JCBA Negotiations and updates for AA Fleet

[NYer]

Tim, I too have posted many times in the past about how these pension plans are going by the waste side one at a time. UPS bought out all their pensions to get the employees out of a failing system. IAM has made one or two cuts in the past (may not have been this IAM's pension) and I believe those were on the retirees. There is currently several pensions on the chopping blocks getting ready to get frozen or at least will be chopped in half and in some cases some retirees will see up to a 33% cut on payouts. All these are documented cases. With the millions upon millions of pension workers laid off, fired, or just leaving their work the pensions are slowly dying away from the lack of participants. After 9-11 the airline industry lost hundreds of thousands of pension workers that were no longer participating once they were laid off or riffed, not to mention the many, many other workers that were released after 9-11. I can't believe the IAM side is still trying to push this pension fund into the AA'ers side. I too would much rather see you guys freeze the existing and get a heftier match in the 401K and other retire accounts increased. Plus the pensions die if the person dies, whereas the 401K can very easily out live the participant and be passed onto family, not so with the pensions. For that alone should be enough. They will have to cut the pensions again in the future, that's a fact...

401K's are by no means a safe vehicle for retirement. When the market is going up the returns are there but in downturns like we had in the 80's, the 90's and the 2000's decimated many 401K's accounts.

The key to long term investment is diversification. If given a choice to participate in a pension while also contributing to a 401K,most should take that choice.

Many of us in LAA were lucky we had a pension plan but we also took advantage of the 401K. When the Pension Plan was frozen it forced many of us with our eggs in one basket (the pension) to start a 401K from scratch.

10 or 15 years is not a sufficient time to build a large enough nest egg to retire on. However, those that started from scratch have the benefit of supplementing their 401K withdrawals with their frozen pension payout.

That diversification is what can protect us from either a pension meltdown or an overall economic meltdown.

Don't believe anyone will be forced into the IAM plan but to discount a voluntary participation could be self destructive.

 

[Tim Nelson]

Again Timmy, DBP paid for and supported by the Corporations that people worked for became doomed when "We the People" stopped fighting for them. When "We the People" became fat, happy, soft, cowardly and complacent.

When "We the People" allowed those Laws to be changed to benefit Corporations and Wall Street and NOT us.

Cest La Vie I guess?

I agree

 

[Tim Nelson]

401K's are by no means a safe vehicle for retirement. When the market is going up the returns are there but in downturns like we had in the 80's, the 90's and the 2000's decimated many 401K's accounts.

The key to long term investment is diversification. If given a choice to participate in a pension while also contributing to a 401K,most should take that choice.

Many of us in LAA were lucky we had a pension plan but we also took advantage of the 401K. When the Pension Plan was frozen it forced many of us with our eggs in one basket (the pension) to start a 401K from scratch.

10 or 15 years is not a sufficient time to build a large enough nest egg to retire on. However, those that started from scratch have the benefit of supplementing their 401K withdrawals with their frozen pension payout.

That diversification is what can protect us from either a pension meltdown or an overall economic meltdown.

Don't believe anyone will be forced into the IAM plan but to discount a voluntary participation could be self destructive.

I hope alot of your young twu members join our pension. I need to buy time.

 

[NYer]

I hope alot of your young twu members join our pension. I need to buy time.

Wouldn't be surprised if new hires are automatically enrolled in the IAM Pension Plan, with those already on payroll getting a one-time choice of either the IAMNPP or the 401K match.

 

[WeAAsles]

It's ridiculous for anyone to think that we can't at least match what our Ramp friends over at UAL currently enjoy.

That would be IAMNPF participation AND a tiered 401k Match percentage.

 

[WeAAsles]

I hope alot of your young twu members join our pension. I need to buy time.

If I'm offered similar to what UAL currently enjoys you can more than likely count me in Tim.

And yes I am well aware that the possibility exists that the current quoted payout for my participation may be modified down by a modicum of a percentage.

 

[WeAAsles]

I hope alot of your young twu members join our pension. I need to buy time.

Tim I want you to go to the IAMNPF website and look at the links for both Schedule A and Schedule B. On the bottom of the first page for Schedule B is this line,

*A custom benefit schedule may apply based upon actuarial review to groups of 10,000 or more employees.

http://mypension.iamnpf.org/national-pension-plan/contribution-rates.aspx

That line is NOT on the bottom of the page for the Schedule A formulas.

You see I actually think you're a good advocate for pushing for things, but you never seem to push for the RIGHT things. How many Association members are there Tim?

 

[anotherdelay]

Good Lord, Due Diligence will win the day. Its funny how much Nelson is exposing, and ny'er you can still come back with that response. about forced participation. This union pension is the most anti labor, thing that's ever happened to the membership. Look put in the contract the company can contribute to the officer pension, so the members can finally get on with a good 401k,match/contribution especially the younger guys , so they can use it to help them get a house. 90 percent of mx twu is against the pension. Iam mx could be the next to start jumping on the throats of iam leaders. that's where mx is making the picketing mistake, and not organizing with iam mx. Picketing won't work, but common ground on the mess of the forced participation of the pension could bring the mx groups together. Spend the money, on educating the rank and file iam mx group on how their pension is costing their group in terms of their retirement and how it compromises other parts of the negotiations.

 

[Tim Nelson]

Wouldn't be surprised if new hires are automatically enrolled in the IAM Pension Plan, with those already on payroll getting a one-time choice of either the IAMNPP or the 401K match.

I agree

 

[WeAAsles]

"Due Diligence" will win the day with his nunchucks.

 

[WeAAsles]

I agree

Your alter ego does not agree.

 

[anotherdelay]

Right now, the Twu including Rosen has to come out, and truthfully expose the iampf, and how its holding the membership hostage. We are the larger work group being held hostage by the smaller work group, and its not good faith. The Ass in the spirit of Bond/Mccaskill, makes the association illegitimate anyway, and Trunka should be removed from office for allowing it.

 

[anotherdelay]

View attachment 11840
"Due Diligence" will win the day with his nunchucks.

yeah, your delphi training won't work, and you should be ashamed of yourself for using it on unsuspecting people. Karma catches up with guys like you though by giving you a miserable life in the end. And no, guys like you don't change.

 

[WeAAsles]

yeah, your delphi training won't work, and you should be ashamed of yourself for using on unsuspecting people. Karma catches up with guys like you though who live a miserable life in the end.

"The primary treatment for DID is long-term psychotherapy with the goal of deconstructing the different personalities and uniting them into one. Other treatments include cognitive and creative therapies. Although there are no medications that specifically treat this disorder, antidepressants, anti-anxiety drugs or tranquilizers may be prescribed to help control the mental health symptoms associated with it. With proper treatment, many people who are impaired by DID experience improvement in their ability to function in their occupational and personal lives."

https://www.psychologytoday.com/con...entity-disorder-multiple-personality-disorder

 

[anotherdelay]

I agree

Only if the TWU and Rosen is that corrupt and bought out. 90 yes 90 percent of twu mx is against it. Fleet side, not many are interested in anything at this point. If I'm reading it correctly on iam side of the contract, the ones who are informed, are mostly concerned about medical costs.