That's a great question, Josh. First off it's a win/win for the company and the IAM members since the company doesn't want the increased liability and wants to avoid the withdrawal fee. A win for the members insomuch that more money will be dumped into their benefits by the company and it won't be limited to just 40 hours a week or 1600 hours a year. $$$. This is true, as is. However, it's even better to get the hell out of the IAMNPF as a matter of smarts realizing that the IAM Pension Trustees will cut the pension again to keep it afloat, so it doesn't make much sense to allow them to steal half of our pension a second time. In America we say "Fool me once shame on me, fool......."
The damage to the fund will be extensive. American Airlines makes up 13% of the total plan participants, i.e., out of 95,000 participants, we are 12,000. It will tilt the fund like a teeter to about 70% of all participants are retired. Warning Will Robinson! Whatever the case, I'm thoroughly excited to start building my retirement by getting the hell out of this scam plan.