2015 AMT Discussion

[700UW]

That would be the TWU at AA who had an A, B and C scale.

 

[1AA]

The pension is 101% funded, its a multi-employer plan with numerous companies contributing to it for its employees.
 
Our pension was terminated in chapter 11 bankruptcy in 2005, the M&R at US got into the IAMNPF in 2008.
 
How well is your AA frozen pension when the pension for its TWU members is almost $2 billion underfunded?

My frozen pension has far less restrictions and the payout will be consistent without fear of future reductions. AA manages and keeps it funded with the profits it makes. I can collect and continue to work in any field of my choosing. I can designate a beneficiary if I pass away. None of this applies to the pyramid, scam IAMPF. Wait until guys start drawing from it in masses. Then there goes your well funded pension. We went through this hoop many times but you still insist it's better than our AA pension fund.

 

[700UW]

There are people drawing from it everyday.
 
You all dont seem to grasp the concept of the mutli-employer plan.
 
Learn to read and comprehend:
 


 

Fast Facts about the IAMNPF, National Pension Plan

• The IAM National Pension Fund is the 5th largest multiemployer pension fund in the United States.
• The Fund has approximately $10.9 billion in assets.
• The Fund has over 1,750 contributing employer locations.
• The Fund pays pension benefits to over 90,000 retirees and beneficiaries, providing them with retirement security.
• The Fund has over 100,000 active participants.

 
 

 

[TRAVIS]

That would be the TWU at AA who had an A, B and C scale.

Funny the job interview I went to the guys had United uniforms on with big IAM PATCHES.
Turned down that offer. Could not live in California on that wage with a Family.

 

[1AA]

There are people drawing from it everyday.
 
You all dont seem to grasp the concept of the mutli-employer plan.
 
Learn to read and comprehend:
 

And yet no one I spoke to on the AA side wants anything to do with the scam pyramid IAMPF. That speaks volumes over your copy and paste postings. Without extorting all those millions of dollars from potential victims at AA the fund will be in jeopardy in the future unless the IAMPF can hope that the IAM can get more union members. I'm a union guy but the way the unions have been behaving over the years I support Delta airlines move on the increase in pay to keep the IAM off the floor. Until unions start acting like unions and make the membership a priority over money unions will have a hard time convincing non union shops to join. We at AA feel like we are employees at will. Our company makes changes without any input from us, the unions make changes without a vote and the NMB decided what's best for us without a vote. I'd say we are more at will than non union Delta.

 

[Kev3188]

I'm with you 100%.

That said, none of that changes until we (Working Class America) make it change. We've been both asleep at the wheel and allowed ourselves to buy in to the anti labor messaging. Things like the Association are the result of that.

 

[Traymark]

There are people drawing from it everyday.
 
You all dont seem to grasp the concept of the mutli-employer plan.
 
Learn to read and comprehend:
 

Fast Facts about the IAMNPF, National Pension Plan

The Fund has approximately $10.9 billion in assets.

There are also over 10.9 Billion in LIABILITIES.
We've gone over this before, but we can continue.
Every time you try to paint the picture the IAM wants, I will help you with the whole picture.

The whole picture is, they are only able to call it 100% funded because they arbitrarily reduced benefits 40% to keep it in the black.
That will continue as members retire because they don't have any new members joining, or not nearly enough to fund it.

 

[700UW]

No mechanic and related had a cut.

Fleet's FUTURE accruals were reduced, nothing was cut in what they already vested.

 

[Traymark]

700,
Please verify.
They can cut benefits again, as much as they want to , at any time.

 

[ATD]

I do not want anything to do with the IAMNPF. all of the AA folks better wake up or you will be thrust into it. I want to be part of the International officers retirement account, or was it depleted by all that retired with the Jim little group.

 

[AMFAinMIAMI]

700,
Please verify.
They can cut benefits again, as much as they want to , at any time.

 
similar to the IBT's plan if the IAMNPF has companies withdraw from the plan it can reduce the amount of payout to each retired member to keep the plan solvent.
 
I do also think that if a company withdraws there is a penalty buy out.
 
You are also restricted what if any work you can do once drawing from the plan.

 

[700UW]

Who insures your 401k?

And do you know the man who designed the 401k has stated it wasn't designed to be your retirement.

You and others have let corporate America brainwash you to find your own retirement.

 

[AMFAinMIAMI]

Who insures your 401k?

And do you know the man who designed the 401k has stated it wasn't designed to be your retirement.

You and others have let corporate America brainwash you to find your own retirement.

 
over the yrs it fluctuates with the market depending on which place you put your money.
 
But my 401k can be drawn and placed into a fund which I decide and control my future pay outs without a boards restrictions and I can futher work without it being stopped or reduced to keep it solvent.
 
It is true that a defined pension plan is better but only if its a single company plan.

 

[700UW]

And you all are putting the cart before the horse, none of you not me know what the retirement will be in the JCBA.

 

[chilokie1]

700,
Please verify.
They can cut benefits again, as much as they want to , at any time.

The IAM Ponzi plan will always be able say it is 100% funded because it
has the ability to lower future accruals. It has zero assets!!!  AA is obligated
to maintain a fund that is capable of paying future payments that are frozen
but never can be lowered (like a multi employer plan).  The AA plan is backed
by AA's assets, the IAM plan is only backed by keeping more members paying
into then taking out. As soon as their membership drops below its needed number
to maintain the plan it becomes a house of cards. AA will need to file for bankruptcy 
again to affect its frozen plan, and even then it no longer is a guarantee they will
be able to rid themselves of their obligations to its pension plans.
 If the reason IAM's stooge continually is on this forum propping up the IAMPF is to try 
and sell it to potential future members, he is wasting his time!
 If the future of Tulsa is in jeopardy because of the way the industry is changing guess
what, that is life. If the loss of my frozen plan is in jeopardy  because of back door plans
to prop up the IAMPF guess what, you will have the fight of your life on your hands .....Association!