still that makes it true that they can see the future and know for sure that is the way it is going to be, then why did'nt they give a specific amount and tell what would happen to members that only have a fes years until retirement???
IAM Welcomes America West Maintenance Instructors
- Thread starter 700UW
- Start date
still that makes it true that they can see the future and know for sure that is the way it is going to be, then why did'nt they give a specific amount and tell what would happen to members that only have a fes years until retirement???
I do not understand in this day and age why unions still negotiate for pension plans as opposed to having the company contribute a larger share into a 401k instead. The money is yours year one or year 21. Strong unionization in a company is directly detrimental to long term operational ability (see steel, auto, airline industries) without bankruptcy interceding. The stronger the work protections and the higher the wages negotiated the less chance a pension can last years down the road. And the more chance it will be used as a bargaining chip in times of trouble.
So why not negotiate the highest possible contribution to a 401k from the company as possible?
So why not negotiate the highest possible contribution to a 401k from the company as possible?
- Thread Starter
- Thread starter
- Banned
- #33
Dollar amounts were not given out to any members because there was only initial dicussion and the # is fluid until the negotiations progress further.
Is that too hard to understand?
Right now the ibt filing for an election has held up the process of securing a better pension for all the mechanic and related.
Because a 401k is money out of your pocket and a pension plan is not.
Is that too hard to understand?
Right now the ibt filing for an election has held up the process of securing a better pension for all the mechanic and related.
Because a 401k is money out of your pocket and a pension plan is not.
Openview, I am glad some one else can see the fact that Pensions, however they are sliced, are not guaranteed, just ask many airline and other industry's workers that have lost all or most of there retirement due to BK's and corporate greed. Albeit a 401 k can suffer from other problems such as bad investment strategies etc.. butthere are still IRA's and good sound investments to be made in a 401k that far out perform a pension..
Why should we all have to take less pay, for a pension that might not be there...
Are you that financially un-eduacated... the money you put into your 401k is still in your pocket.. even more because you won't pay tax on it!!!!
Why should we all have to take less pay, for a pension that might not be there...
Are you that financially un-eduacated... the money you put into your 401k is still in your pocket.. even more because you won't pay tax on it!!!!
- Thread Starter
- Thread starter
- Banned
- #35
Pensions are gauranted,
Guess you never heard of the PBGC?
Just because all groups at US had our Defined Benefit Plans terminated our benefits (some reduced) will still be paid by the PBGC, you dont lose your pension.
The IAMNPF is a multi-employer plan, meaning if your company goes out of business your pension will still be paid at maximum benefit levels and not reduced.
Is your 401K gauranteed?
Go ask all the people that lost thousands on US stock, Enron, and when the market drops your 401k drops, plus a pension plan is not money out of your pocket while a 401k is money that is earned by you.
The 401k money is not in your pocket, is has stringent requirements to get to it in case of need and you are taxed on it when you start drawing down on it. You get less money per week in your check as the 401k money is deferred income.
Guess you never heard of the PBGC?
Just because all groups at US had our Defined Benefit Plans terminated our benefits (some reduced) will still be paid by the PBGC, you dont lose your pension.
The IAMNPF is a multi-employer plan, meaning if your company goes out of business your pension will still be paid at maximum benefit levels and not reduced.
Is your 401K gauranteed?
Go ask all the people that lost thousands on US stock, Enron, and when the market drops your 401k drops, plus a pension plan is not money out of your pocket while a 401k is money that is earned by you.
The 401k money is not in your pocket, is has stringent requirements to get to it in case of need and you are taxed on it when you start drawing down on it. You get less money per week in your check as the 401k money is deferred income.
"Because a 401k is money out of your pocket and a pension plan is not"
What do you mean 401k money comes out of our pocket, don't you think that a pension will cost you money. Think about it the company is going to have to get it from someone and that someone will be us. I would rather have a 401K with a match that I can manage than a pension that a BK court can cancel. 401K money is mine!!!
What do you mean 401k money comes out of our pocket, don't you think that a pension will cost you money. Think about it the company is going to have to get it from someone and that someone will be us. I would rather have a 401K with a match that I can manage than a pension that a BK court can cancel. 401K money is mine!!!
- Thread Starter
- Thread starter
- Banned
- #38
Once again you all distort the facts.
A pension plan such as the IAMPF cannot be terminated by the courts, it is a multi-employer plan that will pay you full benefits no matter what happens to your company.
The IAMNPF benefits are not lowered due to the stock market swings unlike your 401k.
Funny I had a DBP for 17 years and it did not cost me a penny nor does the current DCP plan, but the 401k money is my money out of my check every single week lowering my take home income.
A pension plan such as the IAMPF cannot be terminated by the courts, it is a multi-employer plan that will pay you full benefits no matter what happens to your company.
The IAMNPF benefits are not lowered due to the stock market swings unlike your 401k.
Funny I had a DBP for 17 years and it did not cost me a penny nor does the current DCP plan, but the 401k money is my money out of my check every single week lowering my take home income.
Dog Wonder
Veteran
OK, how about this. The HP MTC Instructors are outnumbered at least three to one. Of the IAM represented groups in the East MTC Training was the most recently certified and, I believe, was able to reach agreement with the company on concessions without being under threat of contract abrogation.
This was a tough nut to crack for the West trainers. Although some one tried.
By the iam trying to get my 401k money is a vote for ibt.
The company match and 401k company contribution is mine.
Any union should keep their hands off our money.
Why not get us into the iampf without touching our money. That might sway some votes if there is an upcoming election.
The company match and 401k company contribution is mine.
Any union should keep their hands off our money.
Why not get us into the iampf without touching our money. That might sway some votes if there is an upcoming election.
