JCBA Negotiations and updates for AA Fleet

[WeAAsles]

gulfcoast1,

IMO, there are 3 big hurdles:

1. Scope
2. Health Insurance
3. Pension/401K

I believe based on the letter signed by Gless and Pantoja in 2014, that the pension is very important in these talks. When I walk my breakrooms, I have stated that I would personally be in favor of both the pension and 401K match. That seems to be fine with both the 401K preference crowd as well as the pension preference crowd. As CB stated a week ago or so, I worry about the pension. Also, I worry about the 401K. We are in an 8 year bull market, which is the 2nd longest bull market ever I believe. When the bull market ends, it's usually not pretty with 20% declines off previous highs. Give me a crystal ball and I can tell you which would be best moving forward. There are 5 weeks scheduled for negotiations through the end of July. IMO, there is a possibility we have a deal by then but of course that depends on the progress made on the 3 big hurdles mentioned above.

P. Rez

Good advice from the Oracle of Omaha if and or when that bubble does burst again. (They always do eventually)

https://finance.yahoo.com/news/warren-buffett-says-want-steady-130000688.html

 

[anotherdelay]

It's actually just scope. Our healthcare could be better, throw out the iam's plan for now, the company plan for all us is fine. The pension is a no go, because of liability, and due diligence. There will be due diligence lawsuits if anyone is forced in. Too many people know the scam, ask any TWU Union official, twu local President what the membership says. The Unions working with fidelity, should/could help people with retirement. Fidelity is a members friend. When the market does correct or stalls out, members can still dollar cost average. The iampf will go dark. good intentions is fine, but its underfunded, to say the least. Twu will still support the iam members for choice.

 

[Traymark]

As CB stated a week ago or so, I worry about the pension. Also, I worry about the 401K. We are in an 8 year bull market, which is the 2nd longest bull market ever I believe. When the bull market ends, it's usually not pretty with 20% declines off previous highs.

All due respect PRez,
give me the 401K and the 20% decline and TOTAL control over whats left of my money , over the pension ALSO taking that 20% decline (pensions are invested in the market), and ZERO control over whats left of my money.

 

[anotherdelay]

and I would like to say. This association can kiss my Eastern Southside, especially on a sunny day. Prez and CB are making a 130k a year, for what? That's a SIN, and anything they say should not be trusted, ours making half that, the same.

 

[anotherdelay]

All due respect PRez,
give me the 401K and the 20% decline and TOTAL control over whats left of my money , over the pension ALSO taking that 20% decline (pensions are invested in the market), and ZERO control over whats left of my money.

The Prez guy is making 130k a year. He's a dues collector.

 

[bob@las-AA]

Absolutely. You can do your own math of course but considering our raise already and at least the low ball number of another 2% in wage gains we can easily make up for any loss to the 2.5% ourselves or invest however we feel works best for us as individuals.

Not to mention of course if we could find our way home to the original 7% that's $2.12 more from where we are now. (Not counting yearly increases)

$2.12 x 40 x 4 = $339.00 x 12 = $4070.00 per year. Now consider the increase to your Social Security and the increase to your 401k if you contribute the entirety into your account compounded over the time you have left till retirement.

$2.12 x 2080 (FT yearly hours) = $4409.60

 

[WeAAsles]

$2.12 x 2080 (FT yearly hours) = $4409.60

Thank you Bob. It was a test to see if you were lurking and would correct my mathematical error.

Fish grabs hook, fish gets reeled in, lol.

 

[gulfcoast1]

We won't get 10% unless the IAM gets about $3 per hour into their pension plan. That would be a huge boost from current levels and unlike the 401K, it would be to all IAM members.

Thanks NYer,
If we keep the 401k Match which I hope we do, and they make our match equal about what the IAM gets, will it be an increase and what would that number equal for our match? Thank you for the information.

 

[gulfcoast1]

View attachment 11718


SWA Ramp contract. 9.3% Match 1/1/2019

I would take a 9.3% match and be satisfied.

 

[WeAAsles]

Thanks NYer,
If we keep the 401k Match which I hope we do, and they make our match equal about what the IAM gets, will it be an increase and what would that number equal for our match? Thank you for the information.

Yes Nostradamus NYer please read us our fortunes.

 

[gulfcoast1]

Thanks NYer,
If we keep the 401k Match which I hope we do, and they make our match equal about what the IAM gets, will it be an increase and what would that number equal for our match? Thank you for the information.

Sorry, I see you already answered. An increase to 7% 0r 8% is not much. I would probably be ok with 8% though. That's what she said lol....

 

[WeAAsles]

I would take a 9.3% match and be satisfied.

gulfcoast you do know I hope that NYer is not now and has never been a part of these negotiations.

And let's not overreact on the link to another Airline labor groups contract. That was just used as an example to show NYer that an almost 10% Match does exist in our industry to go against his usual line "Not gonna happen" absolutes, negative, glass always have empty mindset.

 

[Kev3188]

There isn't any purpose in playing games on the subject. We all know the IAM has no intention of letting out anyone already contributing into the IAMPF. And they want us in there as well to try and grow the trust if possible.

We can all bicker back and forth forever if that's F'ed up or not but the bickering don't matter anyway.

The idea that it doesn't matter is the truly F'ed up part, and speaks volumes...

All due respect PRez,
give me the 401K and the 20% decline and TOTAL control over whats left of my money , over the pension ALSO taking that 20% decline (pensions are invested in the market), and ZERO control over whats left of my money.

^All of this.^

Worker empowerment is a good thing.

 

[WeAAsles]

The idea that it doesn't matter is the truly F'ed up part, and speaks volumes...


.

I agree but I also know that if you try and fight everything that crosses your path you're not going to have the energy (or attention) to win any of the battles that really matter.

 

[bob@las-AA]

Thank you Bob. It was a test to see if you were lurking and would correct my mathematical error.

Fish grabs hook, fish gets reeled in, lol.

Question, how do you put up with the traffic going into work, seems like a lot more since I last lived there.