American Airlines and Labor Negotiations

[Tim Nelson]

How about the one where it is on critical status and will be cut to junk.?
Opinions don’t count just the facts please

i posted the critical status before and shouldnt have to again but you just dont listen or remember, rat.
Unlike you, my retirement is important to my family, so i dont just listen to my agc or read only what my pension bosses send me.
I know my rights, so i request the actuarial report which is completed every november. The actuaries are the paid experts that our unbeloved pension trustees pay.
i posted the 2017 actuarial report already and its assessment was that the pension will tank to critical status (60%<) within 5 years. I just received this years report and i hate to say its not good. Below 90% already and taking on water. Its not public but i secured it for fly. The actual report was suppose to be reviewed by the unbeloved iam pension trustees at this mnths meeting.
Sorry, not going to out anyone , the trustees will put out the annual notice funding requirement the 3rd week of April. They wont let it go to junk. Like the Local 701 mechanic iam pension, and the motor city iam pension, something drastic will happen. The iam actually asked Trumps US secretary to whack retiree benefits for its one pension. Its all online, i suggest you google.
All facts that your boy baskett refuses to tell you so you have to ask me.
Now for my opinion. I dont believe they will cut our future benefits. I think and heard that the preferred route will be to eliminate the early non reduced retirement that allows all of us to retire before 65 without benefit reductions. They could just put in a new benefit schedule that reduces future benefits and i would prefer that instead of being forced to work till 65.
Ask your boy Tommy Reagan next time and leave this insignificant employee alone.

 

[Kev3188]

Just a reminder: Anyone that is a Plan Participant can access/request the forms Tim mentions above.

 

[Tim Nelson]

Tim, now that the number of UA mainline stations has been decimated due to contracting out enabled by the 2013 agreement why are there still the same number of AGCs? Why are they getting paid more to cover less ground? People have justified their cushy gigs and salary by saying it’s a demanding job and they’re constantly on the road.

Some AGCs have only a few stations like P.Rez and the vast majority of his membership is at his home city of PHX

Josh

Greed continues to grow and consume until it has met its match, ie., Justice. A constant cycle.

 

[WeAAsles]

Just a reminder: Anyone that is a Plan Participant can access/request the forms Tim mentions above.

Or he can just post them online since he already says he has them and at least seems to want people to believe him?

Not hard to do if you can’t PDF. Just take a few pics with your phone and share away.

 

[ALUS78]

How about the one where it is on critical status and will be cut to junk.?
Opinions don’t count just the facts please

That may very well be coming hopefully we get ours first

 

[PIEDMONT784]

Ironically, Tim's golden goose argument about 401k's being superior to pensions falls woefully short of reality. Comparing the well funded IAMNPF, to the average 401k reveals the truth.

The average 401k is so under funded, it will create a financial crisis all within itself.
The average 401k balance is around $60,000.00 -- Way below the $900,000.00 that will be needed for the average American to retire comfortably.

That makes the average 401k less than 10% funded!

https://theweek.com/articles/476368/how-401ks-are-failing-millions-americans

 

[ALUS78]

From what I see as a party who is not in the IAMPF and can be a nuetral voice since I personally have no vested interest in its success or failure and more and more don’t believe it will even be offered to me.

The funding levels year over year drop to where it sits currently would concern me. That’s not to say that some modest changes couldn’t shore up the fund long into the future but if I were a member of the fund I would continue to monitor it closely.

The fund currently is far from critical status looking at its last funding levels to liabilities report and certainly and ridiculously claimed not headed towards junk status.

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A whole bunch of retirees next decade without the ability to add new members at that rate .What does a fund like that make 7% tops? So if you do the math its not good i say make it you cant collect till 65

 

[Kev3188]

Or he can just post them online since he already says he has them and at least seems to want people to believe him?

Not hard to do if you can’t PDF. Just take a few pics with your phone and share away.

My hope is that people will take a little more interest in their retirement; you know, like you and I do.

A whole bunch of retirees next decade without the ability to add new members at that rate .What does a fund like that make 7% tops? So if you do the math its not good i say make it you cant collect till 65

Numbers-wise, this plan is heavily tilted in favor of retirees, and will only become more so.

 

[Tim Nelson]

Ironically, Tim's golden goose argument about 401k's being superior to pensions falls woefully short of reality. Comparing the well funded IAMNPF, to the average 401k reveals the truth.

The average 401k is so under funded, it will create a financial crisis all within itself.
The average 401k balance is around $60,000.00 -- Way below the $900,000.00 that will be needed for the average American to retire comfortably.

That makes the average 401k less than 10% funded!

https://theweek.com/articles/476368/how-401ks-are-failing-millions-americans

how can you say well funded? You think the 5 people on here are dumb? Even the underfunding is funded by cutting 1.5 billion of liabilities by tossing us on a ridiculous schedule.
without that cut, the pension would only be only 35% funded. Basically, if i just hope i get something even if its only $25 a month. And our 40% part timers just should forget about anything.

 

[Tim Nelson]

 

[WeAAsles]

A whole bunch of retirees next decade without the ability to add new members at that rate .What does a fund like that make 7% tops? So if you do the math its not good i say make it you cant collect till 65

I don’t get how you’re saying that the IAMPF doesn’t have the ability to add new Membership? There’s strong forward looking demand for growth within the Aerospace market in the next few decades as Human population (cattle) continues to grow.

But if the fund does show signs of further trouble restricting the start of collecting till one is 65 or reducing the percentage that can be drawn pre 65 (60 to 65) is one solution. Barring of course if someone can claim a personal medical hardship collection with no benefit loss.

 

[WeAAsles]

My hope is that people will take a little more interest in their retirement; you know, like you and I do.

That’s why personally I still see a need for DPB’s for those people and there are more of them than us, who don’t or can’t figure out how to invest wisely.

But a Company sponsored DBP should only come back if the Laws are strengthened to protect and keep it funded with full transparency.

Like the Multi Employer Pensions are today.

 

[Tim Nelson]

I don’t get how you’re saying that the IAMPF doesn’t have the ability to add new Membership? There’s strong forward looking demand for growth within the Aerospace market in the next few decades as Human population (cattle) continues to grow.

But if the fund does show signs of further trouble restricting the start of collecting till one is 65 or reducing the percentage that can be drawn pre 65 (60 to 65) is one solution. Barring of course if someone can claim a personal medical hardship collection with no benefit loss.

they have a very difficult time getting new employers in it due to the increased risk to employers. With the multi employer pbgc plan becoming insolvent in a few years, unions been lobbying congress to increase the interest rate for employers. I mean, these plans are not publicly funded. United notified its stockholders of these additional risk.
Also, very few employers will jump into a plan that is less than 100% funded.
The plan documents signed in 2006 at united gave United the right to opt out if the plan went below 100%.
So, the plan is going to have to cut again to attract new employers.

 

[cltrat]

Just a reminder: Anyone that is a Plan Participant can access/request the forms Tim mentions above.

And undoubtedly put up with less arrogance and ego to do so

 

[Tim Nelson]

a

And undoubtedly put up with less arrogance and ego to do so

bsolutely. But dont ask next time then. If your boy was not trying to protect his job, you wouldnt have to ask me. And you prolly know better than to ask tom reagon. Prolly know better than to ask baskett as well so you are better off putting up with the baby face cuz at least you get the truth.