I Have Few Details

[700UW]

They do not have a CWA Negotiated Pension, they have no pension article in their contract.

They have a non-union frozen penison plan from 1992 if they were vested, just like every non-union worker who was employed.

Everyone is portraying it as a negotiated pension.

The IAM Fleet Service have a pension in their contract.

 

[livingontheedge]

Sorry, my tables are messy and it cut off pay senority 1.5, 1.0, and starting wage.

Anyway, my point is that the wage reductions are far from equitable. I have 10 years with USAirways but I have a pay senority of 7 years including parttime. I will take a 24% pay cut. Why are some people receiving a less percentage than the interim relief of 21% and some are taking more?

If you look at the CURRENT payscale the difference between 7 years and 10 years is 11%, much lower than 24%.

Does anyone have an explanation for this disparate treatment?

 

[PITbull]

700,

The question was not if they had a contractual pension.....

The question was...do the agents have a pension. And some do, as stated above.

Regardless of a negotiated pension with a union or not, these agents have a defined pension plan that is frozen.

Their pensions are not "distressed" and not in jeopardy.

 

[MarkMyWords]

I thought the company sought to terminated the frozen pension plan? That plan is in jeopardy too, unless something has changed.

 

[700UW]

Hate to tell you this Pitbull, but the non-union pension is $270 million in deficit (company's numbers) and the company has filed to "distress" terminate the frozen pension plan.

 

[usairways_vote_NO]

700,

The question was not if they had a contractual pension.....

The question was...do the agents have a pension. And some do, as stated above.

Regardless of a negotiated pension with a union or not, these agents have a defined pension plan that is frozen.

Their pensions are not "distressed" and not in jeopardy.

[post="206120"][/post]​

700 first says they don't have a pension when in reality they have a frozen pension so then he changes his tune saying they don't have a pension in the contract ( a non-union pension per sir 700). It the same old crap he can't admit he is wrong. Has to change it around and argue. The thing about 700 in he sees everything in those rose colored union glasses.

 

[700UW]

Defined Benefit Plan Update

ARLINGTON (theHub.com) - A number of employees have raised questions about the company's proposed termination of the defined benefit plan that was frozen in the early 1990s. Among those covered by that plan are management, administrative, airport customer service and reservations, ramp, crew scheduling, dispatch, flight crew training instructors and flight simulator engineers who were employees in those work groups at that time.

In addition, the company's motion today also seeks the termination of the active defined benefit plans covering flight attendants and mechanics.

If you are an employee in any of these groups, you should know that the requested termination would not eliminate your pension benefit. If the Bankruptcy Court approves the terminations, the company will then work with the Pension Benefit Guaranty Corp. in the administration of plan assets and benefits. The PBGC pays most people all pension benefits, but some people may lose certain benefits that are not guaranteed.

Mailings are going out to all of the affected employees, retirees and vested former employees, informing them in more detail about the potential impact of these terminations.

 

[MarkMyWords]

Hate to tell you this Pitbull, but the non-union pension is $270 million in deficit (company's numbers) and the company has filed to "distress" terminate the frozen pension plan.

[post="206139"][/post]​

It was my understanding that the frozen pension was still fully funded and would not require a company contribution until 2007, but the comapny was still seeking to terminate the pension plan.

 

[deano]

The thing about 700 in he sees everything in those rose colored union glasses.

[post="206140"][/post]​

I personally prefer the aqua tinted flavor glasses it makes me feel like I am drowning when I read the boards, sort of like being an U employee again bringing back those repugnant memories.

700UW is 700UW, let him alone he is harmless.

 

[700UW]

Here are two Articles that contain some information too.

http://www.post-gazette.com/pg/04339/421742.stm

http://pittsburghlive.com/x/tribune-review...l/s_279713.html

Highlights include :

Average pay cuts of 13 percent.

Pension changes.

Buyouts of up to $20,000, plus one year's medical coverage.

[post="206083"][/post]​

Hey UVN in your zealous attempt to say I am wrong, there is the post I replied too.

MWM Cleary states pension changes, I replied they do not have a pension, his post was referring back to the T/A for the CWA, there is no mention of pension changes as their is not negotiated Defined Pension Plan for the CWA members.

That is what this thread is details of the T/A for the CWA.

Keep trying though.

 

[usairways_vote_NO]

Defined Benefit Plan Update

ARLINGTON (theHub.com) -

[post="206141"][/post]​

You have more for some reason couldn't find the words distressed termination.

 

[700UW]

When a pension is terminated in court by a company in bankruptcy is "distressed".

Go Educate yourself

4. When can an employer end a pension plan?

Employers can end a pension plan through a process called “plan termination.â€￾ There are two ways an employer can terminate its pension plan.

The employer can end the plan in a standard termination but only after showing PBGC that the plan has enough money to pay all benefits owed to participants. The plan must either purchase an annuity from an insurance company (which will provide you with lifetime benefits when you retire) or, if your plan allows, issue one lump-sum payment that covers your entire benefit. Before purchasing your annuity, your plan administrator must give you an advance notice that identifies the insurance company (or companies) that your employer may select to provide the annuity. PBGC’s guarantee ends when your employer purchases your annuity or gives you the lump-sum payment.

If the plan is not fully funded, the employer may apply for a distress termination if the employer is in financial distress. To do so, however, the employer must prove to a bankruptcy court or to PBGC that the employer cannot remain in business unless the plan is terminated. If the application is granted, PBGC will take over the plan as trustee and pay plan benefits, up to the legal limits, using plan assets and PBGC guarantee funds.

Gee is the plan fully funded?

PBGC

Are you taking NFS's place of being obessed?

 

[PITbull]

I don't know 700, and I could be wrong...but there was no mention of the agents frozen pensions under the motion for termination.

 

[usairways_vote_NO]

Hey UVN in your zealous attempt to say I am wrong, there is the post I replied too.

MWM Cleary states pension changes, I replied they do not have a pension, his post was referring back to the T/A for the CWA, there is no mention of pension changes as their is not negotiated Defined Pension Plan for the CWA members.

That is what this thread is details of the T/A for the CWA.

Keep trying though.

[post="206144"][/post]​

What are you talking about MarkMyWorks was quoting word for word from the article and as a matter of fact the article said the union released those details.

 

[MarkMyWords]

I am relaying the information that I had been presented with. Where did you get your figure of 270 million?