Retirement Benefits Key

[BoeingBoy]

Retirement benefits key to unions going into talks

By Steve Halvonik
TRIBUNE-REVIEW
Wednesday, August 11, 2004

US Airways' top negotiator is scheduled to be in Pittsburgh Thursday to resume concession negotiations with the flight attendants' union.

Article

Jim

 

[USA320Pilot]

Teddy Xidas, president of AFA Local 40 in Pittsburgh, said that Chief Executive Officer Bruce Lakefield indicated last month that making the pension payments could force the company to default on government guaranteed loans, triggering bankruptcy.

Respectfully,

USA320Pilot

 

[UAL_TECH]

FYI,

I’d be very apprehensive agreeing to reduce the DB plan through a contract.
Once you agree to a lesser amount, that amount will be your new maximum that you will get from the PBGC if USAir decides to terminate the DB plans at a later date. To date, you are already locked in to what is stipulated in your current contract. It might be a good idea to keep this one.

Best of fortune to you all!!

JMHO&PO,

UT

 

[28yrsnojob]

:down: no penison ,no retirement thats what the union gave me

 

[Seatacus]

These "bait and switch" benefits programs have got to end. Companies offer these benefits to keep people around and to build loyalty. Companies are not required to offer these benefits but they do and people stick around because they feel the company wants them there and it is worth their while. Now after we have given years of service that we cannot get back they want to change the rules. Maybe this is something the Government should look into regulating. I guess a lot us feel pretty stupid for thinking things would turn out OK... Oh well, live and learn..........................

 

[PITbull]

Teddy Xidas, president of AFA Local 40 in Pittsburgh, said that Chief Executive Officer Bruce Lakefield indicated last month that making the pension payments could force the company to default on government guaranteed loans, triggering bankruptcy.

Respectfully,

USA320Pilot

[post="167448"][/post]​

That must have been before they made their profits. Very difficult to convince anyone that the company will be forced into BK. If it happens now, it will be because GE or some creditor wants the pensions OFF the balance sheet.