IAM Pension Fund
- Thread starter JABORD
- Start date
robbedagain
Veteran
- Oct 13, 2003
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how do you know Roa sold out the small cities for catering? Do you know that to be a fact? My guess be No.
robbedagain
Veteran
- Oct 13, 2003
- 11,125
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but you mention specifically ROA it was way more than just a few peeps. Back then we were under heavy artillery attack by the crooked mgmt. and the dumb ass judge. not a whole of ammunition we cld use. which is why the ch11 laws need changing or has been change.
roabilly
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- Feb 17, 2008
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Doosh, I was not on ANY committee that had any influence over negotiations -- thus, the only input I had regarding the “small stations” you speak of, was the vote we took as members on the T/A at that time. You know full well what CLT did in that vote don’t you? We overwhelmingly voted NO... as did I as an individual!
I will say this... we would have voted the same (NO), if Catering Jobs were not protected, just as we voted no due to the outsourcing. The results would have been the same! We were determined to keep ALL jobs... unfortunately, in the aggregate we were out voted. (Ask Freedom)
I guess you will accuse the TWU of selling out the small stations so they could keep Airfreight next...
P.S. How’s the weather in ORD? When are you going back to IAH for little fun?
I will say this... we would have voted the same (NO), if Catering Jobs were not protected, just as we voted no due to the outsourcing. The results would have been the same! We were determined to keep ALL jobs... unfortunately, in the aggregate we were out voted. (Ask Freedom)
I guess you will accuse the TWU of selling out the small stations so they could keep Airfreight next...
P.S. How’s the weather in ORD? When are you going back to IAH for little fun?
Again I am not Tim Nelson. Why is it okay for you to keep saying I am Tim but I can't say BLUTO is Dave L.?roabilly said:
You worked in catering, do you feel in good conscience staying in that job while your coworkers at small stations hit the street? Funny you like everyone else here keep harping on Freedom, he was one vote. Hopefully TWU AA cargo at the five hubs will prevail over US IAM catering.
Is it true there was rampant theft of mini liquor bottles at the mainline catering stations but not contract stations?
Josh
robbedagain
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- Oct 13, 2003
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he did not sign dave given that we all are dave here!!!
AMFAinMIAMI
Veteran
I have a few questions about your IAMNPF.
1. From my understanding your plan is a multi-employer plan, as more and more employers withdraw from the fund how is it going to be able to stay funded when more people are drawing from it than are putting into it?
2. Looking at the employer trustees, David Leib the Treasuer is the only airline employee from the company side, what do the other trustees know about our requirements after we retire and why should they have a say as to what we do if we are required to return to work due to finaancial family hardships. isn't it true that if you return to work the IAMNPF can stop payments to you if you return to a job within the same industry?
3. I understand you have it in your contract, and as long as the contract is in place the company has to put money into the plan. If and when a JCBA is negotiated do you think that AA will continue to fund this plan while all other LAA employees are under a 401K plan?
4. Have you calculated the amount of your payment since you have been in this plan since what (2008)?
5. If you have a 401k on your own which plan has done better $$$$$?
6. why is the IAM saying they will stop payments into the plan from AA if you vote out this Association and or the IAM as the union?
7. If the mechanics vote out the IAM and bring in AMFA, why would the IAM stop contributions into your plan if the contract has not become ammendable?
8. Have you asked these questions to your IAM Leaders?
1. From my understanding your plan is a multi-employer plan, as more and more employers withdraw from the fund how is it going to be able to stay funded when more people are drawing from it than are putting into it?
2. Looking at the employer trustees, David Leib the Treasuer is the only airline employee from the company side, what do the other trustees know about our requirements after we retire and why should they have a say as to what we do if we are required to return to work due to finaancial family hardships. isn't it true that if you return to work the IAMNPF can stop payments to you if you return to a job within the same industry?
3. I understand you have it in your contract, and as long as the contract is in place the company has to put money into the plan. If and when a JCBA is negotiated do you think that AA will continue to fund this plan while all other LAA employees are under a 401K plan?
