E.O./S&S and prefunding match
- Thread starter rifbound
- Start date
Well that depends what station you’re at... Of course there is no uniformity on these policies..
The guys that went Oct 26th and this Friday, Nov 9th, will get the E/O payout minus the matching prefunding.. The Nov 9[sup]th[/sup] individuals will get their contributed prefunding but not the company match portion until it is determined by litigation.. In fact, I believe the Oct 26th guys (25 of them at DFW) received retirement medical in lieu of any prefunding refunds..
Allegedly, the last E/O window here at DFW is Jan 19th.. But I have heard that Class 2 station E/O's and SIS with have until Sept 2013 depending on operational requirements and slot bidding after the RIF is complete..
The guys that went Oct 26th and this Friday, Nov 9th, will get the E/O payout minus the matching prefunding.. The Nov 9[sup]th[/sup] individuals will get their contributed prefunding but not the company match portion until it is determined by litigation.. In fact, I believe the Oct 26th guys (25 of them at DFW) received retirement medical in lieu of any prefunding refunds..
Allegedly, the last E/O window here at DFW is Jan 19th.. But I have heard that Class 2 station E/O's and SIS with have until Sept 2013 depending on operational requirements and slot bidding after the RIF is complete..
AANOTOK
Veteran
- Oct 10, 2009
- 4,627
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Not sure how that could be. Retiree medical was done away with in all workgroups. The 1114 hearing
will try to do the same for all retirees. Maybe I'm missing something.
Retirement Medical has been eliminated by the ratified agreement taking effect November 1st... The guys that retired prior to Nov 1st have retired under the preexisting contract entitling them to retirement medical.. Now when the 1114 hearing is ruled.. These guys and all retired AA AMT's can lose the medical benefit depending on the judges ruling.. It's a gamble.... Not a factor if your over 65.. But at least your in the game if under that threshold.
The word I received is that if your station is effected by RIF’s, the last date for E/O’s is Jan 19th..
If there are no RIF’s, (ie: DEN, AUS, MCO, TPA.. etc) Then the open slots will be bid upon and filled after the RIF schedule is completed..
Like I say, there are no hard copy documents verifying this, just verbally
The word I received is that if your station is effected by RIF’s, the last date for E/O’s is Jan 19th..
If there are no RIF’s, (ie: DEN, AUS, MCO, TPA.. etc) Then the open slots will be bid upon and filled after the RIF schedule is completed..
Like I say, there are no hard copy documents verifying this, just verbally
OP
rifbound
Member
- Feb 2, 2012
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- Thread Starter
- Thread starter
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I thought that the election to take the e/o was closed already? Now it's just a matter of waiting to cut the ptr paper work. Also I thought that the election time for the sis is over too. That letter on jetnet is dated 2004 and isn't really valid now. As far as the sis goes. The prefunding match will come 120 days after the ruling from the judge, if we get it. I heard the guys at AFW that took the e/o and the sis are already seperated from AA and have received their money. Idk how true that is but you know how rumors go.
Alot of guys from DFW including CC have retired or put in for the e/o. Hell they had 4 temp CC spots up for bid at DFW and none of them got filled. Isn't the speration from the line and the hanger supposed to happen after the first of the year sometime? That will be a cluster f##k getting that squared away, lol.
The window I'm referring to is the "separation window dates".. The sign up window closed Sept 25th.. Your also right about the Dwh/Line/Hgr bids.. But we think that will happen possibly the 2nd bid of 013... Management does not have the capacity for such a complex formula with Rif's, E/O's and SIS happening around bid 1...
The Dayshift CC spots have been filled by an internal bid but the vacancies left by them have not...
And yeah buddy.. it's a cluster love fest going on here... haha
The Dayshift CC spots have been filled by an internal bid but the vacancies left by them have not...
