AMFA......read on

[Bob Owens]

Lets see the IAM represented mechanics are the only mechanics out of the majors that have a pension.
 
AA, UA, WN and DL all have 401k(s) and you do realize a 401k was not designed to be a pension, it was to supplement a pension and Social Security?

The problem is a DB pension is designed to be a pension when its based off a livable 40 hour a week wage, which is not what the IAM negotiated, If you could not live off the wage then you most certainly will not be able to live off the pension. That's why despite the fact that they have a DB that US is full of old men that should have retired years ago, but they cant. Isn't the average mechanic at US over 57 years of age? How many are over 60? How many over 65 but still cant retire thanks to all your concessions? 
 
 
Ok throw out some numbers. What would a mechanic at top rate with 15 years in the IAMPF plan get, assuming they don't reduce the pensions as those multi-employer plans so commonly do? ?
 
Keep in mind that he cant retire until 70 because the IAM pension prohibits him from working for another carrier and if he needed to work OT and a second job before he retired neither of those options will be available once he starts collecting his puny IAM pension, thanks to the IAMPF rules, did US ask you to add that language? Sure works to the advantage of the company doesn't it? locks them in and allows them to get concessionary deals in place even when they are showing billions in profits.
 
At bottom of the industry wages I'll bet your IAM pension comes nowhere near what a mechanic at SWA can put away for retiremnent out of his extra earnings, along with the company match of 9% and still have $10k a year more to spend than a USAIR mechanic that thanks to the IAM will have sat at the very bottom of the industry for 17 years.
 
The fact is your plan is dying because the IAM is dying. How many members has the IAM lost over the last 20 years? 700,000? 50%? The IAM is hoping to get their hands on our pension monies to buoy up the pensions long enough to carry Hittingbottom and his boys but in 15 years when I need my pension we will be S.O.L. 
 
I know what I'm getting from my pension, why would I want to put that at risk and also have restrictions placed on me beyond my time at AA? 
 
Did anyone out there happen to look at the AUGUST AMT magazine?   The graph on page 8 shows that 77% of A&P mechanics are over 50 years of age.   35.5% are over 61 years of age.      93% are over age 40. 
 
The IAM is working with USAIR/AA management  to make sure that we have to work till we die with a puny pension and rules that deny you the ability to leave AA and go with a better paying carrier, where we could use the pension to suppliment our income till we reach top of scale. 

 

[TWU informer]

Wow Bob,
 
Sometimes I think you might be on a little bit of tangent, but this time, I believe you might be right on target.
 
Let's see if someone can produce some factual answers to your claims.
 
I hope they are all refuted because that looks really bad if true.
 
Let's see some facts now!

 

[TRAVIS]

 

[blue collar]

Using the $85 multiplier, someone with $15 years would get $1275/mo. So for you living in New York, it would maybe barely cover your property taxes every month.

 

[Tim Nelson]

You haven't the first clue - tell me, how was seniority handled in the case of UAL (IAM-AFA) flight attendants? Be specific.

Ive exhausted the conversation with u. I dont wish any harm on amfa but you guys get arrogant and mislead, and because of that amfa has not been successful with a group of mechanics who dislike their union but decide to stay because the insurgent union doesnt know nmb timelines or basic laws. may the majority decide!

 

[700UW]

So $30+ an hour is not livable?
 
How do the workers that make $7.25 an hour survive?
 
Or better yet, how about $2.13 an hour servers and bartenders?

 

[Tim Nelson]

Wow Bob,
 
Sometimes I think you might be on a little bit of tangent, but this time, I believe you might be right on target.
 
Let's see if someone can produce some factual answers to your claims.
 
I hope they are all refuted because that looks really bad if true.
 
Let's see some facts now!

iampf is absolutely terrible. As poor as the numbers are, the iam pension trustees may have to cut schedules a 3rdtime to keep it green. That third grab could snarl all of us, and members like me twice. Im at least hoping that the association considers allowing members to have a choice. In this centuryit makes absolutely no sense to hand your benefit to a 3rd party.

That said, iam mechanics at usair have big risk if amfa is voted in. I doubt the iam will be their friend if amfa gets in. And i can see the company stopping all contributions. It can happen.

 

[blue collar]

iampf is absolutely terrible. As poor as the numbers are, the iam pension trustees may have to cut schedules a 3rdtime to keep it green. That third grab could snarl all of us, and members like me twice. Im at least hoping that the association considers allowing members to have a choice. In this centuryit makes absolutely no sense to hand your benefit to a 3rd party.

