AANOTOK
Veteran
- Oct 10, 2009
- 4,627
- 2,242
the Ed Koziatek letter was clear that in the event the plan is terminated that we get our money and the company contribution. These were individual accounts set up with JP morgan to protect them being taken away from us even in bankruptcy. How my individual account made it into court is beyond me. Unless it was allowed to be.........
"AA takes the position that the company’s various written “Benefit Guides” are the only documents that should be considered by the court to determine whether AA retained the unilateral right to modify or terminate retiree benefits and that those documents allegedly contain language that preserved AA’s right to modify or terminate such benefits. AA takes the position that the language of the Benefit Guides is so clear and unambiguous that the only reasonably conclusion that the court can make is that AA retained the right to unilaterally modify or terminate retiree benefits. It should be noted that during oral argument AA’s counsel indicated that the company intends to modify the retiree benefits not terminate them"
As soon as AA stated "modify" (ie stop funding) and not "terminate" (ie your match will cover the retirees medical till fund is dry) you lost your match.