No to the Alliance!

[Rogallo]

The check is in the mail

 

[Buck]

While this is a Right to Work story it is also about union organizing by the IAM, not every AMT wants the IAM as any kind of Representative
 
http://www.foxnews.com/us/2015/04/24/union-cancels-boeing-vote-says-gun-toting-workers-told-it-to-take-off/ 

 

[CMH_GSE]

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

700,
Serious question:
Do you believe the IAMPF as it currently stands, with the machinist turned fund guru, and lifelong IAM yes man as Administrator, is a better option as a retirement vehicle than the 401k plan at AA that gives us autonomy over how we invest, is transferable if we change jobs and is run by Professionals that have NO TIES to ANY UNION?

 

[700UW]

You do realize he has to answer to the employer picked Trustees also?
 
The fund is separate entity.
 
Everyone should have a DBP and not forced to use their own money to fund their retirement.

 

[CMH_GSE]

You do realize he has to answer to the employer picked Trustees also?
 
The fund is separate entity.
 
Everyone should have a DBP and not forced to use their own money to fund their retirement.

IAMPF a better retirement vehicle over 401k

Yes
Or
No?

 

[700UW]

The IAMPF doesnt cost you money out of your paycheck every time, a 401k is not suppose to be your retirement.
 
How hard is that for anyone to understand?
 
This is from the man who came up with the 401k:
 
http://www.marketplace.org/topics/sustainability/consumed/father-modern-401k-says-it-fails-many-americans
 

 

Father of modern 401(k) says it fails many Americans
What's he mean? To understand, let's back up, to the accidental rise of the 401(k) -- to the 1960s and 70s. Back then, if you worked for a big company and retired, you got a pension. A regular check.
 

 

[700UW]

http://20somethingfinance.com/pensions-vs-401ks-why-you-should-care-that-pensions-are-going-extinct/
 

 

A Pension Story that Hits Home
My father retires on May 1st. He put in 36 years with the State of Michigan. At one point in the early 90’s, the State offered him a 401(k) cash exchange for the existing value of his defined benefit pension. He turned it down. It was the wisest decision he ever made. In May, he will begin to receive over $3,000 per month in pension benefits above and beyond his living expenses. And this doesn’t even include Social Security, or the 401(k) that he started from scratch! He’s set for life and has the security in knowing that his pension benefits are safe and guaranteed.
 
Could he have had a bigger payout if he switched? Maybe, but most likely not. The stock market hasn’t advanced in the last 12 years, after all. Either way, I’m almost positive that he’s been able to sleep a whole lot easier back then and he certainly is now.
 

 

[700UW]

http://www.forbes.com/sites/baldwin/2013/10/01/formula-how-much-to-put-in-a-retirement-account/
 

The only way to keep up is to have something well above 10% of salary pouring into your retirement account, between your own contributions and your employer’s. That’s not easy, especially for someone paying off college debts, starting a family and buying a house. You just have to do it if you don’t want to be eating cat food at age 75.
 
The most that someone under the age of 50 can put into a 401(k) is $17,500 a year. This means that high-pay workers have to do some of their saving outside the tax-sheltered retirement plan.
 

 

[Rogallo]

IAMPF a better retirement vehicle over 401k

Yes
Or
No?

 
His inability to answer a direct question says it all

 

[700UW]

A DBP is better than a 401k for retirement.
 
Everyone should use a three legged approach.

A company DBP.
 
Social Security
 
A 401k as a supplemental retirement, not it being your main retirement.

 

[CMH_GSE]

A DBP is better than a 401k for retirement.
 
Everyone should use a three legged approach.

A company DBP.
 
Social Security
 
A 401k as a supplemental retirement, not it being your main retirement.

Dude, the 70s are calling, they want their union member lackey back.
You are living in the past.

Give me my current 401k, increase the matching funds to 9.9% like the FAs got and that is miles and miles better than anything the IAMPF can give me.

Btw, if somehow the Association gets the gig, get ready for your 401k matching funds to disappear. That's right.
Oh, you will still be able to have a 401k, but I can guarantee the IAM will say ," well, we negotiated this nice $8 per her raise for you and now you can be in the IAMPF instead of having matching funds with a 401k".

If you don't think that's coming down the pike, you are deaf , dumb and blind.

 

[1AA]

We are all in our 50's and older. There won't be any time vested in it to get an affordable payout. The 401k is a better deal. With the company match and multiplier with overtime and holiday pay and catch up over 50 we can put more into it and get more out at this stage of our careers.

 

[CMH_GSE]

We are all in our 50's and older. There won't be any time vested in it to get an affordable payout. The 401k is a better deal. With the company match and multiplier with overtime and holiday pay and catch up over 50 we can put more into it and get more out at this stage of our careers.

You are correct, it's not even close or debatable, but the IAM will tell us what's better for us.

 

[700UW]

So you know more than the man who came up with the 401k?
 
And you know a 401k can and has run out of money before in people's accounts.
 
A 401k is not protected nor insured from losses as a pension is, go ask the UA, US, and AA guys who lost a lot of money when they invested in airline stocks.
 
And when the market is down your 401k value goes down.
 
You have been hoodwinked and brainwashed by corporate America to fund your own retirement and let companies off the hook.
 
And your not being honest, all FAs at AA dont get 9.9% match, the scale was posted in this thread before.
 
The company match/contribution is based on their age.

 

[CMH_GSE]

So you know more than the man who came up with the 401k?
 
And you know a 401k can and has run out of money before in people's accounts.
 
A 401k is not protected nor insured from losses as a pension is, go ask the UA, US, and AA guys who lost a lot of money when they invested in airline stocks.
 
And when the market is down your 401k value goes down.
 
You have been hoodwinked and brainwashed by corporate America to fund your own retirement and let companies off the hook.
 
And your not being honest, all FAs at AA dont get 9.9% match, the scale was posted in this thread before.
 
The company match/contribution is based on their age.

That's right, it's based on age and probably over 80% of the mech and related is over 50.

401k , where we have total control over what we invest in , how much we invest, with a company match of 9.9%
is better than the IAMPF run by Steve (Slight of Hand) Sleigh who's been in the IAM since the time a lot of us were still going to Led Zeppelin concerts in high school.