American Airlines and Labor Negotiations

[ALUS78]

Did LUS compromise when only IAM members had the better insurance since 2005?

And no other unionized groups at AA have a “Me-too” clause.

Nobody really raised an issue as I remember, now they will.If i remember the CWA had snap backs we didnt nobody raised an eyebrow things are different now maybe social media is more out there who knows

 

[GVPSPIAM]

You just don’t get it.

PBGC doesn’t matter they have zero to do with a frozen plan until it gets in the danger zone. They are pleased as they didn’t want to take on a $17 billion liability.

You don’t get what the company promised you, they promised you a DBP for all your years of service.

Your accrual stopped SEVEN years ago.

And you still didn’t retract your blatant false information.

 

[ALUS78]

You funny man

Its a defense theyve used in the past that i s irrelevant now at least i think plus we are all going to be negotiating around the same time

 

[WeAAsles]

I hope you read your own posted link? It confirms what I am saying.
The plan was only frozen not terminated and the PBGC was pleased.

I still have my pension plan from the day I walked in the door. It was frozen in bankruptcy.
I will still get what the company has promised at retirement.

When one of the participating companies falls under 40% who helps shore up the Multicorporate Pensions?

Read this and then consider how much the PBGC is underfunded by Buck. You and I better hope the New AA keeps flying profitably for the rest of our lives.

AMR By the Numbers
Plans: 4
Total workers and retirees: about 130,000
Estimated pension assets: about $8.3 billion
Estimated benefits owed: about $18.5 billion
Estimated amount Insured by PBGC, if pension plans fail: About $17 billion
Premiums paid to date from AMR to PBGC: about $260 million

 

[AANOTOK]

Its a defense theyve used in the past that i s irrelevant now at least i think plus we are all going to be negotiating around the same time

What, don't reply when proven wrong and look a fool?

 

[ALUS78]

Not on his ceiling above his bed?

Those you could hsrdly see anymore

 

[ALUS78]

What, don't reply when proven wrong and look a fool?

They are saying well we had the medical
in the past when no one else did.No way thats going to happen now.The difference in rates is way too much to shrug off

 

[GVPSPIAM]

Read this and then consider how much the PBGC is underfunded by Buck. You and I better hope the New AA keeps flying profitably for the rest of our lives.

AMR By the Numbers
Plans: 4
Total workers and retirees: about 130,000
Estimated pension assets: about $8.3 billion
Estimated benefits owed: about $18.5 billion
Estimated amount Insured by PBGC, if pension plans fail: About $17 billion
Premiums paid to date from AMR to PBGC: about $260 million

The current funding as of Sept of last year is $11 billion and liabilities of $18 billion.

So in seven years they paid in and gained on investments of $3 billion.

 

[GVPSPIAM]

From last 10k

“
We have significant pension and other postretirement benefit funding obligations, which may adversely affect our liquidity, results of operations and financial condition.
Our pension funding obligations are significant. The amount of these obligations will depend on the performance of investments held in trust by the pension plans, interest rates for determining liabilities and actuarial experience. The minimum funding obligation applicable to our pension plans was subject to favorable temporary funding rules that expired at the end of 2017. Our minimum pension funding obligations are likely to increase materially beginning in 2019, when we will be required to make cash contributions corresponding to determinations made regarding the 2018 fiscal year. In addition, we may have significant obligations for other postretirement benefits, the ultimate amount of which depends on, among other things, the outcome of an adversary proceeding related to retiree medical and other postretirement benefits and life insurance obligations filed in the Chapter 11 Cases.”

 

[WeAAsles]

I hope you read your own posted link? It confirms what I am saying.
The plan was only frozen not terminated and the PBGC was pleased.

I still have my pension plan from the day I walked in the door. It was frozen in bankruptcy.
I will still get what the company has promised at retirement.

When one of the participating companies falls under 40% who helps shore up the Multicorporate Pensions?

Third paragraph down

https://www.pbgc.gov/sites/default/files/pbgc-annual-report-2018.pdf

 

[WeAAsles]

From last 10k

“
We have significant pension and other postretirement benefit funding obligations, which may adversely affect our liquidity, results of operations and financial condition.
Our pension funding obligations are significant. The amount of these obligations will depend on the performance of investments held in trust by the pension plans, interest rates for determining liabilities and actuarial experience. The minimum funding obligation applicable to our pension plans was subject to favorable temporary funding rules that expired at the end of 2017. Our minimum pension funding obligations are likely to increase materially beginning in 2019, when we will be required to make cash contributions corresponding to determinations made regarding the 2018 fiscal year. In addition, we may have significant obligations for other postretirement benefits, the ultimate amount of which depends on, among other things, the outcome of an adversary proceeding related to retiree medical and other postretirement benefits and life insurance obligations filed in the Chapter 11 Cases.”

You can lead the old Mule (Donkey) to the Water but you can’t make him drink.

 

[GVPSPIAM]

Pension Obligations are in this chart.

 

[GVPSPIAM]

 

[PIEDMONT784]

AND TODAY'S WINNER IS....

Unions that have stolen members pension, result IAM's multiemployer...

Why does the IAM not explain it's internal Health Care plan that will possibly be added to the contract.

CONGRATULATIONS, YOU EVEN BEAT OUT YOURSELF (TIM) !

 

[GVPSPIAM]