raises comin sept 14

[AMFAinMIAMI]

Give me assurance the world won't end tomorrow.

And who insures your 401k?

That would be no one.

Even the man who designed the 401k stated its not to be your retirement fund.

It was to supplement your retirement.

 
When WE retire from AA with our 401k we transfer that into a IRA or a annuity which gives me a guarnteed amout which I control NOT some Union which can reduce to stay Viable if need be just like the IBT's Pension plan. I say how much I get not the UNION.
 
That is my guarentee...

 

[700UW]

You cant transfer your 401k into an IRA.
 
The IAM doesnt control the IAMNPF,  you know this, but how many times are you going to repeat your misinformation?
 
There is no protection in a 401k when it losses money, that is a fact, it is not insured by the PBGC nor the FDIC.

 

[cheetah]

I believe your right.

 

[Buck]

More fear mongering

Fear Mongering? 
 
More like a bunch of Socialists trying spread our money out to the members of the IAMPF

 

[700UW]

And your AA frozen pension isnt the same?
 
Your TWU/AA pension is almost $2 billion underfunded.
 
You all fear monger and grasp for straws, yet for 52 years you cant make a change in representation.
 
So it says everything about the situation.

 

[cheetah]

What difference does it make to AA who has the pension? If they still have to fund it why would they care if the IAM has it? Yep sounds like it will be part of the negotiations.

 

[Buck]

And your AA frozen pension isnt the same?
 
Your TWU/AA pension is almost $2 billion underfunded.
 
You all fear monger and grasp for straws, yet for 52 years you cant make a change in representation.
 
So it says everything about the situation.

My frozen pension is mine and AA's not the union's to spread out to cover other members
 
I will take my Frozen Pension which I can move to an IRA when I leave AA, You put all of your money into the IAMPF and be happy

 

[1AA]

And your AA frozen pension isnt the same?
 
Your TWU/AA pension is almost $2 billion underfunded.
 
You all fear monger and grasp for straws, yet for 52 years you cant make a change in representation.
 
So it says everything about the situation.

First of all AA is bounded to keep the pension funded and administer it. It may be underfunded as you say but the company is bound by law to keep it funded and pay out exactly the amount of the frozen date. As long as the scam loser IAMPF keeps their hands off our pension I'll be happy to have AA continue to manage it. Your beloved scam artist IAMPF will just make adjustments to the payouts if it falls short. Worst case it goes to the pbgc. As long as AA is in business they will keep funding it. Where will the IAMPF get the money from if they fall short? I would rather have the pbgc handle my pension should AA turn it over as a single employer pension than have it go to the IAMPF and turn it into a multi employer pension which will end up with the pbgc and pay less. 401K is the new pension today. It sucks but we all have to be responsible enough to self manage our own finances. The IAMPF is a big gambling game and a PYRAMID SCAM. No money in leads to less or no money out. That's were the pbgc steps in. No thanks. What does change of representation have to do with the IAMPF and our 401K? Safe to say your having a fit?

 

[1AA]

What difference does it make to AA who has the pension? If they still have to fund it why would they care if the IAM has it? Yep sounds like it will be part of the negotiations.

Because if AA defaults it to the pbgc the pbgc will pay out more money as a single employer pension than if it went from AA to the IAMPF and then to the pbgc as a multi employer pension.

 

[Kev3188]

I've said it before, but it bears repeating: Higher 401k contributions and matches make for a more empowered workforce. That's what your NC should be pushing for.

 

[700UW]

My frozen pension is mine and AA's not the union's to spread out to cover other members
 
I will take my Frozen Pension which I can move to an IRA when I leave AA, You put all of your money into the IAMPF and be happy

100% wrong you can't take your frozen pension anywhere, AA controls it, they will send you a check monthly when you retire.

The levels of ignorance is hitting new levels today.

Where do you all come up with this stuff?

 

[1AA]

100% wrong you can't take your frozen pension anywhere, AA controls it, they will send you a check monthly when you retire.
The levels of ignorance is hitting new levels today.
Where do you all come up with this stuff?

Your correct I will get my check from AA for the amount of the frozen date. The IAMPF will have so many restrictions and we don't need for them to tell me 5 years into retirement that they will reduce my payout because of union mismanaged of funds.

 

[700UW]

Payouts were not reduced for people being paid benefits, so you are wrong once again.
 
So please show me one mechanic and related PMUS employee who had their future accruals reduced?
 
Why dont you go for strike three?
 
Mismanaged funds?
 
Another piece of misinformation.
 
Your AA frozen pension is underfunded by $2 billion, seems AA doesnt know how to manage a pension.

 

[1AA]

Thank god your not managing my pension. I'm happy to have American Airlines manage my frozen pension. They have money and are funding it. So how is your pension paying off for you?

 

[700UW]

My pension was terminated and I dont collect it yet, as I am not old enough.
 
The PBGC is taking good care of it.
 
So AA is doing such a great job why is it frozen and underfunded by about $2 billion?
 
Your lucky the TWU fought against its termination in court.