You want to laugh at something? Look in the mirror for that's where the problem starts. It's either "it's not going to make a difference" or "I'll let someone else do it". We are our own worst enemy and that sir is why we have no respect. GT Davis
Agreed GT, we are our own worst enemy.
When our fellow mechanics won't even bother to educate themselves on the matter at hand, instead relying on the "pie-in-the-sky" promises of the now long gone IBT organizers.
For the life of me I cannot understand how anyone could possibly want to be apart of this pension scheme when proof of this failing plan is on the plans own website.
From the plans Actuarial Certification for 2009 dated April 3rd,2009
http://www.wctpension.org/whats_new/funding_status09.html
...For the WCT Plan, this projected PPA Funded Percentage as of January 1, 2009 is 84.7%, down from an actual Funded Percentage of 97.1% as ofJanuary 1, 2008 but above the 80% threshold.
Not only did the plan fall 12.4% in a single year, but it should be noted by every UAL mechanic that the January 1, 2009 84.7% figure was the result of an actuarial valuation done in
January of 2008
I'm fairly certain that everyone knows what happened to the market from Jan 08' to the present.
This is an IBT SCAM plain and simple.
Anyone wonder why, after the IBT refused Mediation(which was called for in our CBA) that they suddenly have scheduled marathon negotiations with UAL for the first 6 weeks of 2010?
They're trying to cut a deal on the pension before the next Actuarial Certification is due. A report certain to show that this wonderful plan of theirs is in endangered status.
