 
 
As for the actual percentage of funding, I do not know. However I do question the source of your document.
It is from the IAM and of course it is going to look good. The document I used is from Credit Suisse and is from 2012.
I still do not know what definitions of actuarial value and the fair market value are and how they are applied today or historically.
 
What do I get for joining your fund?
 
Beyond that I am expecting the Delta +3% , I would like an increase in my 401k matching to a more reasonable percentage equal to my peers in the industry.
 
What does it mean to join you?
 
Are you after my Frozen Pension here at American Airlines ( which is not part of any union )?
 
Will you vote to give me 31+ years of vesting in your fund with a stipend to make it worth it's weight in IAM gold?
 
Why should I risk any of my money in a risky "Snake Oil" scheme?
 
Can you guarantee,that if I help fund your pension you will not share it will any other work group or profession
or ultimately Train, Bus or any other members of the IAM, including the members at the Internationals of both unions or Association ?

 

[Buck]

The DOL and Independent auditors are the ones who decide to bring charges.

Have you eve been through a DOL audit?

I have in the past when I was RS of one of the largest locals at US.

And....
 
What has that to do anything?
 
Why would you need to be audited by DOL?
 
Did they suspect you of fraud as I do when you want me in your IAMPF.

 

[MetalMover]

The DOL and Independent auditors are the ones who decide to bring charges.

Have you eve been through a DOL audit?

I have in the past when I was RS of one of the largest locals at US.

Wow, you are a real life Forest Gump...You have been part of many a major event in the labor movement in US history.

 

[Roadking5560]

And here we sit, not appreciating the sacrifices he has made to improve the betterment of us all plus, if for some reason we forget these sacrifices, he will periodically remind us.

 

[Show me the money]

This is an AMT discussion, so a non AMT (you know who you are ) need to find a topic relevant to what ever you are. Everybody keeps replying to this guy who is just an irritant to our discussion. By passing him when ever he appears he becomes a non-factor. He might have time to go get his A&P and his opinion might actually matter.  For us I believe this ASSociation is going to run that POS IAMPF down our throats to pay their current retired members now and leave us holding the bag. There will no vote, we have the votes to tell them pack sand. This will be imposed on us and we will like it. We all know these two internationals have no use for what we want only to use us as an ATM for needed withdrawals.      

 

[700UW]

So how has taken things into your own hands?

For the past 50 years you and others have AMFA, and you all failed every time.

How has that worked out?

 

[1AA]

So how has taken things into your own hands?
For the past 50 years you and others have AMFA, and you all failed every time.
How has that worked out?

No where as bad as being represented by the likes of industrial unionism.

 

[700UW]

Ask the former NW, AS, ACA mechanics about that, or the best case is how AMFA refused to help the Trump Shuttle mechanics in their merger with US. AMFA abandoned them just like the did to the so ark mechanics.

Don't let history and the facts in your way.

 

[AMFAinMIAMI]

Ask the former NW, AS, ACA mechanics about that, or the best case is how AMFA refused to help the Trump Shuttle mechanics in their merger with US. AMFA abandoned them just like the did to the so ark mechanics.

Don't let history and the facts in your way.

 
Fact The IAM failed at NWA, & scabbed as well, Failed at UAL, TWA, USAir, Alaska, Continental so lets not let those fact's get  in your way...
 
The IAM is a scab union.
 
So how much help did the IAM give to all the workers under the IAM.. ZERO

 

[conehead777]

Ask the former NW, AS, ACA mechanics about that, or the best case is how AMFA refused to help the Trump Shuttle mechanics in their merger with US. AMFA abandoned them just like the did to the so ark mechanics.

Don't let history and the facts in your way.

While employed by Trump Shuttle, plaintiffs grew frustrated with IAM's representation.   Consequently, in 1990 they voted out IAM as their labor union and voted instead to be represented by the Aircraft Mechanics Fraternal Association (AMFA).   In 1992, as a result of Trump Shuttle's financial difficulties, a consortium of banks took control of the airline and renamed it Shuttle, Inc. (Shuttle).  Almost immediately thereafter, Shuttle entered into an agreement with USAir by which USAir would manage Shuttle's operations.   This agreement also provided USAir with an option to purchase Shuttle within five years.
 
In August 1992, the National Mediation Board (NMB) granted USAir “single carrier status” for the purposes of collective bargaining.   As a result, AMFA ceased to represent plaintiffs, and IAM, which represented the USAir mechanics, resumed its position as plaintiffs' collective bargaining representative.
---------------------------------------------------------------------------------------------------------------------------
AMFA did not abandoned them the NMB granted us air single carrier status.do not let the facts hit you in the face . i do not here to many southwest are Alaska airlines mechanics complaining. AMFA is doing it right. it seems the trump shuttle mechanics had enough of IAM . they voted AMFA in. your made up lies are getting old . just remember its easy to fact check you . 

 

[700UW]

Oh yes they did, the former trump mechanics hired lawyers and sued for seniority, go look it up.

It went to court as AMFA failed to represent them in seniority dispute.

AMFA represented them after Citibank took over the Trump Shuttle which in turn Citibank hired US to run it and then US purchased the Shuttle from Citibank.

Tell the whole story, not bits and pieces.

The lawsuit was heard in NY courts, they sued District 141.

Don't let the facts get in your way.

So why did they have to hire their own lawyers and sue if AMFA was helping them?

Were you there? I was.

 

[ThirdSeatHero]

Oh yes they did, the former trump mechanics hired lawyers and sued for seniority, go look it up.

It went to court as AMFA failed to represent them in seniority dispute.

AMFA represented them after Citibank took over the Trump Shuttle which in turn Citibank hired US to run it and then US purchased the Shuttle from Citibank.

Tell the whole story, not bits and pieces.

The lawsuit was heard in NY courts, they sued District 141.

Don't let the facts get in your way.

So why did they have to hire their own lawyers and sue if AMFA was helping them?

Were you there? I was.

 
You have the gall to chide someone with  ... Tell the whole story, not bits and pieces.... and then you turn around and in the very same post do exactly the same thing.
 
You can retract your post or I will prove you the LIAR that you are.
 
AMFA did indeed represent the Trump Mechanics. You - per your standard M.O.- aren't telling the whole truth.

 

[swamt]

No where as bad as being represented by the likes of industrial unionism.

BINGO!!!
AMFA is doing just fine at SWA and ALK. Still adding jobs, mechanics, shop work and more maint. being brought back in house.  Matter fact we were just told that in 2016 there will be new lines of maint added to Denver (Line Ron), in MKE (Line Ron), and adding more head count to LA, BWI, and OAK I think.  I believe the total set for 2016 will be about 50-75 and will be done by Nov of 2016. Keep your eyes open on Southwest.com for the new positions being added. We are told they will all be filled by new hire mechanics. Good luck to all that apply...

 

[700UW]

Go look up the litigation, the mechanics had to hire their own lawyers and sue the IAM, as they wanted their EA seniority when they resigned from EA and went to work for TS.

As AMFA would not help them.

So you are the one lying.

http://www.leagle.com/decision/2004647378F3d269_1625/RAMEY%20v.%20DISTRICT%20141,%20INTERN.%20ASS'N%20OF%20MACHINISTS