No to the Alliance!

[La Li Lu Le Lo]

This issue was already covered during the IBT raid at US.
 
The pension issued a statement and went around the system with road shows.
 
If the Mechanic and Related at US voted out the IAM and voted in the IBT, the pension would no longer accept contributions on behalf of the mechanic and related and their IAMNPF would have been frozen.
 
Statement of fact and law.
 
And US contributions for Fleet has nothing to do with Maintenance and vice versa.  The company makes contributions to the plan on behalf of member.
 
Fleet has been in the IAMNPF longer than Maintenance.

American Airlines used the fear of pension loss to pass a concessionary contract.
 
American Airlines no longer has that power.
 
Why should the membership let a UNION trying to pull a scam have that power over them again?
 
They have already proven they are not above manipulating their own membership.
 
 
The memberships goal should be to gain control not give it up............. again.

 

[1AA]

They would lose future contributions, and they would be frozen the day the IAM loses the certification.
 
Its a multi-employer plan, each person has what was paid in for them, and what benefits they have accrued.
 
Fleet had their schedule A rates reduced, that did not effect maintenance at all, each group has it in their CBA, and terms vary.

They will be better off with a 401K matching plan than the highly restrictive scam IAM pension plan. They should demand a match immediately instead of continuing with the loser IAM plan. 401K puts more money in our own account and we can add more with O/T, holidays and so on. IAM plan you cant. Its a dead end plan. Get over it and move on. No one on th AA side wants any part of the IAM pension plan. As bad as some think the 401K plan is the IAM is worse for the contributer. And we all know about the 105% funded claim you keep making. Its getting old.

 

[700UW]

So you wor rather use your own money for retirement?

And you do know that 401ks were not meant to be your retirement money, it was designed to be a supplemental account, not your main retirement?

 

[TWU informer]

So you wor rather use your own money for retirement?

And you do know that 401ks were not meant to be your retirement money, it was designed to be a supplemental account, not your main retirement?

 
Who is adminstrator of the IAM Pension Fund?
 
Not the Trustees, the administrator...i.e. J.P. Morgan, CIti, ect.

 

[CMH_GSE]

Who is adminstrator of the IAM Pension Fund?
 
Not the Trustees, the administrator...i.e. J.P. Morgan, CIti, ect.

This is a great question.
This Is what I found, it's a little short of JP Morgan IMO.

http://www.goiam.org/index.php/imail/latest/8574-union-veteran-sleigh-to-lead-national-pension-fund

 

[xUT]

Direct link to iamnpf:
http://mypension.iamnpf.org/

 

[CMH_GSE]

So you wor rather use your own money for retirement?
And you do know that 401ks were not meant to be your retirement money, it was designed to be a supplemental account, not your main retirement?

When 401k's first started, that was true.
That is ancient history.
Today, 401k is the norm for retirement and the matching funds are the benefit that you get.
Give me the 9.9% matching funds and that blows away anything the IAMPF can offer.

401k's are transferable, you control it it, all of it.

 

[1AA]

So you wor rather use your own money for retirement?
And you do know that 401ks were not meant to be your retirement money, it was designed to be a supplemental account, not your main retirement?

Yes we know and we all prefer a 401k over the scam IAM plan. It's ours to invest any way we want. No restrictions except early withdrawal before 59 1/2. Once the iam gets the pension money we will never know if we will see it again. Not one person I spoke to wants any part of it. I do not know why you are so hell bent over backwards pushing the iam pension. It's our choice and our money. I spoke to one USAir guy and wish he could have had a match. He gave me first hand information on how those guys got scammed into it at such a late time in their careers. Give it up. Nobody wants it including the USAir guys I spoke too.

 

[1AA]

When 401k's first started, that was true.
That is ancient history.
Today, 401k is the norm for retirement and the matching funds are the benefit that you get.
Give me the 9.9% matching funds and that blows away anything the IAMPF can offer.

401k's are transferable, you control it it, all of it.

AGREE 100% but 700 is peddling the SCAM IAM PENSION fund. No matter what you tell him he will still tell you its better than the invention of the hula hoop.

 

[TWU informer]

This is a great question.
This Is what I found, it's a little short of JP Morgan IMO.

http://www.goiam.org/index.php/imail/latest/8574-union-veteran-sleigh-to-lead-national-pension-fund

 
 

Direct link to iamnpf:
http://mypension.iamnpf.org/

 
 
Wow,
So the IAMNPF administration is an internal Board of Trustees and an IAM lackey hired as the fund Director ( Steve Sleigh)?
 
You've got to be kidding me!
 
Where are the finance and investing degrees?
Where is the previous experience in past fund administration?
 
An apprentice machinist and printing press erector turned fund director? Really now? Are those mail order degrees like James C Little had or they the real McCoy?

 

[1AA]

AKA, 700UW, must be the way he is pushing this load of crap pension plan.

 

[700UW]

The administer is selected by the board of trustees which is equal parts chosen by the IAM and chosen by the employers in the plan. The plan is separate from the IAM

 

[chilokie1]

700 claims it is 100% funded, its a plan in its infancy wait until its 
boomer membership hits its retirement age. The plan will need a
huge increase of members at the other end to remain solvent.
That would be its new best friends, the TWU.
Just my theory, but why else would the TWU not fight for the
IAM membership with overwhelming numbers.

 

[1AA]

They want our money to pay out the incumbents. Sound familiar? Perhaps a pyramid comes to mind. Not with our money. No way. I will fight like hell before they take my retirement money.

 

[700UW]

Wrong the plan is just fine and is in the green.

And not every IAM member is in the plan.

The plan is funded 105%