No it says nothing about our frozen Pension, that in itself is a concern. Again, I've been pretty clear in stating my concerns and why. When language is omitted we usually end up getting burned.
What I don't like is that you don't have any faith in all of the Local Presidents who will be a part of that discussion (Possibly) to both argue and fight back against that thought of yours. You need to get out of NY once in awhile.
I would rather that we sought a 401k Contribution like the pilots have, 17%,or at the very least somewhere between the Pilots and Flight attendants who get as much as 9%.
So would I personally. But that's because I do maximize my contributions.
Under the IAM plan if I stay till 65 my pension from the IAMNPF would only be around $800 a month. And I cant work after retirement. I lost nearly $2000 a month due to the freeze. Roughly $40,000 of my pay would be sent to the IAMNPF over the next ten years to pay for that addition $800/month and if I die my estate gets nothing. The average male expectancy in the US is now 75.96 years. I'm overweight so probably less. So over my lifetime by contributing $40,000 to the IAMNPF I could expect to see around $96000 paid out over 10 years, so my contributions just slightly double if I live to 75. Now lets compare that to getting a contribution at the same rate as the pilots, I would expect with half the A&P schools in the country closed and people transferring out of NY faster than they can hire them to continue to see 20% OT and be earning roughly $100,000 a year. Thats $17000 a year from the company that I get when and how I need, or, without factoring in interest $170,000 by the time I turn 65. Even if we just settled for what the Flight Attendants got ($90,000), it would be as much as I could expect over my lifetime from the IAMNPF. Plus we lose the handcuffs, to both the IAM and AA.
Pretty good synopsis. Now go lose some weight so you can stick around for awhile. A good South Florida retirement is waiting for you. Live it healthy. B)
http://www.worldlifeexpectancy.com/usa/life-expectancy-male