JCBA Negotiations and updates for AA Fleet

[WeAAsles]

Jester I listen to him when the Mets are not playing (same station) if you listen to him none of us who work fleet would ever have a new car or house for that matter and I'm not into rice and beans and beans and rice

French fries with Brown gravy?

 

[Albert]

French fries with Brown gravy?

What happened to Hamburger Helper and strawberry Kool aid

 

[ATD]

What happened to Hamburger Helper and strawberry Kool aid

There is a small minority on non- kool-aid drinkers left at LAA.

 

[Jester]

Jester I listen to him when the Mets are not playing (same station) if you listen to him none of us who work fleet would ever have a new car or house for that matter and I'm not into rice and beans and beans and rice

Lots of bad choices there...
new cars, eating out, unaffordable housing, and the Mets.
This might help...
https://www.amazon.com/Ways-Prepare-Beans-Rice-Love/dp/099126830X

 

[Albert]

Lots of bad choices there...
new cars, eating out, unaffordable housing, and the Mets.
This might help...
https://www.amazon.com/Ways-Prepare-Beans-Rice-Love/dp/099126830X

Bad choices but that's me, never said I didn't have any faults

 

[chilokie1]

Chil we don't have all the numbers though. Like I said have those IAMPF future liabilities leveled off? If they have then there's a "possibility" the fund doesn't fall out of the green and have to make any cuts in the future? Are the industries where the IAMPF holds members adding employees to their business and are they in long term growth mode forecast?

Traymark said yesterday will the TWU conduct its own individual audit of the trust? I'd like to obviously hope they can and do?

Oh and are those changes they've made after the DOL complaint going to be sufficient for them to invest more prudently without any more future drama in that area? (IAMPF guys. That is YOUR money not anyone's personal slush fund, kapeesh.)

"I" still have lots of questions left to be answered when the time "really" comes that I want/need answers.

You are correct I thought about that after I posted, I should have said ........The 2016 report is very troubling especially when you consider Kline-Miller. When your 401K gets hammered by the stock market you have only lost $ on paper, as long as you leave it & have the time it always earns it back. If you are close to retirement the 401K gives you options to via cash or less risky funds. When a Multi-co pension plan (like the IAMPF) gets behind on its funding enough for Kline-Miller provisions to kick in your benefit amount gets lowered and highly unlikely that it will ever be readjusted back up. BTW my 401K plan has made me 7.9% average over the course of my 30 year career (even with the market hiccups). A 401K is fully portable, fully controllable & tax lowering benefits.

 

[Albert]

You are correct I thought about that after I posted, I should have said ........The 2016 report is very troubling especially when you consider Kline-Miller. When your 401K gets hammered by the stock market you have only lost $ on paper, as long as you leave it & have the time it always earns it back. If you are close to retirement the 401K gives you options to via cash or less risky funds. When a Multi-co pension plan (like the IAMPF) gets behind on its funding enough for Kline-Miller provisions to kick in your benefit amount gets lowered and highly unlikely that it will ever be readjusted back up. BTW my 401K plan has made me 7.9% average over the course of my 30 year career (even with the market hiccups). A 401K is fully portable, fully controllable & tax lowering benefits.

I'm not supporting it but when our benefits were reduced it was the future benefit that was reduced so if we had a $80 qualifier for 10 years we kept the $800 dollars a month the future rate was reduced ,which still blows

 

[WeAAsles]

You are correct I thought about that after I posted, I should have said ........The 2016 report is very troubling especially when you consider Kline-Miller. When your 401K gets hammered by the stock market you have only lost $ on paper, as long as you leave it & have the time it always earns it back. If you are close to retirement the 401K gives you options to via cash or less risky funds. When a Multi-co pension plan (like the IAMPF) gets behind on its funding enough for Kline-Miller provisions to kick in your benefit amount gets lowered and highly unlikely that it will ever be readjusted back up. BTW my 401K plan has made me 7.9% average over the course of my 30 year career (even with the market hiccups). A 401K is fully portable, fully controllable & tax lowering benefits.

The only thing I'd argue in this is the "fully controllable" part. You have some measure of control absolutely but not fully.

 

[WeAAsles]

I'm not supporting it but when our benefits were reduced it was the future benefit that was reduced so if we had a $80 qualifier for 10 years we kept the $800 dollars a month the future rate was reduced ,which still blows

And actually the LUS Mechanics never took a cut at all cause they came in under Schedule B. (Thanks for the info 700UW)

 

[WeAAsles]

BTW Chil if the IAMPF ever does need to cut again in the future I highly doubt it's going to have to take a 40% whack on future benefits with a new schedule? And it could do other things talked about in these threads to make modifications instead. (Sort of alone the same lines as some Politicians have suggested for SS)

 

[Albert]

BTW Chil if the IAMPF ever does need to cut again in the future I highly doubt it's going to have to take a 40% whack on future benefits with a new schedule? And it could do other things talked about in these threads to make modifications instead. (Sort of alone the same lines as some Politicians have suggested for SS)

Shh Weez now they are going to b!tch about the restrictions they live in TX and make $125,000 and are leaving AA for another career in the industry

 

[chilokie1]

The only thing I'd argue in this is the "fully controllable" part. You have some measure of control absolutely but not fully.

Fully Controllable, Very Controllable, Kinda Controllable, Somewhat Controllable, beats zero controllability that the IAMPF gives you.

 

[WeAAsles]

Fully Controllable, Very Controllable, Kinda Controllable, Somewhat Controllable, beats zero controllability that the IAMPF gives you.

You stymied me. I had no reply that rolled off the top of my head so I'm not going to insult your intelligence by artificially formulating something.

 

[chilokie1]

You stymied me. I had no reply that rolled off the top of my head so I'm not going to insult your intelligence by artificially formulating something.

No way!! I did not think it was possible.

 

[swamt]

Fully Controllable, Very Controllable, Kinda Controllable, Somewhat Controllable, beats zero controllability that the IAMPF gives you.

It is fully controllable. We can play in or out daily if we wish. Or we can fund 5%, 10%, 25%, 50%, 75% or 100%. Or we can pull completely out at 0%. Temp pull out and freeze it if a huge emergency arises and go back in at a later date. And just to add a little to that, I am not aware of all companies doing this but if you were out of the 401K for say 4 months, and you came back into it at 15% to help make up, our co. will match dollar for dollar at the 15% until it is balanced as if you never got out then it will return to the norm of 9.3% match dollar for dollar. Cannot do that with the pensions. Matter fact they are cut off at 40 hours max input, if you only worked 30 hours you only get the 30 hours credit and no makeup for lost time which actually sux. I really like the makeup option as I have had to use it a couple of times in the past. There are some rules involved and it also depends on if you have any outstanding 401K loans still actively repaying back. An excellent tool if ya need it in a pinch.