PBGC and MERGER
- Thread starter usa1
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- #63
You have been talking about this issue for years, the PBGC is in charge.
Your pension wasnt even done under the CWA, your pension was frozen back in 1992, and terminated in 2005.
It wasnt a contractual issue.
And by the way there isnt a representational election for the CWA, you are going to have to get cards signed from the AA agents to call for a vote.
Your pension wasnt even done under the CWA, your pension was frozen back in 1992, and terminated in 2005.
It wasnt a contractual issue.
And by the way there isnt a representational election for the CWA, you are going to have to get cards signed from the AA agents to call for a vote.
blue collar
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- Mar 17, 2008
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Yeah, that's one thing about the IAM pension that isn't right. The union touts that as the best pension, but it is definitely lacking. It's good that they worked something for retirement into the transition agreement (for mx), but there should have been more options- like a pension or 401k match, or bothmike33 said:
FLYUSAIRWAYS
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- Feb 21, 2004
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Just got off the phone with the PBGC. They expect an answer regarding still working and start collecting our benefit because of the merger, in just a few days. They said the web site would be updated with the info, once the decesion was made. Since this will cost them big time, I expect A BIG FAT NO.
mike33
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- Nov 7, 2007
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As of 12/9/2013.....................
" American Airlines/US Airways Merger: Frequently Asked Question (12/5/2013)
Q. I work for US Airways. PBGC is responsible for my US Airways pension plan, and has told me that I cannot get an early retirement benefit while I still work for the company. But US Airways is merging with American Airlines. As of December 9, 2013, I will be working for the new company. Does that mean I can start getting my PBGC benefit while I continue to work?
A. We are looking at this issue and will have a definitive answer in a few days. At this time, however, we don't think it is likely that active employees of the merged US Airways/American Airlines will be able get early retirement benefits from their US Airways pension plan."
" American Airlines/US Airways Merger: Frequently Asked Question (12/5/2013)
Q. I work for US Airways. PBGC is responsible for my US Airways pension plan, and has told me that I cannot get an early retirement benefit while I still work for the company. But US Airways is merging with American Airlines. As of December 9, 2013, I will be working for the new company. Does that mean I can start getting my PBGC benefit while I continue to work?
A. We are looking at this issue and will have a definitive answer in a few days. At this time, however, we don't think it is likely that active employees of the merged US Airways/American Airlines will be able get early retirement benefits from their US Airways pension plan."
- Thread Starter
- Thread starter
- #69
FLYUSAIRWAYS said:
Goodbye, AMR and US Airways Group, Hello American Airlines Group
http://aviationblog.dallasnews.com/2013/12/goodbye-amr-hello-american-airlines-group-and-its-new-management-team.html/
PS:I think it all comes down to who's operating certificate is used. And I don't think that is clear yet. PBGC will have to wait and see.
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- #70
jimntx
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Good guess, but not anything "extra-legal." And, I don't think it has anything to do with the cost to the PBGC. As I understand it for the time being USAirways and American Airlines are to be "wholly-owned subsidiaries of AAL." That means that legally, you are still employed by US Airways and I am employed by American Airlines. With that distinction, US Airways has not ceased to exist; therefore, you are not eligible to start drawing from the pension in their care. So says the English major regarding the legal interpretation of the law.
mike33
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- Nov 7, 2007
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Unfortunalely the light has turned to yellow on its way to red. We shall see soon enoughjimntx said:Good guess, but not anything "extra-legal." And, I don't think it has anything to do with the cost to the PBGC. As I understand it for the time being USAirways and American Airlines are to be "wholly-owned subsidiaries of AAL." That means that legally, you are still employed by US Airways and I am employed by American Airlines. With that distinction, US Airways has not ceased to exist; therefore, you are not eligible to start drawing from the pension in their care. So says the English major regarding the legal interpretation of the law.
FLYUSAIRWAYS
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- Feb 21, 2004
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PBGC said they would have an answer in a few days. That was Dec. 5th. Called today and still no answer yet. Must be a real complicated issue, and they don't want to make an error. They said the answer will be posted on their website. To check for the latest info, click on news, then type in our case number, hit search, and you will see the Dec 5th info they have posted. Stay tuned.
