IAM Stepping Up campaign

[robbedagain]

no need to worry as we know what he will say..  he'll say its false data

 

[yoyodyne]

http://www.elabs5.com/functions/social_create.html?socid=dddfd0b33dc49727ef31d7c4a807f31b6f82f9530bdbf93b9a5194fa3032bd75c329dc

How's that pension for the US fleet coming???

 

[700UW]

They have been in the IAM pension since 99.

How is your pension at DL?

Oh wait you don't have one.

 

[yoyodyne]

They have been in the IAM pension since 99. How is your pension at DL? Oh wait you don't have one.

No, but I do have a sweet 401k....

 

[700UW]

Which is you're own money, not the company's.

 

[Kev3188]

DB's & DC's are both great. The nice thing UA employees currently enjoy over us is that they have a say in which retirement vehicle they prefer.
 
Yoyo-- I agree that our 401k is "sweet," but what happens if one day they decide to make unilateral changes to it? What say do you & I have? 

 

[WorldTraveler]

DB's & DC's are both great. The nice thing UA employees currently enjoy over us is that they have a say in which retirement vehicle they prefer.
 
Yoyo-- I agree that our 401k is "sweet," but what happens if one day they decide to make unilateral changes to it? What say do you & I have? 

 
The money is completely under your control, Kevin.  The company cannot take it back.  You are free to manage it as you wish.  
 
With a DB plan, you have no control over how the company manages the retirement plan and they usually manage it fairly cautiously based on macroeconomic factors.
 
I personally receive far higher returns on my IRAs and personal retirement accounts than any DB plan get.  I wouldn't be surprised if you have achieved some healthy returns as well.  
 
You bear some risk but you also have a whole lot of upside.
 
If there is one thing the central banks learned in 2001 and then again in 2008 is the power a falling stock market has to destroy an economy - and if it is the US, European, or Japanese economy, the chances are pretty high that the global economy will take a big hit.
 
I'm not saying there can never be a serious meltdown on the stock market but so much of the economy is tied to the stock market and the economy is the number one issue in elections in any democratic country that most central banks work very, very hard to keep the stock and bond markets stable - and generally do a pretty good job.  
 
related to the IAM, it appears that UA succeeded at announcing yet another round of station outsourcing, offset perhaps by UA mainline taking back above wing work at DEN.  

 

[Kev3188]

The money is completely under your control, Kevin.  The company cannot take it back.  You are free to manage it as you wish.

Yeah, I know. I've said as much about a gazillion times on here.

Guess I should've been clearer: What happens if the company decides to unilaterally change things one can't control, like future contribution and/or matching amounts, plan options, etc.?

 

[eolesen]

the number of posts I have recorded on this forum is mid-range compared to other 10 year plus users

Yeah, not really true... you're #6 on the all-time post count, out of a couple hundred who've remained active over the past decade.

http://www.airlineforums.com/members/?sort_key=posts&sort_order=desc&max_results=50

Just guessing (because it's not worth the time and energy to calculate it), but looking at the first 5 pages of post counts, I'd put the mid-range somewhere between 2000 and 4000 posts.

 

[robbedagain]

kev  does DL contribute to your 401k at all?    when I was EN (piedmont) the company put 3% and you put 2% plus the company would match w 1%     its been a few yrs since so im not sure if they still have it  but that's from my memory.

 

[Kev3188]

They contribute 2%, and will further match another 5% dollar-for-dollar after that...

 

[737823]

Which is you're own money, not the company's.

It is still your money, the company costs it out in negotiations. The only difference is the company is the one who puts the money in the envelope. A 401(K) while subject to the day to day movements in the capital markets will not be terminated like DB pensions have.

(edited by moderator)

Josh

 

[WorldTraveler]

Yeah, I know. I've said as much about a gazillion times on here.

Guess I should've been clearer: What happens if the company decides to unilaterally change things one can't control, like future contribution and/or matching amounts, plan options, etc.?

 
sorry...
 
you do realize that even defined contribution plan also has clauses about the company's ability to unilaterally change it so it isn't really any different 
 
nothing in life is guaranteed except, well, you know
 
 

They contribute 2%, and will further match another 5% dollar-for-dollar after that...

 
which even 7% with employee contributions is at the high end of what airlines contribute.

 

[Glenn Quagmire]

you do realize that even defined contribution plan also has clauses about the company's ability to unilaterally change it so it isn't really any different 

Are you saying a company can unilaterally change a CBA negotiated pension outside of bankruptcy?

 

[blue collar]

Which is you're own money, not the company's.

Off the subject, but do you intentionally use 'your' and 'you're' backwards? Just something I've noticed, and I'm far from being a grammar nazi.
As far as it being your own money, yes it is. However, the amount of money the company is contributing to my 401k will equate to a lot more than what the pension will pay me. I also have complete control of that money, and much less stringent guidelines for getting that money when I retire.