American Airlines and Labor Negotiations

[PIEDMONT784]

BTW I’m just curious here. How many cities have you worked in and moved to?

Probably exactly the same as Tim...

>SPIT<

 

[PIEDMONT784]

I stand corrected. You can’t work for the same company.

I know of several that attempted to file for their PBGC post-merger while still employed. They were claiming that since they no longer worked for LUS, as it was now a different company (AA) they were eligible to file. I'm not sure if they successfully exploited this loophole or not... they aren't saying...

 

[Tim Nelson]

Will the Grand Lodge pension take a haircut in solidarity with the dues paying members that will bear the brunt of the IAMNPF?

Not only do the Grand Lodge and District leaders get a cushy pension, they also make enough to fully fund a 401K and Roth IRA unless they indulge on $1200 wine and five start hotels regularly on their own dime.

Josh

unlike the critically projected iam pension, my other pension, the GL pension is 120% funded. They dont us their funds for wine tasting.

 

[WeAAsles]

I know of several that attempted to file for their PBGC post-merger while still employed. They were claiming that since they no longer worked for LUS, as it was now a different company (AA) they were eligible to file. I'm not sure if they successfully exploited this loophole or not... they aren't saying...

If I was a betting man I would bet a pretty penny that they were ultimately unsuccessful.

But I will admit that the thought is creative that’s for sure.

 

[737823]

unlike the critically projected iam pension, my other pension, the GL pension is 120% funded. They dont us their funds for wine tasting.

I wonder if the Alliance for Retired Americans and Pension Rights Center Roach is involved with will come out against IAMNPF cuts.

Josh

 

[Tim Nelson]

I wonder if the Alliance for Retired Americans and Pension Rights Center Roach is involved with will come out against IAMNPF cuts.

Josh

they wont. They didnt when the iam cut retirees with the motor city plan.
The problem is that congress has not adequately addressed multi employer funding which will be depleted by 2023. I doubt trump and republicans want to bail out unions for the mess. Martinez does his yearly "pension is doing great" speech after the february trustee meeting when he gets bad news. He always bases his statement on other multi employer plan comparisons, so in that context, its true.
Remember, the iam took a more aggressive route than other unions by already wiping out 1.5 billion future liability to keep the plan afloat. Other unions refused to cut benefits yet and are worse off.

That said, the iam will have to cut benefits again. This time it has been trying to hold off as it will kill all organizing, and also have members seek to replace the iam.
Future cuts are inevitable as i doubt they allow the plan to plunge into critical in a couple years.

 

[737823]

they wont. They didnt when the iam cut retirees with the motor city plan.
The problem is that congress has not adequately addressed multi employer funding which will be depleted by 2023. I doubt trump and republicans want to bail out unions for the mess. Martinez does his yearly "pension is doing great" speech after the february trustee meeting when he gets bad news. He always bases his statement on other multi employer plan comparisons, so in that context, its true.
Remember, the iam took a more aggressive route than other unions by already wiping out 1.5 billion future liability to keep the plan afloat. Other unions refused to cut benefits yet and are worse off.

That said, the iam will have to cut benefits again. This time it has been trying to hold off as it will kill all organizing, and also have members seek to replace the iam.
Future cuts are inevitable as i doubt they allow the plan to plunge into critical in a couple years.

I can’t wait to see how Roach and the head of that organization Richard Fiesta act when the inevitable entitlement reform comes. It’s a matter of when, not if.

Josh

 

[GVPSPIAM]

Flight Attendants Pension

https://www.brightscope.com/form-55...ican-Airlines-Inc-For-Flight-Attendants/2017/

Transport Workers Pension

https://www.brightscope.com/form-55...nsport-Workers-Union-Of-America-Afl-Cio/2017/

Pilots Pension

https://www.brightscope.com/form-55...nt-Benefit-Program-Variable-Income-Plan/2017/

 

[Tim Nelson]

I can’t wait to see how Roach and the head of that organization Richard Fiesta act when the inevitable entitlement reform comes. It’s a matter of when, not if.

Josh

Roach could care less about those programs now. His retirements are fine.
He is heavily set with the GL pension like our agcs. I was only in the GL pension a short while and ill be getting $400 a month. Nothing great. But at $150,000, our agcs are bagging about $300 month, per year as agc. 10 years as agc and they get $3,000!

 

[WeAAsles]

Roach could care less about those programs now. His retirements are fine.
He is heavily set with the GL pension like our agcs. I was only in the GL pension a short while and ill be getting $400 a month. Nothing great. But at $150,000, our agcs are bagging about $300 month, per year as agc. 10 years as agc and they get $3,000!

Wow that’s absolutely criminal. I mean seriously criminal.

Criminal that this GL is going to pay you $400 a month when in actuality you should be paying back any Compensation you received in your short time in that appointed position and that retirement stipend should be completely cut off.

You don’t even deserve a yearly Christmas card.

 

[Tim Nelson]

Great! Glad to see you got something, but im still against union bosses getting double pensions.

+1
Im really hoping that more iam members leave that awful company union. The iam didnt listen or work things out for the benefit of their members, so now things will change from outside the shell pissing in.
Sorry weez but the members need to be freed.

 

[737823]

Tim,
Maybe the IAMNPF should follow the IAM’s own advice. Listen to the last 30 seconds:

https://m.youtube.com/watch?v=O3jyylWqjr

Josh

 

[Tim Nelson]

Tim,
Maybe the IAMNPF should follow the IAM’s own advice. Listen to the last 30 seconds:

https://m.youtube.com/watch?v=O3jyylWqjr

Josh

True. But I've learned not to listen to 700, or any IAM Pollyanna or IAM official. They don't follow their own advice. As far as the pension, I hope GVP/700/lavman is right and that the plan reverses its losses. Until they prove the experts wrong, I have to stick with the IAM's own report that it is in the critical crapper in 2 more years. I'm going to have to plan accordingly. At least my Grand Lodge Plan is in safe hands.

 

[737823]

Didn’t you get a letter in 2005 calling the benefits “guaranteed”?

Josh

 

[WeAAsles]

+1
Im really hoping that more iam members leave that awful company union. The iam didnt listen or work things out for the benefit of their members, so now things will change from outside the shell pissing in.
Sorry weez but the members need to be freed.

You go get em Simpson. Just watch out you don’t fall for Delilah.