IAM Pension Fund
- Thread starter JABORD
- Start date
robbedagain
Veteran
- Oct 13, 2003
- 11,125
- 2,676
who said ROA supported the selling out of small cities.... hint hint we were at the mercy of a judge at that time but this does not have anything to with the pension.....
TRAVIS
Veteran
LOL its not TIM.. Josh I see they showed you the way out of the corn field...have a good one. Coffee is on me next time.roabilly said:
OK BACK TO THE IAMNPF AND HOW TO TIE A NOOSE AROUND YOUR MEMBERS NECKS...
Real tired
Veteran
Why do you keep advocating this?WeAAsles said:
True, the key to financial success in retirement is diversification, and the IAMNPF might be one small part of the diversification, but the main part is control of your money and your future, and with the IAMNPF, you lose control of you own money.
Your link to the green zone notice doesn't tell the whole story. And why? Because you weren't around to see how we got there.
Back in '08, after 3 years of resisting, The IAM hoodwinked us (Maintenance) by underhandedly writing in the IAMNPF into the "do or die" Transition Agreement of 2008.
Soon after that, the plan entered "Endangered Status",and due to that fact, the plan administrators had to come up with a way to keep the IAMNPF from going default, and into the PBGC where your pension money would be worth only 35 cents on the dollar.
And how did they do it? Because of the WRERA of '06, the plan administrators were allowed to re-amortize the debit of the plan over a longer term. That's why it's in the green zone today.
In simpler terms, it would be like taking all three of your high interest credit card debits, with their high monthly payments, and putting them into a debit consolidation loan. Your monthly payments are lower, and it's over a longer term, but you still owe all the money, and then some.
But the debit is still due. It's just at a later date. Just ask our Fleet Service people. They've already paid part of the debit. Maintenance hasn't yet. But we will, because the money is still owed. We've never had an increase in our multiplier, but we've never had it cut like the Fleet people did.
Is this what you people at AA want? A vehicle for your money that could have the rug pulled out from under it at any moment just like it has been done before?
The debit is still due, and the only thing that will keep the plan solvent and "green", is more participants. I can think of about 11,000 underpaid, awe-struck, poor saps at AA that might fit the bill. But that's your choice. Because if there is another sharp downturn in the stock market, pity the poor IAMNPF plan participant of the future.
That's why most of us want out. We don't want to pay the debit on something we didn't want in the first place.
WeAAsles
Veteran
- Oct 20, 2007
- 23,539
- 5,263
Posting information does not mean that someone is an advocate or that I am an advocate for participating in the plan. I have said that I will if the moment arrives view my available options and make the most informed choice I can make.Real tired said:
I've also stated quite clearly that at least on my side I would be fine with a choice being made available but I would not be interested in the pension fund being thrust on us against losing a 401 match.
Tim Nelson
Veteran
he is an old hateful man that needs to enjoy his retirement. The goof sees ghost behind every poster then snaps that its me and goes into barbie tantrum mode.TRAVIS said:
The reality is that he treasures the iampf and is incapable of understanding how he got hosed or how much money he could have made. Instead he is doing backflips over $900 a month. But even he determined that the new january 2014 $47 rate was bad enuf to force him into retirement.
roabilly
Veteran
- Feb 17, 2008
- 2,136
- 2,355
Nelson, I was not "forced" into retirement; it was decades of planning, and good fortune. It had absolutely NOTHING to with the IAMNPF Go ahead... make your little videos, and use your deceptive practices all you want. They will have exactly the SAME affect as they did in you elections! ZILCH...
Your continued lies only serve to bury you deeper, why do you think your are on the TWU's radar as a potential enemy?
Your continued lies only serve to bury you deeper, why do you think your are on the TWU's radar as a potential enemy?
IAM Member Here
Member
- Nov 23, 2011
- 68
- 53
When the IAM cut the rate, he was one of the few members who defended it. Not surprised that his plan was to retire with the higher rate all along.Tim Nelson said:
