Chip said: "It wouldn't surprise me to see the company take the funds planned for IAM/AFA pension restoration and use them to help fund the pilots retirement plan, and seek a S.1113 hearing to impose contract changes, if either union with a defined benefit retirement plan or the CWA fail to ratify their TA's."
Insp89 asked: "Chip, now that everyone voted in ROUND 2 concessions, Do you still believe your statement concerning the pensions?"
Chip answers: Insp89, in his December 24 letter to all employees Dave Siegel said, "The only thing that puts the IAM and AFA pensions at risk is a 'no' vote on ratification." With the modified restructuring agreements ratified, I do not expect the company to seek to distress terminate the mechanic and F/A pensions. My point earlier in this thread was if a RA was not ratified, the company may have gone to the judge and asked for a union contract to be set aside, which could have lead to the loss of a retirement plan. If this occurred, then the company would have additional future funds available for other pension plan restoration funding, if any individual pension plan was termianted.