That said, iam mechanics at usair have big risk if amfa is voted in. I doubt the iam will be their friend if amfa gets in. And i can see the company stopping all contributions. It can happen.

If AMFA got in, what would stop them from getting a LOA covering that $4160/year I nto some other account? There really is no 'big risk', the mechanics don't have enough invested in the pension, only 6 years worth of contributions.

 

[1AA]

iampf is absolutely terrible. As poor as the numbers are, the iam pension trustees may have to cut schedules a 3rdtime to keep it green. That third grab could snarl all of us, and members like me twice. Im at least hoping that the association considers allowing members to have a choice. In this centuryit makes absolutely no sense to hand your benefit to a 3rd party.

That said, iam mechanics at usair have big risk if amfa is voted in. I doubt the iam will be their friend if amfa gets in. And i can see the company stopping all contributions. It can happen.

What risks are you referring too? If the IAM pension stops contributing after a JCBA then the 401K would be an alternate choice. The 401K match contributes more to the employer and he or she has control of where to invest and how much. A early withdrawal at 59 1/2 would have no penalty. Again AMFA does not handle pensions nor does the TWU. The IAM pension for us AAer's pays at a different rate. Two tier is more of a better explanation. So we at AA would invest and how much would we get out of it in 5 or 10 years which most of us have left? The USAir guys might fair better than AAer's depending on time invested with USAir. They have a frozen or terminated pension with the PBGC, they have the IAM pension and if they get that frozen then they get the matching 401K like we have. Before you say how do I know the USAir guys will get the 401K match? A JCBA will address that issue. I doubt AA will allow the IAM and a 401K combined. AAer's want no part of the IAM pension and AA and USAir guys know our current 401K is a better investment since the company contributes and we have control on investments and amount contributed. Best part is NO restrictions. Oh and I forgot Social Security benefits.

 

[Real tired]

Using the $85 multiplier, someone with $15 years would get $1275/mo. So for you living in New York, it would maybe barely cover your property taxes every month.

I have 35 years.  My IAM pension is worth $540.43 per month before taxes.
 
Not a game changer.
 
I along with many others here want out.

 

[ThirdSeatHero]

Ive exhausted the conversation with u. I dont wish any harm on amfa but you guys get arrogant and mislead, and because of that amfa has not been successful with a group of mechanics who dislike their union but decide to stay because the insurgent union doesnt know nmb timelines or basic laws. may the majority decide!

 
Get arrogant and mislead?
 
Would that be like you did when you cited AFA-IAM seniority integration at UAL as an example, and now when challenged wish to discontinue the conversation with nothing but an offhand attempt at a slight?

 

[Rogallo]

I have 35 years.  My IAM pension is worth $540.43 per month before taxes.
 

 
Holy Crap! That's it?

 

[700UW]

I have 35 years.  My IAM pension is worth $540.43 per month before taxes.
 
Not a game changer.
 
I along with many others here want out.

Tell the whole truth.
 
You werent in the plan for 35 years, it was negotiated in 2008.

 

[blue collar]

What risks are you referring too? If the IAM pension stops contributing after a JCBA then the 401K would be an alternate choice. The 401K match contributes more to the employer and he or she has control of where to invest and how much. A early withdrawal at 59 1/2 would have no penalty. Again AMFA does not handle pensions nor does the TWU. The IAM pension for us AAer's pays at a different rate. Two tier is more of a better explanation. So we at AA would invest and how much would we get out of it in 5 or 10 years which most of us have left? The USAir guys might fair better than AAer's depending on time invested with USAir. They have a frozen or terminated pension with the PBGC, they have the IAM pension and if they get that frozen then they get the matching 401K like we have. Before you say how do I know the USAir guys will get the 401K match? A JCBA will address that issue. I doubt AA will allow the IAM and a 401K combined. AAer's want no part of the IAM pension and AA and USAir guys know our current 401K is a better investment since the company contributes and we have control on investments and amount contributed. Best part is NO restrictions. Oh and I forgot Social Security benefits.

If you actually wanted in the IAMNPF (not that you would though), you'd be accruing the same rate as the US mechanics. They're accruing benefits on the lower tier also.

 

[La Li Lu Le Lo]

Wasn't 700UW bragging about how he got rid of Tim Nelson.
 
Another lie brought to us by 700UW.