prefunding estimate removed from jetnet!
- Thread starter dfw gen
- Start date
strikeforce
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- Jan 18, 2011
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Well, I guess we'll have to file a class action lawsuit to get the company portion of the pre-funding. You still get the employee contribution with the term-sheet.....they cannot steal that portion. Hope you wrote down the amount?
Let the games begin boys!
Frank Szabo
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Frank Szabo
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The sales pitch, in writing (when I hired on), was rather simple. If the individual withdrew from the prefunding, all he (or she) was entitled to was their contris plus interest BUT - if the company terminated the prefunding, all would be handed to the employee plus interest.
Surely our dear employer isn't trying to weasel out of something else, are they?
Oh! I get it now. This is just a game....
strikeforce
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I don't know what else you can call it when the company posts your portion of the prefunding during the voting process and wipes it out after the vote count. Especially, when the vote count didn't go AA's way.
I think it's in our best interest to contact an ERISA lawyer and get the class action moving. It would be foolish to use a TWU lawyer because they were the ones ready, and willing to give away our money back to the company. It's our money, and it was set aside for US, not them!
strikeforce
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maybe so, but It's still money that was set aside for ME!
The company plan has been to go BK all along, and to tear up our contract. Did they know M&R was going to be a NO vote......maybe, but AA sure did participate in selling the POS LBO, as a better deal. This thread belongs to pre-funding, and with the coming company imposed "Yellow Dog" term sheet, comes our next fight to get the company portion of the pre-funding. I, at least, will NOT allow AA to steal that money.
olderguyAMT
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- Jun 12, 2010
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To see the original agreement, which states that in BK the trust is protected. The co. will argue that the match plus interest is theirs to keep. Hope our BK lawyer will fight this in Sect. 1114.
for link, go to TWU 562 website.
strikeforce
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not much input from the union & company stooges....eh!
BoeingBoy
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The original agreement - either contract or LOA - doesn't really matter. What matters is whatever is in the contract after the 1113 decision comes from the Judge. That's assuming the the trust refund is a contractual item, and I have no idea if that's the case or not.
I do think, or at least hope, that at least the money you've put in would be refunded.
Jim
olderguyAMT
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- Jun 12, 2010
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The matter will be argued when the BK court gets into section 1114. This was not fully explained by the co./union, instead, they led us to believe that a with a NO vote, we'd not get the co. portion with interest. Something fishy there eh?
olderguyAMT
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- Jun 12, 2010
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Preplanning for any contingency is a strategy of anticipation and is why the co. has spent gazillions on Harvy Miller types.
