JCBA Negotiations and updates for AA Fleet

[P. REZ]

I've gone on record before and brief this in my assigned stations or to anyone who cares to listen. I prefer the pension if forced to choose. I have both and would personally like to have the pension and an automatic match in my 401k.

When AW merged with US, AW had a 401k match and US had the pension. AW employees lost the 401k match and went into the IAM pension. Regardless of whether an AW employee was active in a 401k or not, BTW, only about 25% were active, all of us were vested as long as we were with the Company for 5 years and had the ability to be in the 401k.

P. Rez

 

[WeAAsles]

I've gone on record before and brief this in my assigned stations or to anyone who cares to listen. I prefer the pension if forced to choose. I have both and would personally like to have the pension and an automatic match in my 401k.

When AW merged with US, AW had a 401k match and US had the pension. AW employees lost the 401k match and went into the IAM pension. Regardless of whether an AW employee was active in a 401k or not, BTW, only about 25% were active, all of us were vested as long as we were with the Company for 5 years and had the ability to be in the 401k.

P. Rez

I don't personally see any reason why AA can't (for Fleet) at least match what they have over there now at UAL?

But I really do wish people would get past the fear that you all are a bunch of Midnight thieves trying to climb in our window and run off with our Frozen Pension.

I guess the only way some people are ever going to get that out of their heads is when they see their JCBA's they need to vote on?

 

[WeAAsles]

P. Rez do you know when the release will be made on the funding levels for 2016?

 

[P. REZ]

View attachment 11606

P. Rez do you know when the release will be made on the funding levels for 2016?

I believe this month.

 

[OldGuy@AA]

I've gone on record before and brief this in my assigned stations or to anyone who cares to listen. I prefer the pension if forced to choose. I have both and would personally like to have the pension and an automatic match in my 401k.

When AW merged with US, AW had a 401k match and US had the pension. AW employees lost the 401k match and went into the IAM pension. Regardless of whether an AW employee was active in a 401k or not, BTW, only about 25% were active, all of us were vested as long as we were with the Company for 5 years and had the ability to be in the 401k.

P. Rez

That is your choice. My choice would be to stay away from it. The point is I don't want to be forced into it. Honestly I am getting tired of the IAM with 1/3 the membership we have calling all the shots.

 

[P. REZ]

That is your choice. My choice would be to stay away from it. The point is I don't want to be forced into it. Honestly I am getting tired of the IAM with 1/3 the membership we have calling all the shots.

Correct, I am one of 12 on the NC and that is my choice. You will have a voice when you cast your vote for all that is included in the joint CBA. I respect your vote.

P. Rez

 

[OldGuy@AA]

Correct, I am one of 12 on the NC and that is my choice. You will have a voice when you cast your vote for all that is included in the joint CBA. I respect your vote.

P. Rez

We haven't had a voice yet.

 

[OldGuy@AA]

And for the record. It is Mark Loeber who is the retirement counselor. I apologize for the mistake.

 

[WeAAsles]

And for the record. It is Mark Loeber who is the retirement counselor. I apologize for the mistake.

Ok OldGuy nothing personal to this man because I'm sure in most areas he's quite capable. But if he really has been telling you the things you said without filling in all the blanks, I'm going to continue to stick with doing my own Retirement financial planning and research.

https://twu514.org/blog/2014/08/07/twu-local-514-retirement-counselor-mark-loeber/

 

[anotherdelay]

Ok OldGuy nothing personal to this man because I'm sure in most areas he's quite capable. But if he really has been telling you the things you said without filling in all the blanks, I'm going to continue to stick with doing my own Retirement financial planning and research.

https://twu514.org/blog/2014/08/07/twu-local-514-retirement-counselor-mark-loeber/

 

[WeAAsles]

I just looked at their webpage and this man certainly has done lots of stuff for lots of people. But I tried to find out what his educational background is and I'm coming up short?

As a matter of fact this whole list of people mention nothing about where they were educated?

Now they are all firmly ensconced in all sorts of Christian organizations and activities so I guess that has to count for something or other?

http://www.tagpg.org/AboutUs.aspx

 

[anotherdelay]

the sooner iam gets out of the pension business the better for everybody. Its the elephant in the room, and its most likely a disaster due to low interest rates, and the fact due to the way markets work, especially now, with low interest rates, pension funds have become obsolete. Answer me Prez what is the expected rate of return for the iam pension funds, what is the 10 year yield today? Please don't put any more members at risk in the plan. Have a conscious.

 

[P. REZ]

http://www.newsmax.com/Finance/TrevorGerszt/401k-retirement-sole-support/2017/01/10/id/767859/

 

[WeAAsles]

And for the record. It is Mark Loeber who is the retirement counselor. I apologize for the mistake.

I found this written about him. It says that he has a degree but it doesn't mention at all what College he graduated from?

So far this is kind of weird?

http://www.homeofhope.com/staff.html

 

[anotherdelay]

http://www.newsmax.com/Finance/TrevorGerszt/401k-retirement-sole-support/2017/01/10/id/767859/[/QUOTE

Pres answer the question for us. What the rate of return expected to keep the iam plan solvent?