They had their 2 meetings over the Me-Too clause for our 401K and insurance too I do believe. Not sure if folks are willing to fore go the regular plan in order to get it. However, I do like the option of being able to enroll this fall, and, all the folks already in it can remain in it (grandfather clause). We shall see how this goes over with the membership as a whole. Gotta think this one thru with the wife some more.
Of course this will maintain us being the highest retirement match, dollar for dollar in the passenger airline industry @ 10%.
Thank you AMFA for being pro-active on the Me-Too clauses, and also thx to the other group that was able to get the increase as well. Any boost in retirement is a good thing for any and all employees, period.
Of course this will maintain us being the highest retirement match, dollar for dollar in the passenger airline industry @ 10%.
Thank you AMFA for being pro-active on the Me-Too clauses, and also thx to the other group that was able to get the increase as well. Any boost in retirement is a good thing for any and all employees, period.
| AMFA-SWA 401(k) Me-Too Provision Update #2 |
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| August 2, 2024 As referenced in a previous update, we met with the Company virtually on July 26 (and again on July 29) to negotiate regarding the 401(k) me-too provisions in our respective CBAs as related to improvements recognized by other unionized work groups on the property. We are nearing an agreement-in-principle (AIP) on this issue. Once we reach an AIP, AMFA Legal will promptly work with Southwest to convert that AIP into a tentative agreement (TA). In all likelihood, there will be three separate TA Letters (one for each CBA – AMT, AAT, and FMT), which will be subject to ratification by the membership of the three respective CBAs. One of the terms and conditions associated with the increased 401(k) contribution secured by other unionized work groups that we can expect to be included within any forthcoming TA is the closing of entry into the Regular Plan. There will be more information provided on this issue as part of the ratification process. However, in short, this would mean any member currently enrolled in the Regular Plan would be allowed to remain in the Plan, and any member not currently enrolled in the Regular Plan would be given the opportunity to enroll in the Plan during this Fall’s open enrollment. Thereafter, a member could remain in the Plan unless and until they decide to depart. However, after this, entry into the Regular Plan would close. Based on the likelihood that this term will be included in any forthcoming TA, we retained the services of a health insurance expert to analyze our health insurance plans and provide you, the membership, with a summary of those plans to assist with your consideration and decision-making regarding the forthcoming ratification process. Please do not hesitate to contact your Airline Representative with any questions you may have. Fraternally, Your AMFA-SWA Airline Representatives Louis Upchurch, Local 4 Craig Hamlet, Local 11 Wayne Lampley, Local 18 Ken Patrick, Local 32 |
