ending date of pension plan for customer service employees?

[former_usairways]

Well, my wife finally got her PBGC estimate (and it took quite a bit less than the 45 day figure originally given; I guess they fudge it just in case). Less than $200/month for her 8+ years under the old pension plan. The numbers were confusing at first, but it appears you get one amount from 55 to 62, then it drops because social security (reduced payout) kicks in. At least the Wolfman is living large for the wonderful contributions he made to the standard of living of ex-US Airways employees.

I somehow don't see why folks like Lay and Skilling (of Enron fame) can get prosecuted/convicted, but Wolfie arranging for Fidelity to make a US Airways stock fund (stock in a company which was beginning it's final swirl in the crapper) available to the employees he had already thoroughly screwed is somehow okay. Maybe Wolfie was just a more accomplished crook and just skated on the edge of legality while the Enron execs crossed the line. You gotta wonder how he can live with himself, treating people like turds as he did. Must be nice. :rant:

 

[former_usairways]

Our situation is all to familiar across America. This country is going down the tube .... Good luck to all.


http://www.sptimes.com/2004/04/20/Business...EO_quits_.shtml

Wait till you see what happens to our healthcare system once The Messiah gets into office. Combine him with Pelosi and Reid and you get a nationalized healthcare system. Ever been to an emergency room at a large hospital? Well guess what, THAT'S what your doctor's office will look like in a few years. That whole cast of characters you saw in the ER will be parked in your doctor's office waiting to be seen. And the so-called "tax credits" for those who pay no taxes? They're actually welfare payments by a different name, one more palatable to the average voter. All that stuff will somehow be free because there will be no tax increases. I mean, he promised no tax increases except for the small minority who are filthy, stinking rich. Gee, ya think he might be lying?

 

[big airline]

My former US Airways employee wife is in the process of getting an estimate of her pension from PBGC, which might take as much as 45 days. Paperwork was lost after our move which gave particulars of when her pension plan (as customer service agent) was ended. I recall that before they were unionized in 1990s, Wolf and Gangwal (who asked agents to vote against unionization with promise the company would look after them...yeah, right!) terminated the pension plan which non-unionized employees had up to that time (also instituted "paid days off" system and various other things to screw them over so execs could get bigger bonuses...but that's a whole other story). My question: any of you know when the customer service folks pension plan was terminated (and replaced with the 401K defined contribution plan)? That would at least give us an idea of how many years service she has. I'm sure when PBGC sends the info re pension amount, the years of service number will be included, but we figured some of you folks might know exactly when the pension plan was terminated for non-union employees and we wouldn't have to wait for the PBGC info in terms of finding out how many years of service the figure is based on. Btw, PBGC.gov gives the maximum monthly amount various USAirways employees can get but we really have no idea what the monthly pension might be for my wife. Might pay for a couple of happy meals at McDonalds for all we know. I suppose we can reat easy knowing that at least Stephen Wolf is comfortable after his valuable contributions to US Airways.

 

[autumn68]

Our pension plan was terminated Dec. 31st 1991.

Had we been unionized at the time, it never would have occured. We tried to unionize for years, but some CSA/RES agts couldn't see beyond their noses (or were pretty much brainwashed) and it was consistently voted down. FINALLY, after taking the brunt of the employee abuse during the 1990s, customer service woke up and voted in a contract.

CWA did help us get severance pay in 2001, when Wolf denied it to us.

 

[former_usairways]

Our pension plan was terminated Dec. 31st 1991.

Had we been unionized at the time, it never would have occured. We tried to unionize for years, but some CSA/RES agts couldn't see beyond their noses (or were pretty much brainwashed) and it was consistently voted down. FINALLY, after taking the brunt of the employee abuse during the 1990s, customer service woke up and voted in a contract.
CWA did help us get severance pay in 2001, when Wolf denied it to us.

I remember the letter my wife got (I think from W&G) when the CWA business was being voted on. He/they said don't vote to unionize...we'll look out for you. My attitude towards unions is generally not very positive, but you are definitely right. If they would have been unionized at the time, the CSAs wouldn't have been shafted by mgt as they were. Interesting that, as John John pointed out, the unions in '91 were mute while the CSAs were being screwed. I suppose it's because they weren't unionized and unions generally don't care as much about fellow employee groups who aren't unionized. Anyway, my wife's entire Piedmont/US Airways career turned out to be very unrewarding from a monetary standpoint. I suppose many other airline's employees/ex-employees were/are in the same boat, but US Airways mgt always seemed particularly inept. Still is, for customers, employees and investors alike.

 

[john john]

I remember the letter my wife got (I think from W&G) when the CWA business was being voted on. He/they said don't vote to unionize...we'll look out for you. My attitude towards unions is generally not very positive, but you are definitely right.

Was your wifeie right or did she listen to you

 

[wings396]

The frozen pension plan took place under Seth & Co. on the dates posted above. As I remember it after the current plan was frozen, we had nothing at all for a one year period. After that time the company developed the 401k plan with a base match %. The people that had a lot of time in the plan that was frozed did fairly well from what I recall. Those of us that were younger with less time took the real beating due to the frozen plan. The company figured that we would have more time in the new 401k, and that it would benefit us just as well. Those of us in the IAM lost the 401k around 2003 or so in favor of the IAM pension, but the CWA and some others were able to keep it going. So as it sits now, there are some of us that will have part of the frozen plan, part of a 401k, and part of the IAM plan...That should be a nightmare to organize and keep track of upon retirement.

 

[former_usairways]

Was your wifeie right or did she listen to you

Well first off, it was her job, not mine, and that was something she decided for herself. As I recall, she voted not to unionize, although, frankly, neither of us has strong opinions about unions one way or the other. Back to the US Airways situation, with 20/20 hindsight, she should have voted to unionize and NOT trusted the greedy SOBs who ran the airline. I do have strong negative feelings about those a-holes (and the current alcoholic CEO) than about unions. This is an excellent example of when unions can be very useful. Of course in the end everyone, union and non-union alike, got the shaft. But the ones responsible for the corporate disaster are, as I've said, living large (and laughing all the way to the bank).

 

[kicked2curb]

Our pension plan was terminated Dec. 31st 1991.

Had we been unionized at the time, it never would have occured. We tried to unionize for years, but some CSA/RES agts couldn't see beyond their noses (or were pretty much brainwashed) and it was consistently voted down. FINALLY, after taking the brunt of the employee abuse during the 1990s, customer service woke up and voted in a contract.

CWA did help us get severance pay in 2001, when Wolf denied it to us.

You are so right, if CSA'S/RES Agent's had been represented prior to 1996, they would have been given more equitable treatment. IMO, representation came too late to make a real impact. You can't get back what you had,once it's been taken away or bargained away.

 

[usa1]

Every US Airways employee reading this thread under age 35 should view it as a wake up call ...... do the math ....... you are hooked to a dead end job in a completely devastated industry. RUN before it's to late. Find another job, get in business for yourself. There is nothing to look forward to here.

Under the pre-BK 2 401k plan the company put the equivalent of 10% of your pay and then match 50 percent on the dollar, up to 4 percent of your personal contribution.... now they put in a little pocket change, almost nothing.

There is no retirement here.......RUN RUN ... BRFORE YOU ARE TO OLD!