JCBA Negotiations and updates for AA Fleet. **New and improved 2.0 version**
- Thread starter WeAAsles
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Tim,
An individual could take a hit of 50% on the pension and still be ahead of the 401k option in the scenario I gave earlier. Again math. I asked you about part time scenarios and negotiating to get charged for money to go back in the company's pocket. You going to answer?
P. Rez
Tim Nelson
Veteran
Doubt it. Vut the membership pays for a grand lodge pensionfor him. Aint right. It isnt his fault but these guys are fat cats. They dont pay for health care, get another big fat pension, etc.
I wasn't an international officer. I'm not sure if they even get pensions at the TWU international. I was under a 401k match at AWA like all the other employees. 50 cents of every dollar I put in up to 6%.
P. Rez
Tim Nelson
Veteran
Josh
Talbert/700 doesnt know
Traymark,
I'm not saying you should have to take it, but, the MATH is what it it is. FACT.
P. Rez
The ”math” may well indicate that but you haven’t adjusted for risk and the probability of default and/or reductions in payments to plan participants and future beneficiaries. Hasn’t the IAMNPF done that several times now? Have you compared the accurarial value vs. fair value of the plans assets and liabilities? The plan may tout that its 101% funded but that’s on an accurial value basis, the fair value analysis published by Credit Suisse several years ago is more conservative and paints a very different picture.
Josh
Tim Nelson
Veteran
Josh, it was 95% but 89% using the conservative approach. Both numbers may be in the 80s next month when it reports.
But, the 401k is the way to go for anyone working OT. The pension just doesnt add up. Part time gets a major upgrade
Weez Tim has had several union positions with DL 141 and IAM Lodge 1487, what official roles have you had with the TWU? You’ve attended a few rallies and engage in the DL organizing groups online but what official TWU role have you had-either elected or appointed?
Josh
Bottom line is based on actions from the DOL I would take anything from the IAMNPF with a huge grain of salt. I know in the past you’ve tried to get more detailed information from them as an active participant and I think in one of your videos indicated it was not easy to obtain. Have they provided you an updated actuarial report?
Josh
Tim Nelson
Veteran
We will be reviewing key do uments at a meeting in late April, regarding the pension crisis.
Tim Nelson
Veteran
I have and did with several positions ive held. But now i just focus on member rights and democracy and destroying the greed and nepotism before the iam dies.
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