usfliboi
Veteran
- Aug 20, 2002
- 2,070
- 270
This is Roy Freundlich with a US Airways MEC update for Friday, January 31, with four new items:
Item 1. US Airways yesterday filed a formal notice with the Pension Benefit Guaranty Corporation (PBGC) and in U.S. Bankruptcy Court of its intent to terminate the pilots’ defined benefit pension plan, effective March 31, 2003. The Company also stated that this filing seeks to replace the current plan with a defined contribution plan.
As previously reported, the US Airways MEC opposes the termination of the pilots’ pension plan and is taking appropriate legal steps to object to the termination.
The Company''s motion for termination is scheduled to be heard on February 20 and objections to the motion must be filed and served no later than February 13.
Item 2. The December 13, 2002, confidential agreement between ALPA and the Company concerning an alternate pilot retirement benefit in the event the pilot pension plan is terminated has been released by ALPA and posted on the pilots only website. A memo from MEC Chairman Bill Pollock accompanying the agreement explains the letter’s intent of insuring that the restoration-funding commitment of $122 million per year becomes a safety net if the pilots’ pension plan is terminated. The MEC required this agreement to prevent the Company from putting that money back in its pocket, and leaving the pilots’ with no alternate pension benefit if the pension plan were terminated. In was not an agreement on an alternate retirement plan as has been misrepresented by management. The agreement was required to remain confidential so as not to interfere with the legislative solution being sought for restoration funding. The Company did not honor this provision of the agreement.
Item 3. The MEC Chairman, MEC Secretary-Treasurer, Staffing Review Committee, and the Negotiating Committee met with management to discuss issues associated with Bid 03-01. ALPA believes that an excess of 200 pilots are being furloughed who were not or should not have been identified for furlough in permanent bid 03-01. MEC Chairman Bill Pollock told the Company representatives that the furloughs scheduled for February 4 should be cancelled and the parties should meet to ensure that all furloughs are in compliance with all agreements between the Association and the Company. Chairman Pollock also called US Airways CEO David Siegel to ensure that the concerns expressed at the meeting received attention at the highest level. Mr. Siegel will meet with senior company officials tomorrow, February 1, to discuss the Association’s concerns.
Item 4. Management today informed ALPA that the Company has granted 22 pilot leaves of absence in lieu of furlough. These pilots have been contacted by the Company.
Please remember we have 1,748 pilots on furlough, with 79 pilot furloughs scheduled for February 4.
Thank you for listening.
Item 1. US Airways yesterday filed a formal notice with the Pension Benefit Guaranty Corporation (PBGC) and in U.S. Bankruptcy Court of its intent to terminate the pilots’ defined benefit pension plan, effective March 31, 2003. The Company also stated that this filing seeks to replace the current plan with a defined contribution plan.
As previously reported, the US Airways MEC opposes the termination of the pilots’ pension plan and is taking appropriate legal steps to object to the termination.
The Company''s motion for termination is scheduled to be heard on February 20 and objections to the motion must be filed and served no later than February 13.
Item 2. The December 13, 2002, confidential agreement between ALPA and the Company concerning an alternate pilot retirement benefit in the event the pilot pension plan is terminated has been released by ALPA and posted on the pilots only website. A memo from MEC Chairman Bill Pollock accompanying the agreement explains the letter’s intent of insuring that the restoration-funding commitment of $122 million per year becomes a safety net if the pilots’ pension plan is terminated. The MEC required this agreement to prevent the Company from putting that money back in its pocket, and leaving the pilots’ with no alternate pension benefit if the pension plan were terminated. In was not an agreement on an alternate retirement plan as has been misrepresented by management. The agreement was required to remain confidential so as not to interfere with the legislative solution being sought for restoration funding. The Company did not honor this provision of the agreement.
Item 3. The MEC Chairman, MEC Secretary-Treasurer, Staffing Review Committee, and the Negotiating Committee met with management to discuss issues associated with Bid 03-01. ALPA believes that an excess of 200 pilots are being furloughed who were not or should not have been identified for furlough in permanent bid 03-01. MEC Chairman Bill Pollock told the Company representatives that the furloughs scheduled for February 4 should be cancelled and the parties should meet to ensure that all furloughs are in compliance with all agreements between the Association and the Company. Chairman Pollock also called US Airways CEO David Siegel to ensure that the concerns expressed at the meeting received attention at the highest level. Mr. Siegel will meet with senior company officials tomorrow, February 1, to discuss the Association’s concerns.
Item 4. Management today informed ALPA that the Company has granted 22 pilot leaves of absence in lieu of furlough. These pilots have been contacted by the Company.
Please remember we have 1,748 pilots on furlough, with 79 pilot furloughs scheduled for February 4.
Thank you for listening.
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