1986Mekanic
Veteran
- Jun 1, 2018
- 572
- 98
I wonder who wrote the message to leaders and is there a link? It certainly looks legit.
Equity Update
- Thread starter Steel Curtain
- Start date
I wonder who wrote the message to leaders and is there a link? It certainly looks legit.
WeAAsles
Veteran
- Oct 20, 2007
- 23,533
- 5,262
It’s legit. It was sent from the Company to the TWU and sent out to all the President’s (Leaders) It actually wasn’t supposed to go out like that publicly but a Local put it out on FB and then of course it was captured and shared.
I think the intent was the TWU would put out their own communication updating us Members.
Personally I don’t think this communication being out publicly is a big deal. I’d like to think we’re smart enough to figure it out.
1986Mekanic
Veteran
- Jun 1, 2018
- 572
- 98
Got it, thanks..
gulfcoast1
Senior
- Apr 10, 2016
- 394
- 30
enough already
Veteran
- Jan 8, 2003
- 659
- 249
$3272 before taxes.
CremaDiLimone
Veteran
- Jun 8, 2016
- 1,817
- 154
$2500 for me...fsc, was awarded 265 shares
more than what most believed
more than what most believed
AANOTOK
Veteran
- Oct 10, 2009
- 4,627
- 2,242
$2654 and I'm assuming that's before taxes.
CremaDiLimone
Veteran
- Jun 8, 2016
- 1,817
- 154
this off $55 million, prob another $40 million to distribute...they made the 2nd check sound like it will be ripped apart by taxes for total fund, but i wouldn't be surprised to get over $4k total
would have still preferred to get the shares, but, oh well.
would have still preferred to get the shares, but, oh well.
AANOTOK
Veteran
- Oct 10, 2009
- 4,627
- 2,242
I was told this is the first of two checks. Not sure when the second will be dispersed but I believe with this one being 55 million, the second will be 36 million.
MetalMover
Veteran
- Sep 16, 2013
- 3,543
- 2,410
If I'm not mistaken, the second (36m) is the earnings on the total investment that is subject to IRS rules. So what is left after the tax man takes his is what gets distributed.????
MetalMover
Veteran
- Sep 16, 2013
- 3,543
- 2,410
Sounds about right. I'm guessing the formula consists of earnings for a specific period along with longevity.
WeAAsles
Veteran
- Oct 20, 2007
- 23,533
- 5,262
A post from TWU Local 514.
Equity Has Finally Arrived
Why is the International using two (2) distributions for our equity?
The International has been advised to distribute the equity in two (2) distributions. The first distribution will be approximately $55M, the second distribution will be approximately $30M from the funds along with the expected refund from the IRS in the amount of $6.1M.
It would be problematic for the International to distribute approximately $85M now. This would leave approximately $6.1M for the second distribution.
When using the formula to calculate how much every member receives using only $6.1M, members who receive smaller amounts due to their pay and seniority could receive a fraction of a dollar or less. All of our members who received shares during the first rounds of distribution, deserve their full share of the entire approximate $91M.
When should you expect your checks?
Our understanding is the checks will be mailed out from June 11 – June 22, 2018 for the first distribution.
We still don’t know when the second distribution checks will be mailed out. The International is waiting on the refund check from the IRS. We will update as we receive new information.
Will the formula for distribution be the same as before?
Yes, with one exception, we are told the B757 portion has been paid in full. The remaining categories will be: Pension, Scope, Me Too, and Health
How much will I receive?
The first distribution is now posted in your Computershare account Here: Https://Computershare.com/aal
Computershare Access information
There are forgot userid and forgot password reset prompts on the Computershare login page. If you are still unable to login, you’ll have to call Computershare
If this is your first time to log in, your global identifier is your social security number and your PIN is the one provided to you by Computershare.
If you don’t remember your PIN/password, call Computershare so they can reset it for you. They can be reached at 1-888-608-2588 (domestic) and 1-781-575-4351 (international). Press “0” or say “representative” three times to be connected with a member of the team who can help you.
I hope this helps to clarify some of your questions. If you have any further questions, please feel free to reach me at (918) 845-8059 or email at [email protected].
Fraternally,
Jay Potter
Recording Secretary, Local 514
Equity Has Finally Arrived
Why is the International using two (2) distributions for our equity?
The International has been advised to distribute the equity in two (2) distributions. The first distribution will be approximately $55M, the second distribution will be approximately $30M from the funds along with the expected refund from the IRS in the amount of $6.1M.
It would be problematic for the International to distribute approximately $85M now. This would leave approximately $6.1M for the second distribution.
When using the formula to calculate how much every member receives using only $6.1M, members who receive smaller amounts due to their pay and seniority could receive a fraction of a dollar or less. All of our members who received shares during the first rounds of distribution, deserve their full share of the entire approximate $91M.
When should you expect your checks?
Our understanding is the checks will be mailed out from June 11 – June 22, 2018 for the first distribution.
We still don’t know when the second distribution checks will be mailed out. The International is waiting on the refund check from the IRS. We will update as we receive new information.
Will the formula for distribution be the same as before?
Yes, with one exception, we are told the B757 portion has been paid in full. The remaining categories will be: Pension, Scope, Me Too, and Health
How much will I receive?
The first distribution is now posted in your Computershare account Here: Https://Computershare.com/aal
Computershare Access information
There are forgot userid and forgot password reset prompts on the Computershare login page. If you are still unable to login, you’ll have to call Computershare
If this is your first time to log in, your global identifier is your social security number and your PIN is the one provided to you by Computershare.
If you don’t remember your PIN/password, call Computershare so they can reset it for you. They can be reached at 1-888-608-2588 (domestic) and 1-781-575-4351 (international). Press “0” or say “representative” three times to be connected with a member of the team who can help you.
I hope this helps to clarify some of your questions. If you have any further questions, please feel free to reach me at (918) 845-8059 or email at [email protected].
Fraternally,
Jay Potter
Recording Secretary, Local 514
Timid Weak Union
Member
- Oct 10, 2003
- 58
- 14
Another many years long cluster fuc of the pathetic Totally Worthless Union now the ASS!!!
TWU informer
Veteran
- Nov 4, 2003
- 7,550
- 3,731
If the AMT's at American Airlines had any sense they would each put $500 of this gift into a gofundme account to organize a Mechanics Union and take care of this Association and our alignment with majority rule other work groups. I think we were all spoiled by the days someone else would dig into their personal finances and fund the card drives. Good luck with your POS Association. That problem will only go away with a card drive and a vote!!!!
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