Pension Freeze Proposal From AA

[damajagua]

But the twu said it was a victory for us/THEM!!!

What does TWU stands for?

The worthless union!!!

 

[Buck]

What does TWU stands for?

The worthless union!!!

Yes, however historically it is referred to as Totally Worthless Union.

 

[Maark767]

I am NOT OK w taking in the shorts re the rest of the TS to save/freeze pension...Im not willing to work under conditions remotely set forth in the TS just to "save" pensions..I would rather see value built back into the agreement...If it comes to a vote and is set forth as such I will vote NO..and advocate others I know to do the same....

I agree.... I just read that this "freeze" will affect 2% of the workforce. I am not in that 2%. Terminate the pensions and keep other benefits as is. This is such a joke. AA at its finest.

 

[Buster CRC]

Don't know why its such a difference for most folks. The only difference to me is who will sign my retirement check if and when I can ever retire. If we get the term sheet medical and sick leave one moderate illness could cost 5k in deduct and lost wages.

 

[Mechanic]

So they agree to freeze our pension plan that will basically effect 2% of us. They want 1.25 billion in savings and will agree to drop it's demand for 600-800 million in concessions which is the claim of the cost freeze. What a nice company. See they really do care.
Little and the boys are standing in a tunnel on the train tracks cheering they see the light and were almost out. [ But what's that sound?]
Were so screwed.

 

[Buck]

So they agree to freeze our pension plan that will basically effect 2% of us. They want 1.25 billion in savings and will agree to drop it's demand for 600-800 million in concessions which is the claim of the cost freeze. What a nice company. See they really do care.
Little and the boys are standing in a tunnel on the train tracks cheering they see the light and were almost out. [ But what's that sound?]
Were so screwed.

But, but there is a line in the sand?

 

[Tex-Mech]

So whose pension was saved today? I wouldn't of seen a difference between the now saved pension and the PBGC pension. But according to what my steward gave me, the international will see a big difference because they are the only ones whose pension exceeds the PBGC max.

Summary Plan Description For the
Retirement Benefit Plan of American Airlines, Inc.
For Employees Represented by the
Transport Workers Union (TWU) of America, AFL-CIO
Type of Leave Rule

Union Leave:
Credited Service, Retirement Eligibility Service and pensionable
Compensation continue to accrue if you are an active Member in the Plan when the leave begins.
Eligibility and Vesting Service accrue even if you are not an active Member in the Plan when the leave begins.
COMPENSATION
Compensation used to determine the amount of your retirement benefit may be different from your total compensation in a year. It is pay that is earned while you are in the Plan and includes:
Base pay
Skill premiums
License premiums
Profit Sharing Awards (paid during 1996 through 2001)
Higher capacity pay
Union Leave pay*
Overage Leave pay*
Military Leave pay*
* Although you do not receive pay from the Company while on a Union, Overage or Military Leave, you earn pensionable Compensation credit. For Military Leave, you must return to work within the time prescribed by law to receive this credit. Pensionable Compensation credit for Overage and Military Leave is based on your rate of pay when the leave began plus increases, if any, earned while on leave. Pensionable Compensation for Union Leave is at the rate reported by the Union.
LM-2 pay reported by the union:

TWU Personnel 2011 Salary
James Little $262,702
John Conley $201,984
Joseph Gordon $255,454

Garry Drummond $189,912
Robert Gless $180,742

Pension calculation for Robert Gless:
1.667% X 180,742 X 25 years= $75,324 per year
divided by 12 months = $6,277 per month!

Tim Gillespie $159,199

 

[AANOTOK]

Well, for the sake of all the no voters, I suggest you verify with your union if the agreement to freeze the pension is tied to a consensual agreement.

My guess is that absent a consensual agreement, the pension could wind up distress terminated again.

Here is your answer E.

"This protects our members existing benefits from being reduced by the PBGC. “We’re still discussing how to handle retirement savings going forward, as well as a very wide range of issues,” said TWU International President James Little. This agreement on the pension freeze is in principle, and conditioned on the TWU and AMR reaching full consensual agreements."

 

[strikeforce]

the federally mandated lump sum option was the driving factor to freeze the pilot's pension. And, then it was obvious that the company couldn't single out the pilot's by freezing their's and terminating the others. Kudos to the pilot's for saving our pensions.

 

[odie01]

So whose pension was saved today? I wouldn't of seen a difference between the now saved pension and the PBGC pension. But according to what my steward gave me, the international will see a big difference because they are the only ones whose pension exceeds the PBGC max.

OMG! Little Jimmy makes 280K, Joe and his daughter LaTonya make a combined 450k, secretaries for the twu make 130k. That's it! I am drawing a line in the sand !!
and I dare you to knock this battery off my shoulder.

 

[Tex-Mech]

OMG! Little Jimmy makes 280K, Joe and his daughter LaTonya make a combined 450k, secretaries for the twu make 130k. That's it! I am drawing a line in the sand !!
and I dare you to knock this battery off my shoulder.

Yes they do, but per my steward there pension is also based on that, so they are in the pilots dilema if the pension goes to the pbgc. So what did we give up to save there pensions? That was my question that he was taking back to Larry.

 

[FWAAA]

the federally mandated lump sum option was the driving factor to freeze the pilot's pension. And, then it was obvious that the company couldn't single out the pilot's by freezing their's and terminating the others. Kudos to the pilot's for saving our pensions.

AA has not offered to merely freeze the pilots' pension; distress termination is still AA's offer/demand to the pilots. Like US, UA and DL before, AA cannot afford to merely freeze the pilots' pension due to the withdrawals that have occured in the past four years as pilots retired early and took their A plan as a lump sum.

 

[Birdman]

So whose pension was saved today? I wouldn't of seen a difference between the now saved pension and the PBGC pension. But according to what my steward gave me, the international will see a big difference because they are the only ones whose pension exceeds the PBGC max.

Pension calculation for Robert Gless:
1.667% X 180,742 X 25 years= $75,324 per year
divided by 12 months = $6,277 per month!

I find it hard to believe the compAAny is going to pay these clowns a pension based on their inflated union officer wages. I thought the union had their own retirement plan, like the generous pension Sonny Hall is getting?

 

[odie01]

Yes they do, but per my steward there pension is also based on that, so they are in the pilots dilema if the pension goes to the pbgc. So what did we give up to save there pensions? That was my question that he was taking back to Larry.

We, as twu union brothers, must" Fight Like Hell "to save our international's pensions! They may not work under the same contracts they sell out, but they are "OUR" leadership and deserve the respect of their members. I say, WE draw some lines in the sand, connect those lines, and have one single line that stretches from coast to show our UNITY.

 

[Tex-Mech]

I find it hard to believe the compAAny is going to pay these clowns a pension based on their inflated union officer wages. I thought the union had their own retirement plan, like the generous pension Sonny Hall is getting?

That is the word on the base, and its coming from the local.