No to the Alliance!

[CMH_GSE]

This is one time 700UW and I are in total agreement.

Except, if we get a 9.9% match then we really aren't funding our own, the company would be contributing a significant amount.
And we still have more control over how the money is invested than any other vehicle.

 

[CMH_GSE]

The IAMNPF doesnt need you in the plan to make payments, stop with the lies already.

The plan is 105% funded and in the green.

The dirty little secret is the IAM would use the IAMPF to keep control of the membership in the same way the company used it as leverage against us.

The 401k with a healthy company match is the best option for the mech and related at AA given our demographic.

 

[700UW]

Except, if we get a 9.9% match then we really aren't funding our own, the company would be contributing a significant amount.
And we still have more control over how the money is invested than any other vehicle.

Wrong,
 
A 401k is your money coming out of your paycheck, do you not get the concept of a 401k MATCH?

 

[Zom JFK]

I don't want the IAM pension either (the restrictions are ridiculous to say the least). A unions job is getting a pension out of my employer not providing one themselves. Now having said that I think that a lot of people prefer a 401k to a pension nowadays because they have this notion that it is theirs and no one can take (steal) it away from them. Well that's exactly how we felt about our defined benefit pensions years ago. When the obscenely rich want to steal what little you got they will find a way. Believe it.

 

[chilokie1]

The IAMNPF doesnt need you in the plan to make payments, stop with the lies already.
The plan is 105% funded and in the green.

No one is questioning its funding today, what will it be in ten years?
The average age of the maintenance & related workers at LAA is 53,
I'am pretty sure LUS is about the same.
Read any financial report about the future of multi company pension
plans, I will never volunteer any of my retirement $$'s in the IAMNPF.
Local 514's president Danker told a co-worker that he has tried to get
documentation from the TWU that LAA employees do not need to 
worry about their frozen AA plan, he is still waiting!
Now he is trying to get the info from the IAM attorneys "WTF"!!!
Where is the representation I pay for?
By the way TWU, this week I witnessed 3 A&P mechanics who have not signed 
AMFA cards in the past  (or at least not in the last 2 drives) sign AMFA
cards for this reason alone. 

 

[WeAAsles]

Except, if we get a 9.9% match then we really aren't funding our own, the company would be contributing a significant amount.
And we still have more control over how the money is invested than any other vehicle.

That 9.9% that the FA's have in their contract ends on December 31, 2018. The caveat to it is that you must have hired on prior to April 12, 2012 and be over 50 to receive the max amount. You need to read the link posted to know what other people who don't fit that criteria are receiving.

On January 1, 2019 all FA's will revert to a 3% contribution or a 5.5% match if that is what they are putting in.

Read 26-5 (G) to the end.

https://www.apfa.org/images/jcba/122314/Section-26.pdf

 

[CMH_GSE]

That 9.9% that the FA's have in their contract ends on December 31, 2018. The caveat to it is that you must have hired on prior to April 12, 2012 and be over 50 to receive the max amount. You need to read the link posted to know what other people who don't fit that criteria are receiving.
On January 1, 2019 all FA's will revert to a 3% contribution or a 5.5% match if that is what they are putting in.
Read 26-5 (G) to the end.
https://www.apfa.org/images/jcba/122314/Section-26.pdf

You might be shocked to know how many mechanics that would cover, and you might also be shocked at how many would probably be leaving by 2018 and would be just fine with getting the match until then if the other option is the IAMPF.

Any way you cut it, there's is ZERO support for the IAMPF among AA mech and related, Fact.

 

[WeAAsles]

You might be shocked to know how many mechanics that would cover, and you might also be shocked at how many would probably be leaving by 2018 and would be just fine with getting the match until then if the other option is the IAMPF.

Any way you cut it, there's is ZERO support for the IAMPF among AA mech and related, Fact.

I've said before that I have no issue with it being offered as a "choice" if that wound up being an option? I've written numerous times about the lack of common sense some individuals are floating around out there that the IAM is going to swoop in and absorb our frozen (Underfunded) Pension into their IAMPF. 

But I guess if using the fear factor is helping some of you get cards signed then you have to continue to do whatever it takes huh?

BTW have to give credit where credit is due and commend the APFA negotiators for negotiating it. I would love to see it in our next CBA as the one thing that no one is excluded from is growing old and when we are older and at maximum pay it's a good idea to capitalize on bulking up our retirement earnings.

 

[CMH_GSE]

I've said before that I have no issue with it being offered as a "choice" if that wound up being an option? I've written numerous times about the lack of common sense some individuals are floating around out there that the IAM is going to swoop in and absorb our frozen (Underfunded) Pension into their IAMPF. 
But I guess if using the fear factor is helping some of you get cards signed then you have to continue to do whatever it takes huh?
BTW have to give credit where credit is due and commend the APFA negotiators for negotiating it. I would love to see it in our next CBA as the one thing that no one is excluded from is growing old and when we are older and at maximum pay it's a good idea to capitalize on bulking up our retirement earnings.

