Equity Update
- Thread starter Steel Curtain
- Start date
OP
Steel Curtain
Newbie
- Aug 7, 2012
- 8
- 3
- Thread Starter
- Thread starter
- #392
Does anyone have any info on the second distribution? I don't remember seeing anything dealing with the leftover money. Thanks.
- Aug 20, 2002
- 7,319
- 1,555
I will step out there and say the TWU?
gulfcoast1
Senior
- Apr 10, 2016
- 394
- 30
At the Union Meeting last month they made it sound like it would be several months. First, they were waiting on the return of the deposit being held by the IRS. I am not even sure if it has been returned. Then they have to look into claims from members questioning if their amount was correct and do a final accounting. I am assuming it will be this year, but I don't think the officials want to give a timeline this early after the previous delays. My guess would be before the holidays, but that is a guess and not based on anything I have heard from the TWU.
gulfcoast1
Senior
- Apr 10, 2016
- 394
- 30
I would think it would be in everyone's interests to get the checks in the mail before December 31. If they do not that will mean more W2's for everyone next year.
D
Deleted member 14439
Guest
I`d be surprised if we see it in 2018
AANOTOK
Veteran
- Oct 10, 2009
- 4,627
- 2,242
Me too.
gulfcoast1
Senior
- Apr 10, 2016
- 394
- 30
Not getting it this year will increase the cost. Mailing out W2's twice instead of once will cost money.
September 24, 2018
:
TO: AA Locals 501 – 591
RE: TWU Reserve/Equity Fund Distribution Update
:
Dear Brothers and Sisters:
As a follow up to Friday’s conference call with TWU American Airlines Presidents, below is a summary of the latest developments, with respect to the TWU Reserve/Equity fund distribution:
• First and foremost, the next equity distribution of $35,900,000 is expected to go out for distribution to eligible members in November. This distribution will follow the same methodology that was used previously, which was established by the Equity Committee.
• The company has notified TWU that it is on track to provide the necessary tax payer information to Computershare for the November distribution. No different than before, the company must provide this information to Computershare, since TWU does not employ our members and TWU does not have the necessary individual tax payer information for each member needed for this type of distribution.
• The distribution of the funds from Computershare will be made by check and mailed to each eligible employee’s last known address on file with the Company.
• Also, the same as last time, a legal determination, in accordance with IRS rules and regulations, has been requested with respect to the withholding of income taxes on the equity distributions to be made in accordance with the following formula:
:
1. For active employees and those on leave of absence, or those who have since left the company via retirement, termination or otherwise and are still alive, American Airlines will issue a W2 and withhold applicable taxes;
2. For employees, deceased after 1/1/2018, American Airlines will issue a W2 with and will withhold applicable taxes; and
3. For employees deceased prior to 1/1/2018, Computershare will issue a 1099 form and no taxes will be withheld.
:
Let’s not forget that this equity distribution is not a bonus, nor does this money repay us for the sacrifices we have been forced to endure through bankruptcy or the airline’s merger; in order for American to become the world’s largest airline.
:
TWU International will continue to provide any new or additional information and details to you as soon as they become available.
:
Fraternally,
Gary Peterson
TWU International Vice President
:
TO: AA Locals 501 – 591
RE: TWU Reserve/Equity Fund Distribution Update
:
Dear Brothers and Sisters:
As a follow up to Friday’s conference call with TWU American Airlines Presidents, below is a summary of the latest developments, with respect to the TWU Reserve/Equity fund distribution:
• First and foremost, the next equity distribution of $35,900,000 is expected to go out for distribution to eligible members in November. This distribution will follow the same methodology that was used previously, which was established by the Equity Committee.
• The company has notified TWU that it is on track to provide the necessary tax payer information to Computershare for the November distribution. No different than before, the company must provide this information to Computershare, since TWU does not employ our members and TWU does not have the necessary individual tax payer information for each member needed for this type of distribution.
• The distribution of the funds from Computershare will be made by check and mailed to each eligible employee’s last known address on file with the Company.