And yeah buddy.. it's a cluster love fest going on here... haha
AANOTOK
Veteran
- Oct 10, 2009
- 4,627
- 2,242
Just an FYI that I and I'm some others probably didn't know about. Your prefunding is not completely safe. Had heard rumors that AA was investing OUR prefunding dollars that was supposed to be "locked in a trust". Just got off the phone with JP Morgan and AA is throwing MY money around the stock market. It is not frozen nor has it ever been and as of yesterday I have lost $200 since Oct. 4th. SURPRISE!!!
Got this in an email today........ Can't verify the origin so read it with a grain of salt...
[background=rgb(255, 248, 45)]
FYI – Below is a message from AA regarding Retiree Medical refunds – please encourage your members to make sure they have a current address on Jetnet:[/background]
We are working to send the refunds of employee retiree medical prefunding contributions early, and are hopeful to have the checks to employees in December. We anticipate being able to share the mailing date next week, after all of our reviews are complete.
One step employees can take immediately is to make sure their address on file with American is accurate. Employees can do this by going to Jetnet, and clicking on “Update MY Information” under “Resources” on the right hand side of the Jetnet homepage. Please check your address byDecember 5[sup]th[/sup]
[background=rgb(255, 248, 45)]
FYI – Below is a message from AA regarding Retiree Medical refunds – please encourage your members to make sure they have a current address on Jetnet:[/background]
We are working to send the refunds of employee retiree medical prefunding contributions early, and are hopeful to have the checks to employees in December. We anticipate being able to share the mailing date next week, after all of our reviews are complete.
One step employees can take immediately is to make sure their address on file with American is accurate. Employees can do this by going to Jetnet, and clicking on “Update MY Information” under “Resources” on the right hand side of the Jetnet homepage. Please check your address byDecember 5[sup]th[/sup]
TWU informer
Veteran
- Nov 4, 2003
- 7,550
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Yeah, give away our pensions and medical and get excited over chump change that is your money to begin with. Stupid is as stupid does.
Well Well D’bag Informer.. This is an informational thread for those who diligently planned on retiring early without subsidies.. Take your weak retort to your locals crapper stall # 3 and write it on the wall with a sharpie..
For the gents who put in their time at AA, maxed out our 401k’s every year, made excellent market correction decisions on fund investments, worked for our 4 year degrees, and can retire at the ripe age of 55 with enough assets to classify work as an option for the remainder of our lives. I applaud you..
Channel some energy to the D’bag Informer so he won’t require subsidies for the rest of his life.. I never counted on my pension or social security to be around but if it is, it’ll cover my bar tab… lol..
For the gents who put in their time at AA, maxed out our 401k’s every year, made excellent market correction decisions on fund investments, worked for our 4 year degrees, and can retire at the ripe age of 55 with enough assets to classify work as an option for the remainder of our lives. I applaud you..
Channel some energy to the D’bag Informer so he won’t require subsidies for the rest of his life.. I never counted on my pension or social security to be around but if it is, it’ll cover my bar tab… lol..
You consider a pension and retiree medical a subsidy?
I too was skeptical that AA would live up to their promise and put away what I could but that doesn't mean I'm OK with them doing it.
Bob.. If I had the choice in 84 to opt out of the pension for a 401k investment program, I would have took it in a new york minute..
My dad taught us about wise investments and financial independence.. You can always count on yourself, not the company or any of the government programs..
My dad taught us about wise investments and financial independence.. You can always count on yourself, not the company or any of the government programs..
Frank Szabo
Veteran
I agree.
Aside from being dependent on an entity (the company & its "union") that can always be counted upon to act in its own best interests (not ours), a pension was no more than a bargaining chip for the company. Given the simple fact the line between the twu and amr are blurred (understatement) as they are, the pension was never something I'd counted on - it could go away as a matter of "need" for the company and as we all have been shown, with only token hell-raising by our supposed representation, with a de facto cut in compensation to wash it down.
Just received this email for those interested...
Subject: Employee Prefunding Contribution Checks to be Mailed December 12
It has been confirmed that JP Morgan will commence sending employee contribution prefunding checks to eligible TWU represented employees on Dec. 12, 2012.