Well, I find it more than curious that the IAM and the TWU have been as quiet as a church mouse about this issue to the membership and they KNOW it's heavy on our minds.

Their silence on the issue to date is deafening and it tells us all we need to know, a major screwing is rolling down the tracks.

It won't be offered as an "option", it will be part of the contract we will vote on that will include a large per hour raise, that's how they will sell it, you can say that's conjecture, I say it's just a reading of recent history.

They will tell us, " well, you can vote it down if you don't like it" knowing full well they'll be enough lemmings that will vote for the raise , pension issue be damned.

 

[scorpion 2]

No one is questioning its funding today, what will it be in ten years?
The average age of the maintenance & related workers at LAA is 53,
I'am pretty sure LUS is about the same.
Read any financial report about the future of multi company pension
plans, I will never volunteer any of my retirement $$'s in the IAMNPF.
Local 514's president Danker told a co-worker that he has tried to get
documentation from the TWU that LAA employees do not need to 
worry about their frozen AA plan, he is still waiting!
Now he is trying to get the info from the IAM attorneys "WTF"!!!
Where is the representation I pay for?
By the way TWU, this week I witnessed 3 A&P mechanics who have not signed 
AMFA cards in the past  (or at least not in the last 2 drives) sign AMFA
cards for this reason alone. 

Glad to here Dale has woken up to the fact that our pension money has been prioritized by the fund managers of the iamnpf.  Whether it be the management of our frozen trust or the future contributions to our retirement accounts. Not sure if he knows he is standing in line with a few others on an answer though? I hope Tulsa wakes up to the fact that they have been pawns in a minor league union dues balancing act for years. What we have seen in the past is nothing compared to whats coming.  They are getting ready to hit the major leagues when it comes to scams and there has been one brewing ever since these two unions (dues collection agencies) have joined forces. These Tulsa boys have been put to sleep by the twu's jobs for reduced pay program for years but I hope for once they snap out of the trance and realize the sheering is over and they are headed for the slaughter house.

 

[WeAAsles]

Well, I find it more than curious that the IAM and the TWU have been as quiet as a church mouse about this issue to the membership and they KNOW it's heavy on our minds.

So you want the TWU to come out with a public statement denigrating something that at least a quarter of our combined workforce is currently a part of. Think about that. Or the IAM should come out with the same similar statement? Ok really? Are you serious?


Their silence on the issue to date is deafening and it tells us all we need to know, a major screwing is rolling down the tracks.

There not called screws, they're called ties and they're meant to hold down the tracks. Sure again keep selling the fear factor. Fox news does the same thing.

It won't be offered as an "option", it will be part of the contract we will vote on that will include a large per hour raise, that's how they will sell it, you can say that's conjecture, I say it's just a reading of recent history.

You got any money you want to bet on that?

They will tell us, " well, you can vote it down if you don't like it" knowing full well they'll be enough lemmings that will vote for the raise , pension issue be damned.

Yep and our Presidents who many times return eventually to the rank and file are all on board with screwing themselves as you equate it? Can we eventually get back into a common sense type of conversation here?

 

[1AA]

The IAMNPF doesnt need you in the plan to make payments, stop with the lies already.

The plan is 105% funded and in the green.

So you say. Not much credibility from someone who will not be affected by this whole scam association and pension theft. Do you play that 105 number everyday?

 

[proAMT]

Any of you guys plan on retiring before 65?
Read this from the IAM Pension Fund Site...

"Amount of Your Early Retirement Pension
The amount of your early retirement benefit is determined by first calculating your normal pension as described on pages 12 and 13. This amount is then reduced by 4/10 of 1% (.004) for each month (4.8% for each year) that you are younger than age 65 on the effective date of your pension."

 

[proAMT]

When you retire and the cost of living rises and your forced to consider returning to work part time YOU BETTER NOT EXCEED 40 hours a month ( 10 hours a week )


mypension.iamnpf.org

"If the Trustees find, from any source, that you have worked in employment as just described and you have not notified the Fund, the Trustees will presume that you are working 40 hours a month in disqualifying employment and will suspend your pension for that month and each subsequent month until you give written notice that you are no longer working or establish that the employment is not disqualifying employment."

Make no mistake Brothers and Sisters they are after our past and future retirement funds and they want control of how it is distributed to us.

 

[WeAAsles]

"Make no mistake Brothers and Sisters they are after our past and future retirement funds and they want control of how it is distributed to us.[/quote]"



No they're not. But those other items you posted about the fund are some of the reasons why IF offered a choice I will probably choose to continue with the 401 match?