4. Have you calculated the amount of your payment since you have been in this plan since what (2008)?
5. If you have a 401k on your own which plan has done better $$$$$?
6. why is the IAM saying they will stop payments into the plan from AA if you vote out this Association and or the IAM as the union?
7. If the mechanics vote out the IAM and bring in AMFA, why would the IAM stop contributions into your plan if the contract has not become ammendable?
8. Have you asked these questions to your IAM Leaders?
Real tired
Veteran
Understood. Thanks for clarifying. Having a choice is key.WeAAsles said:
Real tired
Veteran
AMFAinMIAMI said:
1. Think about it. Find more participants, cut the future benefits, extend the debit in the future, default to the PBGC.AMFAinMIAMI said:
2. Yes. Any IAM shop or related industry.
3. Though question. In my opinion, i do not see it.
4. 2014 = $ 540.43
5. 401K. But there are differences. The pension is a check you can rely on each month at retirement, the 401k you start pulling at 59 1/2, and required to do so at 70 1/2.
6. Threats
7. If the IAM is no longer the bargaining agent, even though the contract is still in place, I think the rule is they can stop contributing.
8. Yes
Find more here:
http://mypension.iamnpf.org/media/13829/IAM_SPD_11.pdf
WeAAsles
Veteran
- Oct 20, 2007
- 23,539
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Let's try and take a different approach with this one. According to the IAM negotiated mechanic contract those retirement funds are to be contributed to the IAMPF. Just like any money manager there are people working that need to be paid to manage your money. If you are no longer represented by that organization it would be like trying to require them to watch over your money even though you are no longer paying them to do so. Why should they be required to do so? Yes they negotiated your contract but they are no longer the one's holding or administering it. You hired someone else to look out for your interests.AMFAinMIAMI said:
The company is required under the CBA to contribute to the IAMPF yes. But since you are no longer a dues paying member of the organization they are not required to accept your money. So what happens to that money then? Good question.
If there is nothing in writing to specify where the company needs to place the money if the IAMPF is no longer accepting it, then it's like doling out a check that's never cashed. The company no longer has to meet the requirements of the contract because there is no way for them to do so. No alternative was specified in writing.
Now yes of course the IAMPF is obligated to manage the money that was put in up to the day you no longer became represented by the IAM. So your accumulations would be frozen on that day.
Now I do believe even if you changed representation that the company would still want a fairly quick resolution to getting a JCBA to capture the synergies that go with that. But the reality is that there is no timeline. Both sides currently have CBA's that run until 2018 and under the NMB rules we know that it could take years longer to get to a contract? So the question needs to be asked what would happen to that lost income in the time being. Your new union could argue or grieve over it but there is no language again to win. Even an arbitrator would probably rule against you since you have no language.
Maybe the company would be gracious enough to put that money on the side until it's decided what to do with it? Maybe?
And this whole scenario is only on the US side since on the AA side we get a 5.5% 401k match and nothing would affect that.
Here's a link to the contract to try to see if there is any language specifying this issue?
http://twu514.org/files/2012/04/USA-IAM-Mx-Agreement-Effective-April-3-2008.pdf
Real tired
Veteran
Funny you should say that.WeAAsles said:
Hopefully you’ll see the similarities.
Back before the T/A between USAirways and America West Maintenance and Related was ratified in April of ’08, we at US had $50 per week placed by the company into our company 401K plan. It showed up every week in our paychecks for close to 3 years.
The second that contract was ratified, that addition to our paycheck stopped. And there was a period there, and as I remember it was about 6 weeks, where we were not officially in the IAMNPF nor were we getting the $50 per week placed in our 401K.
Where was that money going? Was it going to the IAMNPF that we weren’t officially in yet? Was it going into our 410K? Because it sure wasn’t showing up in our paychecks.
We the union was asked that question, they didn’t have an answer, and as I remember, that’s just how they said it. “We don’t have an answer for that.”
Well, due to the fact that your typical USAirways IAM member is apathetic, beaten down, and tired of fighting, we never did pursue that answer, and never found out where the money went.
So what would happen in your scenario, where we changed bargaining agents and the contract was still in effect? You’ll never know. The money would still come out, but only the company or the union would know where it went.
