The DOL files suit against the IAMPF and trustees

[WeAAsles]

Really Weasles? The Kline-Miller Multi-Company Pesion Reform Act
has been law since Dec. 16, 2014 and this information has been posted
numerous times, and an example of the Teamsters using the law recently
in Ohio to slash its members pension payments by 75% in one case has also
been discussed on a thread here. I know you are not stupid so why are you
playing the fool? Who's orders are you following trying to polish this turd?
And it is clearly stated in the law that the fund is required to lower pay outs
to certain classifications to make the fund solvent before it can proceed with
any other action. FYI. to anyone retiring in the next ten years, 90 % of you
will fall into that classification.
I have worked too hard to plan my retirement to have it changed "IN ANY WAY"
by an organization that lied to me about getting a vote on the association formation, I beleive they thought it was going to fail so they just shoved it down our throats. So I
will be dammed if I'am going to sit quiet and let wanna-be's like you and never-beens
like 7000 fudge the truth or happen to conveniently forget pertinent information that
could harm any member IAM or TWU with possibly making a bad decision regarding
his or hers future.

Archie tell Edith to put down that Bible, get her upstairs and give her the juice she's been needing from you for too long.

Find me the post where I said that ANY multiplayer plan is the greatest thing since Jenny Anderson first showed that hair of hers on Friends?

Maybe my "friend" 700 can enlighten you to how many arguments we've had about the issue on here in case you missed it. (obviously you did)

 

[700UW]

You can't reason with people who don't have the ability to look at the facts and react without emotions just look at the lies Timmy is posting.

 

[Roadking5560]

It's funny if the company did this every would want mgmt gone - the union did this and there seems to be a good bit of desire to stay the course - how do you prevent the current leadership from negotiating you into this situation.

I really don't understand your zealous dedication to the company.  They or any other entity that may entrusted with others money is capable of fraud or outright theft of funds not belonging to them.  I personally wouldn't blindly trust any company or organization with my money.  "Where there's a will there's a way" can work to the good or bad.

 

[jcw]

no blind trust here - just less drive to always fight with the company - interesting the blind trust being exhibited by many on here

 

[WeAAsles]

I really don't understand your zealous dedication to the company.  They or any other entity that may entrusted with others money is capable of fraud or outright theft of funds not belonging to them.  I personally wouldn't blindly trust any company or organization with my money.  "Where there's a will there's a way" can work to the good or bad.

There it is. Exactly.

 

[chilokie1]

Archie tell Edith to put down that Bible, get her upstairs and give her the juice she's been needing from you for too long.
Find me the post where I said that ANY multiplayer plan is the greatest thing since Jenny Anderson first showed that hair of hers on Friends?
Maybe my "friend" 700 can enlighten you to how many arguments we've had about the issue on here in case you missed it. (obviously you did)

I specifically remember you saying between the two you would
choose the 401K match especially if the % of match was raised.
Ok we all change our minds I get that, but you now seem to be
advocate for the IAMPF in a suttle way but a advocate for sure.
My main concern and only concern as far as you are concerned
is that I know you are or were running for a union office, I have
no idea if that election has happened and if you were successful
or not, but if you did win and now you are an advocate of the plan
where in the past you were not so much then I have a huge problem.
since you have always been very well informed on most
of the subjects on this forum, I found it especially curious your answer
about this "new law" and your supposed lack of knowledge of it
even though it has been discussed here for over a year.
And please leave the Bible out of it.

 

[WeAAsles]

I specifically remember you saying between the two you would
choose the 401K match especially if the % of match was raised.
Ok we all change our minds I get that, but you now seem to be
advocate for the IAMPF in a suttle way but a advocate for sure.
My main concern and only concern as far as you are concerned
is that I know you are or were running for a union office, I have
no idea if that election has happened and if you were successful
or not, but if you did win and now you are an advocate of the plan
where in the past you were not so much then I have a huge problem.
since you have always been very well informed on most
of the subjects on this forum, I found it especially curious your answer
about this "new law" and your supposed lack of knowledge of it
even though it has been discussed here for over a year.
And please leave the Bible out of it.

