IAM Welcomes Southwest SOS Employees Into Union

[WorldTraveler]

tell me what airlines don't have 401K plans that involve a company contribution.

and you can use the PBGC qualifier if it makes you feel good but the IRS and DOL don't say that is the differentiator that makes a plan a pension plan or not.

 

[700UW]

All IAM members at PMUS and PMUA have a 401k offered by the company but no match.

 

[WorldTraveler]

well of course we would expect the IAM to underperform the rest of the industry.

No wonder you don't see 401ks as a pension plan.

IIRC, all PMAA, DL, and WN people that have 401ks gets at least some company contribution and the amount increases dramatically if the employee also contributes.

 

[700UW]

Once again, a 401k isnt a pension plan, its not insured by the PBGC.
 
And you once forgot to post that all those IAM members have a defined benefit plan, that the company fully pays for and not funded out of your pay check, and no wages werent traded for that DBP.

 

[WorldTraveler]

and your definition of what makes a pension plan isn't accepted by the IRS or the DOL who is far more qualified to speak on the subject than you are.

so, UA and US workers make less than their peers in the same position in average wages than AA and DL personnel but the company is just providing the IAM DB plan for free and out of the goodness of their hearts?

uh huh.

 

[WNMECH]

We get a 9.3% company match to our 401K.
Plus we get profit-sharing.
I would not trade my 401K for a scam IBT or IAM pension plan.
I will get back more money from those accounts than your IAM crap.
I also don't have to jump through hoops to get it and I don't have to watch union leaders and pension fund managers lower the benefits over and over to try to keep the plan solvent.
It is my money, invested as I see fit and controlled by only me.
Those union pension plans are scams that are used to keep union members from voting out their corrupt, impotent unions.
They will string out those plans until they go bankrupt. Then turn it over to the PBGC so the rest of us taxpayers have to pick up what's left of the tab.

No thanks,
What's in your wallet?

http://money.cnn.com/2014/12/12/retirement/pension-cuts/

Under the Congressional proposal, Nicodemus could see his annual benefits plummet from around $40,000 a year to as little as $15,000.


http://www.yaliberty.org/posts/hidden-public-sector-pensions-a-horror-story



It doesn’t take a genius to see how this plays out for taxpayers and pensioners.


http://www.nytimes.com/2005/10/30/magazine/the-end-of-pensions.html?_r=0


The P.B.G.C. is now $23 billion in the red -- a deficit that is expected to grow, significantly, as more companies go under. The balance sheet for the end of September will very likely show a deficit of more than $30 billion. If nothing is done to fix the system, the Congressional Budget Office forecasts, the deficit will mushroom to more than $100 billion within two decades. This liability will almost certainly fall back on the taxpayers, since the alternative to a bailout -- letting the pension agency fail -- would force aging former auto workers and other retirees onto the street.


That one was written in 2005 and I could go on for days.

 

[700UW]

Well look at this for ALL IAM employees at WN:
 

Southwest Me-Too Clauses

January 5, 2016

To the IAM Membership at Southwest Airlines:​

 ​

As you have seen, the TWU has a tentative agreement with their Ops and Ramp agents. Congratulations to them. Like negotiations with many companies with multiple unions on the property, each union follows the other and gets more, in essence, leap-frogging each other. The IAM anticipated this when we negotiated your agreement, and to protect our members, we negotiated clauses on several issues to insure gains made by others would apply to IAM workers.
 
There are three so called “me too” clauses that could be an issue with the TWU agreement. The first states that if the TWU group receives a greater wage rate percentage increase and/or bonus percentage increase than us, we will receive that higher wage/bonus adjustment. The second protection clause relates to retro pay, with the same language as wages – if they get something higher, we get that too. The third protection is related to 401k contributions, again with the same language. In this TA, it appears the TWU will have a higher wage increase than what we have in our agreement.
 
The IAM negotiated protections provide the increased benefits at the same time they take effect for the TWU membership. If this TA is ratified by the Southwest TWU membership that would trigger the protections we have in place in our agreement. We have received many calls and emails asking about these protections, what they say and where are they in the contract. The protection agreements are signed negotiation documents, which are not in the contract book, but are the official record of negotiations.
 
At this point, we first must wait to see if the TWU TA ratifies. If that occurs, we will immediately set up a meeting with Southwest to discuss our IAM negotiated protection agreements. In the meantime, watch our website for any updates, don’t listen to rumors, get the facts from your General Chairs.

Fraternally,​

Dave Supplee
PRESIDENT & DIRECTING
GENERAL CHAIR​

 

[swamt]

Beware! "Me-too" clauses can also bite-U-in the a$$.  I would be more interested in the exact language that covers the "Me-too" clauses that you bring up. Been there done that at SWA before with the "Me-too" clause and it went south. Any grey areas what-so-ever will be challenged by the co.  Better hope all "T's" are crossed and "i's" dotted before getting the "Me-too" into a contract, it very well can bite-U-in the a$$ in the long run.  Can you post the exact language???

 

[Sparky on the Seas]

One of the courious things in our T/A was that our 401k doesn't go (like everybody else) to 9.3% untill 1/1/19. I thought it might have had something to do with that "me-too clause" as that contract expires in 2018.
 
My thinking by way of example would be this: if the wording was "this and this and that", then all three conditions would have to be meet. If the wording was "thIs or this or that", then any one of the three conditions by themselves would have to be meet. 

 

[southwind]

100 more suckers entered the IAM ponzi scheme!

 

[700UW]

You are about six months too late on  your comment.

 

[1AA]

One of the courious things in our T/A was that our 401k doesn't go (like everybody else) to 9.3% untill 1/1/19. I thought it might have had something to do with that "me-too clause" as that contract expires in 2018.
 
My thinking by way of example would be this: if the wording was "this and this and that", then all three conditions would have to be meet. If the wording was "thIs or this or that", then any one of the three conditions by themselves would have to be meet.

Congratulations on keeping your 401K plan. I bet the IAMPF is pissed.

 

[southwind]

You are about six months too late on  your comment.

So, you agree!

 

[700UW]

You really have some serious comprehension issues.

Where do you get that I agree with you?
 
I would never agree with you on anything.