Aircraft maint issues

[Matt1200]

Just so I know, what does the IAM Pension Fund cost per p[ay period?

It cost me nothing, the company puts in 92.50 a month. I am 100% invested. I retire in 7 years and will receive 1700.00 a month for life. If we keep the pension and the company increases monthly amount that will go up.

 

[AANOTOK]

It cost me nothing, the company puts in 92.50 a month. I am 100% invested. I retire in 7 years and will receive 1700.00 a month for life. If we keep the pension and the company increases monthly amount that will go up.

Is that guaranteed or can the IAM cut that amount anytime they deem it necessary?

 

[Matt1200]

Is that guaranteed or can the IAM cut that amount anytime they deem it necessary?

Yes it is guaranteed unless the company files bankruptcy and then the PBGC takes over. The government will back up the pension

 

[ATD]

Another rumor.
AA/USAIR agreed to distribute the equity, What did we negotiate away.. with this group you do not get anything for nothing.. just saying

 

[Deleted member 14439]

Another rumor.
AA/USAIR agreed to distribute the equity, What did we negotiate away.. with this group you do not get anything for nothing.. just saying

From local 567

EQUITY UDATE,
This information was discussed on todays conference call,
AA has agreed to help with the equity distribution. They have also agreed to pay the employer's portion of the FICA tax. There are still some hurdles to overcome with capital gains issues however we anticipate the distribution to be accomplished by June of 2018. We have confirmed these funds will not be 401K eligible.

 

[BeechDriver]

It cost me nothing, the company puts in 92.50 a month. I am 100% invested. I retire in 7 years and will receive 1700.00 a month for life. If we keep the pension and the company increases monthly amount that will go up.

Are you sure that isn't per week? And I thought that your legacy usair leadership increased the company's responsibility upward from $2/hr to more closely match the 5.5% 401k match at AA?

ARTICLE 21.
RETIREMENT

(A) Effective with the May 23, 2008 paycheck, the current 401K/Retirement Plans and Company match will be replaced with the IAM National Pension Plan. Contribution rates will be as follows:

 $2.00 per hour for all Planners, Technical Documentation Specialists, Mechanics and higher classifications in accordance with plan rules.

 

[Real tired]

This kind of talk is not indicative of you, you usually don't sound like such an A-hole.

GP has said numerous times that a buyout will not be part of the contract. Hopefully our new contract will let you bump using your seniority if AA closes PIT, and you can go anywhere. If the contract is the TWU way, first the junior guys will get the better stations then by the time the senior guys get laid off, the only stations open will be LGA or ORD. Nobody knows for sure how it's going to be.

Not trying to be an A-hole. I wasn't trying to threaten or push seniority around. Plus I have never voted Yes for any contract at LUS yet, because all through my career, every contract has been concessionary.

Plus here at USAirways, we have NEVER had a buy out offered. The most they ever did, during any RIF, and it still bought yes votes, was offer 15 weeks severance and a whopping $10 bucks per hour for any unused sick time. In my eyes, a $100,000 buy out for someone ready to retire or unwilling to commute, would be a gift a LUS person has not ever seen.

That's how they got the Utility to vote yes to eliminate their own job. They told them, "we're going to lay you off, so you might as well vote yes to get your severance, because if you vote no, we'll lay you off anyways and you get nothing." They used the same methodology to stick us with the IAM pension.

It wouldn't buy my vote, but it sure might get me to leave. I'm not going to commute. I commuted in the beginning of my career, I won't do it again.

USAirways has become a company of concession loving, apathetic yes voters that are afraid to stand and fight, so around here, a buy out would be a good thing because we vote yes anyways and we never had one.

 

[Real tired]

Really!!!

Here at LAA, we have heard that very talk from Tulsa for years. The company stirs it up and gets the line and overhaul fighting each other. Congratulation you have become a company lackey. No one needs to hear your threats to another union member. If you want to show what a horses backside you are, go somewhere else so your fellow union brother does not have to hear how you are going to take his or her job.

Not being a horses arse. But that's how it works. I spent 40 years having that 1 guy with 1 more day seniority than me chasing me around taking my locker, my days off and my shift. It's called seniority and that's how it works in a union shop with a seniority system. Maybe not in a juniority system, but that's life around here.

And my point is, if there's a final RIF in PIT, and there's no real incentive to leave, there will be lots of pain system wide. But if the JCBA goes to your (AA) bumping, juniority system, the pain will be on our end.

 

[Real tired]

I don't think he was being confrontational or harsh, he was just just telling you how it is. Would you rather have his honest assessment or a sugar coated half truth?

Wow. Thank you. I wasn't being confrontational. It's a totally different system we live under around here. Seniority bumping rights verses a juniority system.

And I just spent the last 12 years being treated like garbage by Doug Parker. And the IAM isn't far behind. It's time for a big change here at LUS.

 

[Real tired]

Are you sure that isn't per week? And I thought that your legacy usair leadership increased the company's responsibility upward from $2/hr to more closely match the 5.5% 401k match at AA?

ARTICLE 21.
RETIREMENT

(A) Effective with the May 23, 2008 paycheck, the current 401K/Retirement Plans and Company match will be replaced with the IAM National Pension Plan. Contribution rates will be as follows:

 $2.00 per hour for all Planners, Technical Documentation Specialists, Mechanics and higher classifications in accordance with plan rules.

I don't know where he was getting those figures.

All our pension figures are the same for every person, and at the time, no one will see $1700 per month pension check unless they retire in 2028. In 7 years it will be around $1400 and that's only until the fund wants to cut our benefits, or if they catch you working in an unapproved job.

 

[swamt]

It cost me nothing, the company puts in 92.50 a month. I am 100% invested. I retire in 7 years and will receive 1700.00 a month for life. If we keep the pension and the company increases monthly amount that will go up.

Do you really think your "pension" will ever go up? C'mon man. Pensions have shown steadily in the past to get cuts after cuts to the retired as well as current workers benefits. There are currently 3 top union pensions on the chopping block for either retirees or current work force and has been done in the past to IBT and IAM pensions. You need to do a little more research on your pensions.

 

[swamt]

Are you sure that isn't per week? And I thought that your legacy usair leadership increased the company's responsibility upward from $2/hr to more closely match the 5.5% 401k match at AA?

ARTICLE 21.
RETIREMENT

(A) Effective with the May 23, 2008 paycheck, the current 401K/Retirement Plans and Company match will be replaced with the IAM National Pension Plan. Contribution rates will be as follows:

 $2.00 per hour for all Planners, Technical Documentation Specialists, Mechanics and higher classifications in accordance with plan rules.

I don't think he knows what he's talking about.

 

[swamt]

Not trying to be an A-hole. I wasn't trying to threaten or push seniority around. Plus I have never voted Yes for any contract at LUS yet, because all through my career, every contract has been concessionary.

Yup. Thx to the IAM you are correct sir. And what makes you think they (IAM) will not come back with a concessionary contract now???

 

[swamt]

I don't know where he was getting those figures.

All our pension figures are the same for every person, and at the time, no one will see $1700 per month pension check unless they retire in 2028. In 7 years it will be around $1400 and that's only until the fund wants to cut our benefits, or if they catch you working in an unapproved job.

I figured that much. he had no clue.

 

[Buck]

It cost me nothing, the company puts in 92.50 a month. I am 100% invested. I retire in 7 years and will receive 1700.00 a month for life. If we keep the pension and the company increases monthly amount that will go up.

so from my point of view ( AA ), it has a value of $92.50 a month. If I stay out of the pension, I would expect to have this value either put into my frozen pension somehow to boost the matching for my 401k.