Pensions at risk

[TWU informer]

Would the fund remain green if the IAM/US members left? Probably since those contributions are funded at 80% and would stop if they left. But then if the IAM/US members can remain in the IAMNPF by joining the Association that would be good for them. If they vote down the Assoc they risk losing greater accumulations in the IAMNPF by either becoming TWU or worse, AMFA members.

 
Wow, after reading this and other postings of your, I am now convinced that you operate on pure emotion and that any logic and wisdom in not in your thought process.

 

[Real tired]

“The multiemployer pension system is a ticking time bomb:
 
http://www.bna.com/multiemployer-program-posts-n17179911982/

 

[Real tired]

The DOL has an endangered or critical multiemployer pension fund list on the web. I don't see the IAMNPF on here. I see a lot of IBT funds though.
 
http://www.dol.gov/ebsa/criticalstatusnotices.html
 
IAMNPF "Green Notice" meaning the fund is funded 80% or above. Chuck your facts don't pertain to the IAMNPF but the PBGC's concern over other plans.

 
"The PBGC did not identify the names of the multiemployer plans that it expects to fail in the coming years."
 
http://www.businessinsurance.com/article/20141117/NEWS03/141119849?tags=%7C62%7C307%7C77%7C82

 

[Overspeed]

Dave,
And somehow I got an A&P. Oh, and I can weld too!

 

[DNTULSA]

overspeed,
 
I suspect that you don't weld or use your A&P. I'll bet that all you do is ride around on a cart and talk endlessly.

 

[Overspeed]

And drink coffee

 

[Glenn Quagmire]

And drink coffee

You're that guy?

The one who rolls out to the aircraft, opens his box, grabs a part off a shelf and walks around with it while chatting up the actual workers?

BTW, I would sooner give my pension money to Bernie Madoff than the IAMAW.

 

[Chuck Schalk]

My point is that American Airlines claimed bankruptcy based on paper accounting practices with millions spread around the world not included in assets as AA BK requires only US assets and negative predictions.
 
the IAM national pension is the same game but instead they are inversely propotional.  The IAM uses paper accounting practices to mislead the members to believe that the fund is better than it actually is based on positive predictions in the future.Without these predictions the fund would look much different than what they claim.

 

[toroshark]

It appears the TWU conspired to give our pensions to the Iampf without any input from us at all! What representation!

 

[Overspeed]

Chuck,
The DOL oversees the multiemployer pension plans and the IAMNPF is in much better shape than the majority of plans. The AA DBP was in distress like most other DBPs in the airline industry specifically. There was no fuzzy math and the IBT and TWU both asked their members to urge the gov't for relief which was granted but not what was asked for. UA, DL, and other airlines that froze or terminated their DBPs got special treatment.
 
Bottom line, the IAMNPF is in damn good shape.

 

[737823]

O/S why are you suddenly a staunch IAM defender? Did 700 takeover your handle? Your TWU did far better than the IAM, the TWU 401K is better than the pathetic IAM pension that is impossible to live off.

Josh

 

[JFK Fleet Service]

The IAMNPF will pop out an eyeball and skull@ck me if I have the audacity to retire early?

Yeah,no.I want no part of that.

 

[scorpion 2]

 
Chuck,
The DOL oversees the multiemployer pension plans and the IAMNPF is in much better shape than the majority of plans. The AA DBP was in distress like most other DBPs in the airline industry specifically. There was no fuzzy math and the IBT and TWU both asked their members to urge the gov't for relief which was granted but not what was asked for. UA, DL, and other airlines that froze or terminated their DBPs got special treatment.
 
Bottom line, the IAMNPF is in damn good shape.

Paltry payout once you reach 65 and 25% hit if you leave at 60 but lets not forget,  employment after retirement is on approval only if you want to keep drawing against it.  Hell ya its in damn good shape. Ours would be fully funded too under those rules. The DOL oversight makes me feel all warm and fuzzy. Are they overseeing the PBGC too?

 

[MetalMover]

Chuck,
The DOL oversees the multiemployer pension plans and the IAMNPF is in much better shape than the majority of plans. The AA DBP was in distress like most other DBPs in the airline industry specifically. There was no fuzzy math and the IBT and TWU both asked their members to urge the gov't for relief which was granted but not what was asked for. UA, DL, and other airlines that froze or terminated their DBPs got special treatment.
 
Bottom line, the IAMNPF is in damn good shape.

How can it NOT be? With the conditions in place for a payout....Also, I am sure they never forget to deduct that $2 of pay to fund it.

 

[ThirdSeatHero]

Chuck,
The DOL oversees the multiemployer pension plans and the IAMNPF is in much better shape than the majority of plans. The AA DBP was in distress like most other DBPs in the airline industry specifically. There was no fuzzy math and the IBT and TWU both asked their members to urge the gov't for relief which was granted but not what was asked for. UA, DL, and other airlines that froze or terminated their DBPs got special treatment.
 
Bottom line, the IAMNPF is in damn good shape.

 
The IAMNPF has been in endangered status at least 3 times in the last 10 years, and the last time it was, they used a text book definition of "fuzzy math" to claim the plan was fully funded when it clearly wasn't.
 
I would add in addition to what many here have already noted, a 401k is preferable because while stock market losses may impact any potential retirement source, in a 401k, gains made in the market mean an immediate improvement in your plan, not so in the IAMNPF.  If the plan trustees cut benefit levels in bad times, there is no guarantee they will restore benefit levels when markets rebound.
 
No thank you.