• Also, the same as last time, a legal determination, in accordance with IRS rules and regulations, has been requested with respect to the withholding of income taxes on the equity distributions to be made in accordance with the following formula:
:
1. For active employees and those on leave of absence, or those who have since left the company via retirement, termination or otherwise and are still alive, American Airlines will issue a W2 and withhold applicable taxes;
2. For employees, deceased after 1/1/2018, American Airlines will issue a W2 with and will withhold applicable taxes; and
3. For employees deceased prior to 1/1/2018, Computershare will issue a 1099 form and no taxes will be withheld.
:
Let’s not forget that this equity distribution is not a bonus, nor does this money repay us for the sacrifices we have been forced to endure through bankruptcy or the airline’s merger; in order for American to become the world’s largest airline.
:
TWU International will continue to provide any new or additional information and details to you as soon as they become available.
:
Fraternally,
Gary Peterson
TWU International Vice President
WeAAsles
Veteran
- Oct 20, 2007
- 23,651
- 5,275
TWU Reserve/Equity Fund Distribution Update
Dear Brothers and Sisters:
Below is the summary with respect to the TWU Reserve/Equity fund distribution:
•The next equity distribution of $35,900,000 will be mailed out to eligible members on November 7th . This distribution will follow the same methodology that was used previously, which was established by the Equity Committee.
•No different than before, the company must provide the necessary tax information to Computershare since TWU does not employ our members and TWU does not have the necessary individual tax payer information for each member for this type of distribution.
•The distribution of the funds from Computershare will be made by check and mailed to each eligible employee’s last known address on file with the Company. Eligible participants should ensure that Computershare has their current mailing address.
•Also, the same as last time, a legal determination, in accordance with IRS rules and regulations, has been requested with respect to the withholding of income taxes on the equity distributions to be made in accordance with the following formula:
1. For active employees and those on leave of absence,or those who have since left the company via retirement, termination or otherwise and are still alive, American Airlines will issue a W2 and withhold applicable taxes;
2. For employees, deceased after 1/1/2018, American Airlines will issue a W2 with and will withhold applicable taxes; and
3. For employees deceased prior to 1/1/2018, Computershare will issue a 1099 form and no taxes will be withheld.
This equity distribution is not a bonus, nor does this money repay us for the sacrifices we have been forced to endure through bankruptcy or the airline’s merger; in order for American to become the world’s largest airline.
Fraternally,
Gary Peterson
TWU International Vice President
Dear Brothers and Sisters:
Below is the summary with respect to the TWU Reserve/Equity fund distribution:
•The next equity distribution of $35,900,000 will be mailed out to eligible members on November 7th . This distribution will follow the same methodology that was used previously, which was established by the Equity Committee.
•No different than before, the company must provide the necessary tax information to Computershare since TWU does not employ our members and TWU does not have the necessary individual tax payer information for each member for this type of distribution.
•The distribution of the funds from Computershare will be made by check and mailed to each eligible employee’s last known address on file with the Company. Eligible participants should ensure that Computershare has their current mailing address.
•Also, the same as last time, a legal determination, in accordance with IRS rules and regulations, has been requested with respect to the withholding of income taxes on the equity distributions to be made in accordance with the following formula:
1. For active employees and those on leave of absence,or those who have since left the company via retirement, termination or otherwise and are still alive, American Airlines will issue a W2 and withhold applicable taxes;
2. For employees, deceased after 1/1/2018, American Airlines will issue a W2 with and will withhold applicable taxes; and
3. For employees deceased prior to 1/1/2018, Computershare will issue a 1099 form and no taxes will be withheld.
This equity distribution is not a bonus, nor does this money repay us for the sacrifices we have been forced to endure through bankruptcy or the airline’s merger; in order for American to become the world’s largest airline.
Fraternally,
Gary Peterson
TWU International Vice President
D
Deleted member 14439
Guest
LAA, last of the equity is in computershare now.
D
Deleted member 14439
Guest
Equity check amounts now showing in epays.
1986Mekanic
Veteran
- Jun 1, 2018
- 572
- 98
Are they mailing the checks to the house?
WeAAsles
Veteran
- Oct 20, 2007
- 23,651
- 5,275
Yes. Checks should have went out yesterday.
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