No to the Alliance!

[La Li Lu Le Lo]

That was a rhetorical analogy and trust me I have no pie in the sky illusions.   

I am glad to hear that.
 
I edited the post you quoted.
 
I hope you take the opportunity to sign a card and send the TWU packing.

 

[700UW]

http://twu514.org/blog/2013/05/24/questions-for-the-twuiam-alliance-part-ii/

 

PENSION ISSUES
Q: Will TWU members have a choice on picking to stay with a 401k and match instead of the IAMNPF?
A: The TWU has agreed with the IAM that in joint negotiations it will support the preservation of the IAMNPF for IAM members and make it available as an option in negotiations to TWU members. However, having a 401k match either as a supplement (for everyone) or as an alternative to the IAMNPF (for TWU members) is also a goal in negotiations. Ultimately, the members will decide to approve or reject whatever is negotiated with the carrier.
 
Q: Are TWU members starting a new pension plan or handing over our frozen pension to the IAM National Pension Fund (IAMNPF)?
A: No. There is no plan to start a TWU pension or transfer the assets of the frozen pension to any other entity.
 
Q: Will TWU members be forced to participate in the IAMNPF?
A: No. The objective is to preserve as much choice and flexibility as possible. However, if we have the opportunity to restore or offer a defined benefit plan to TWU members we have an obvious interest in doing so. Ultimately, the members will decide to approve or reject whatever is negotiated with the carrier.
 
Q: Would all union (TWU/IAM) members have a choice on joining or staying in the IAMNPF or 401K with match?
A: IAM members have already voted to participate in the IAMNPF instead of the company-offered 401K match. If the company agrees in negotiations, TWU members will also have the same option. The best alternative is having a defined benefit plan with benefits comparable to what was taken from us in the bankruptcy process. If that cannot be accomplished we will try to provide as many alternatives as possible.
 
Q: Will TWU members receive credited service if TWU members choose to join the IAMNPF?
A: Yes. The IAMNPF credits previous service in qualified plans toward vesting and early retirement options.
 

 

[1AA]

Gee thanks for the INFO. Like we do not know what the alliance has been saying. We all got the same info, oops I mean lies. The last question is a big fat lie. With all the plus 50 year olds at aa with more than 30 years where will the iam pension get the extra funds to pay out since we never payed into it. You promise 40 years of payout and I only put in 10 years. The answer to that is a simple one. Two words. INSOLVENCY and PBGC. On another note this just shows how desperate the iam pension is in need of more funds. Making promises they can not financially keep. Liers, liers, liers. We need to bring this to a vote. Sign them cards.

 

[700UW]

You truly need to educate yourself.
 
Your not getting paid for years that you werent in the plan.
 
It clearly states that, but you would rather lie and make up crap then to deal with facts.
 
The US Mechanic and Related were in the plan from 2008, they were fully vested day one, and they started accruing benefits in 2008, they did not get credit or years of service prior for payments.

 

[1AA]

So ten years will get me what? Crap! My 401k at this stage of my career is a better investment hands down. Now go away since this in no way affects you. This is about us losing our 401k contribution and the association going after our frozen company pension. The iam pension will not be around in ten years. They need our money to continue to float above water. Yea, yea, I know it's 105% funded.

 

[WeAAsles]

You truly need to educate yourself.
 
Your not getting paid for years that you werent in the plan.
 
It clearly states that, but you would rather lie and make up crap then to deal with facts.
 
The US Mechanic and Related were in the plan from 2008, they were fully vested day one, and they started accruing benefits in 2008, they did not get credit or years of service prior for payments.

Lol. Classic. "You truly need to educate yourself" lol. Just classic.

 

[WeAAsles]

Hey 700. Did the IAMPF EVER say it wanted to take over the underfunded liabilities of the CARP fund?

I already know the answer but would you care to shed a little enlightenment on this one?

 

[bob@las-AA]

I have a better idea. Why don't you focus your energy toward goals that actually have a chance of succeeding instead of a head in the clouds fantasy. Like getting rid of the TWU and getting a real negotiator.

LOL I love it!!

 

[700UW]

Hey 700. Did the IAMPF EVER say it wanted to take over the underfunded liabilities of the CARP fund?

I already know the answer but would you care to shed a little enlightenment on this one?

NEVER!
 
They never asked to take over nor agreed to take over the frozen/terminated pensions at NW, UA, US or CO.

