No to the Alliance!
- Thread starter proAMT
- Start date
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And where is your fight in this? It's our money not yours. I know you can't honestly answer anyone of those two things so do us and yourself a favor go peddle your crap over at your local Walmart. We told you more than once we don't want any part of the scam pyramid IAM pension plan. You just keep insisting like a spoiled little brat.700UW said:
- Banned
- #244
http://www.investopedia.com/ask/answers/100314/whats-difference-between-401k-and-pension-plan.asp
A:
The biggest difference between a 401(k) plan and a traditional pension plan is the distinction between a defined benefit plan and a defined contribution plan. Defined benefit plans, such as pensions, guarantee a given amount of monthly income in retirement and place the investment risk on the plan provider. Defined contribution plans, such as 401(k)s, allow individual employees to choose their own retirement investments with no guaranteed minimum or maximum benefits. Employees assume investment risks in defined contribution plans.
There are other differences as well, including the availability of each plan; your employer is much more likely to offer a 401(k) plan than a pension plan in its benefits package. Pensions have become less popular with the rise of defined contribution plans. This is because pensions are both more expensive and more risky to employers than a 401(k) plan. 401(k) plans also allow smaller employers, which otherwise might not have had the money to set up a pension plan, to provide retirement benefits to prospective workers.
It is much easier to move and keep contributing to 401(k) funds if you switch jobs or if your company goes through a merger. Pensions, on the other hand, are better designed for employees who stay with the same company for many years.
A:
The biggest difference between a 401(k) plan and a traditional pension plan is the distinction between a defined benefit plan and a defined contribution plan. Defined benefit plans, such as pensions, guarantee a given amount of monthly income in retirement and place the investment risk on the plan provider. Defined contribution plans, such as 401(k)s, allow individual employees to choose their own retirement investments with no guaranteed minimum or maximum benefits. Employees assume investment risks in defined contribution plans.
There are other differences as well, including the availability of each plan; your employer is much more likely to offer a 401(k) plan than a pension plan in its benefits package. Pensions have become less popular with the rise of defined contribution plans. This is because pensions are both more expensive and more risky to employers than a 401(k) plan. 401(k) plans also allow smaller employers, which otherwise might not have had the money to set up a pension plan, to provide retirement benefits to prospective workers.
It is much easier to move and keep contributing to 401(k) funds if you switch jobs or if your company goes through a merger. Pensions, on the other hand, are better designed for employees who stay with the same company for many years.
I'll take my chances with a 401k with a healthy company match over a shady Union run IAMPF that ties your hands and tells you what's best for you.700UW said:
This should all have have been debated and voted on already, BEFORE they petitioned the NMB.
Tell me why there was no ballot on the Association before they took it to the NMB?
If the IAMPF is so virtuous, why didn't the TWU and IAM bring this to the membership for approval?
It wouldn't have taken long to have in internal vote of Association, TWU or IAM for representation.
Unionism is supposed to be about membership voting on what they believe is in their best interest, not having a gun put to their heads and told, " vote for this or else".
- Banned
- #246
You are so making up stuff.
First of all no one is forcing the TWU members into the IAMNPF, can you even read and comprehend the alliance agreement?
Show me where it states the TWU members will lose their 401k match and be forced into the IAMNPF.
You will have to ask the IAM and TWU about why you didnt vote before the petitioning the NMB.
And you will be voting on a JCBA.
First of all no one is forcing the TWU members into the IAMNPF, can you even read and comprehend the alliance agreement?
Show me where it states the TWU members will lose their 401k match and be forced into the IAMNPF.
You will have to ask the IAM and TWU about why you didnt vote before the petitioning the NMB.
And you will be voting on a JCBA.
This is why we need to sign cards to at least have a vote by the members regardless if amfa gets in or not. It's called democracy. One big push from the unions was to save the IAM pension fund from collapsing. They want a rubber stamp from the nmb and shove the scam pyramid pension up our rears. People who do not sign have to realize our pensions are at serious risk of being turned over to the scam fund over to the IAM. They just see $$$$$$$$. If they cared about the members then it would have been voted on or at least one union would have conceded to the other. Unfortunately greed is top priority in lieu of the memberships wishes.CMH_GSE said:
chilokie1
Senior
- May 11, 2005
- 492
- 727
Ok 700 talk down to us a little more, I think we know the difference smart guy.700UW said:
Enlighten us with the difference between a single employer pension plan (AA's plan) &
a multi-employer plan (IAMNPF).
What is the different max payout between the plans when they fail and the PBGC
takes them over?
Show me on paper that the Association & AA can't transfer the AA trust over to
the IAMNPF.
You say the IAMNPF is fully funded right now, what are its projected assets in
10 to 12 years?
Is it true a multi company retirement plans can lower pension payouts as assets
lower?
MetalMover
Veteran
- Sep 16, 2013
- 3,543
- 2,410
No unless we want $2 an hour taken out of our salary.CMH_GSE said:
Real tired
Veteran
Bingo. It's not free money. It has to come from somewhere.MetalMover said:
And we said no for 2 years until they wrote it into the '08 contract, and included about a $.50 raise, and we voted for it hook, line and sinker.
xUT
Veteran
The idioc idea that it is paid for by the company.
The iamnpf was "negotiated" IE Pay and benefits in exchange for the company to fund it.
B) xUT
PS:
Why does the iam offer a 401K program...
The iamnpf was "negotiated" IE Pay and benefits in exchange for the company to fund it.
B) xUT
PS:
Why does the iam offer a 401K program...
xUT
Veteran
Notification of Changes to Plan Benefits
OOPS....
In December 2010, the Trustees announced the plan will phase in an adjustment to the benefit accrual rates applicable to credit earned with contributing employers who first contributed to the plan on the participant's behalf before April 1, 2003 under Schedule A (PDF). Schedule A will be replaced with Schedule B (PDF)
for all active participants on the first day of the month following the ratification of their collective bargaining agreement replacing the agreement that is in effect on January 1, 2011.
Schedule B will also apply to credit earned with contributing employers who first contributed to the plan on the participant's behalf after April 1, 2003. Schedule B will be in place for all active participants on the first day of the month following the ratification of the collective bargaining agreement that replaces the agreement in effect on January 1, 2011.
In addition, for a limited number of groups, benefits are based on a custom schedule derived from Schedule B.
The latest date that Schedule B will take effect in any instance is January 1, 2014.
OOPS....
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