 

[scorpion 2]

http://twu514.org/blog/2013/05/24/questions-for-the-twuiam-alliance-part-ii/
 

Typical BS. Opens the door for more questions than it answers. Who is going to pay for my 25 years of credited service? So do I get credited 25 years service thru the iamnpf and keep my 25 years in the frozen AA plan? Wow thats too good to be true!  Restore my DB plan,?  Someone said that was pie in the sky but I see they left the door open for the iamnpf if all else fails. Might as well lead people to believe their old plan might get unfroze before they get dealt the old maid plan (iamnpf). We tried brother but this is the best we could do now vote on it. 
I like the one about having a DB comparable to what was taken from us. If this were to happen would the members in the iamnpf get their plan upgraded to compare with ours or would they be stuck with their current plan?  If theirs got upgraded than it wouldn't be 105% funded anymore! How would they make up the shortage? 
I like how they claim there are no plans to move our frozen assets but if we want credited service something has to give. I can see it now. Brother there are no free rides you wanted credited service and you got now lets start transferring those assets!

 

[Vortilon]

Typical BS. Opens the door for more questions than it answers. Who is going to pay for my 25 years of credited service? So do I get credited 25 years service thru the iamnpf and keep my 25 years in the frozen AA plan? Wow thats too good to be true!  Restore my DB plan,?  Someone said that was pie in the sky but I see they left the door open for the iamnpf if all else fails. Might as well lead people to believe their old plan might get unfroze before they get dealt the old maid plan (iamnpf). We tried brother but this is the best we could do now vote on it. 
I like the one about having a DB comparable to what was taken from us. If this were to happen would the members in the iamnpf get their plan upgraded to compare with ours or would they be stuck with their current plan?  If theirs got upgraded than it wouldn't be 105% funded anymore! How would they make up the shortage? 
I like how they claim there are no plans to move our frozen assets but if we want credited service something has to give. I can see it now. Brother there are no free rides you wanted credited service and you got now lets start transferring those assets!

 
You're right, something just isn't right about that Q & A.  If the TWU put as much effort into actually negotiating a decent contract; as they do, attempting to deceive the membership - we would have the best contract in the industry.

 

[1AA]

Just get those cards signed. Anyone you have contact with that has not signed educate them on the iam pension scam.

 

[WeAAsles]

Typical BS. Opens the door for more questions than it answers. Who is going to pay for my 25 years of credited service? So do I get credited 25 years service thru the iamnpf and keep my 25 years in the frozen AA plan? Wow thats too good to be true!  Restore my DB plan,?  Someone said that was pie in the sky but I see they left the door open for the iamnpf if all else fails. Might as well lead people to believe their old plan might get unfroze before they get dealt the old maid plan (iamnpf). We tried brother but this is the best we could do now vote on it. 
I like the one about having a DB comparable to what was taken from us. If this were to happen would the members in the iamnpf get their plan upgraded to compare with ours or would they be stuck with their current plan?  If theirs got upgraded than it wouldn't be 105% funded anymore! How would they make up the shortage? 
I like how they claim there are no plans to move our frozen assets but if we want credited service something has to give. I can see it now. Brother there are no free rides you wanted credited service and you got now lets start transferring those assets!

One more time

700UW Wrote:
 
"You truly need to educate yourself.
 
Your not getting paid for years that you werent in the plan.
 
It clearly states that, but you would rather lie and make up crap then to deal with facts.
 
The US Mechanic and Related were in the plan from 2008, they were fully vested day one, and they started accruing benefits in 2008, they did not get credit or years of service prior for payments".
 

DEFINITION of 'Vesting'

http://www.investopedia.com/terms/v/vesting.asp

 

[scorpion 2]

 
One more time

700UW Wrote:
 
"You truly need to educate yourself.
 
Your not getting paid for years that you werent in the plan.
 
It clearly states that, but you would rather lie and make up crap then to deal with facts.
 
The US Mechanic and Related were in the plan from 2008, they were fully vested day one, and they started accruing benefits in 2008, they did not get credit or years of service prior for payments".
 
DEFINITION of 'Vesting'

http://www.investopedia.com/terms/v/vesting.asp
 

Where's your definition of credited service since that's what the promise is. Past credited service is no longer available with the iamnpf so what the hell are they talking about in the QnA?  How many other lies are in there? Oh but wait, will they make an exception if you bring your own trust? This isn't about vesting. 
 
 
http://mypension.iamnpf.org/glossary-of-terms.aspx#future_service

 

[WeAAsles]

Where's your definition of credited service since that's what the promise is. Past credited service is no longer available with the iamnpf so what the hell are they talking about in the QnA?  How many other lies are in there? Oh but wait, will they make an exception if you bring your own trust? This isn't about vesting. 
 
 
http://mypension.iamnpf.org/glossary-of-terms.aspx#future_service

Ok now you have asked a good question.
 

• Past Service Credit
  
  
  Time you work before employer contributions are made to the plan on your behalf which count toward the amount of your pension benefit, if granted. Note: Past service credit is no longer granted for groups joining the plan on April 1, 2003 and after.
  
  http://mypension.iamnpf.org/glossary-of-terms.aspx#future_service
  
  
  Obviously before any of us considered signing up that would have to be clarified for a fact in legal language.