Of course I know about the Law change. And I also know which Union was advocating to death for it to be passed.

Truthfully I have no problem with the IAMPF being offered to our guys as a "choice" option for whoever might want it? Look I also know how it gets funded. It gets funded by growth. Meaning the IAM needs to grow and get in more members to the plan. I want to see that happen. I believe in UNIONS. I think without them all of us blue collar workers are screwed. And that includes Aircraft Mechanics. So yea for that reason and all the Union members currently in the plan I want to see it have a chance. And no I do not like the IAM guys selling it as the best retirement option you could ever have. I'd rather they shoot completely straight about the good and maybe bad of it.

I don't like that pension law because either its bailing out plans that F'd up or their membership is drying up and they have no choice to have to take advantage of it. I LOVE being in a Union. I love the ideology behind it. I hate retarded leaders who forget where they came from though. Some people think they're all like that though and that's complete BS because I know some good Union leaders who take chit all the time for nothing but a bunch of crybabies. Don't care who that bothers.

And BTW I lost my election and am not even a Steward anymore. Right now I want to chose who I want to help and not the people who personally I feel don't deserve it. Wearing a pin I can't make that choice. I honestly don't like "some" of my coworkers (Not members IMO, coworkers) I'm not paid crap by any Union, not told what to do or say, and say whatever the hell I want on an open forum.

Back on if I want to jump in to the IAMPF? I'll make up "MY" mind when I see what the offer is? I'll read what you guys post and your arguments against it (Give me information with links though) and I'll make my own choice?

401k match over the IAMPF? Depends on the offer? But leaning towards a 401 match especially if we could get a higher percentage.

 

[NewHampshire Black Bears]

I know that AA/TWU  agreed to go ALL  401k  for newer employees some time back.  But I 'think'  that I remembered that active OLD TIME  AA/TWU people  were still getting a defined benefit pension.   IF, no one is getting a DBP, when was it finally phased out ?

 

[Traymark]

You see this is why I have to side with Tim on this one. Having his benefits cut and then hearing about people "playing" with my money would have me outraged as well. It's as if they were mocking the fact that the benefits were cut and it would hurt the other members retirements by using even a dime of that money as their personal piggy bank. It's insulting.
On the other hand if the fund had been doing gangbusters and maybe say so well that they increased the payouts to members, I would have zero problem with what they did. They could reward themselves with Wine, Women and Song and I would even probably encourage it. But that's not the case here at all.

This post, to me, is amazing.
First you're outraged, then, if the fund was doing ok, with the fund manager picked for his lucky sperm, you would not be outraged, even though the law was still being broken.

I'm sure you're probably a great guy to have beer with, but I'm glad you lost your election, we don't need more folks complicit with shirking the laws that protect hard working people, because they can.

Then, in a later post you diminish what they did because , you know, it was only $1 million out of 10.9 billion, so really, no harm no foul.
Amazing.

These people, all of them in positions of power and trusted with membership retirement money, used it for their own selfish devices and weren't about to tell the membership about any of it either, until they got caught.
Now they come out with, well, we addressed this problem so let's move on.
Funny, I don't recall them saying anything about it , until now.

They're all dirty, those for what they did, and those for covering it up, and should be removed, post haste.
I don't see how anyone could have confidence in the current IAM to represent them, the slim margin of trust that was there is now gone.

 

[1AA]

So if the outcome should be a serious one and the fund goes into something similar to receivership can we end the Association and have a run off election? One union one voice. After all the association was to save the IAMPF and the iam dues. Just saying........

 

[700UW]

Save the pension and IAM dues?
 
Where do you dream this stuff up?
 
The IAMNPF is 101% funded and the IAM has way more money and assets than the TWU.
 
Dont let the facts get in your way.

 

[lax]

Save the pension and IAM dues?
 
Where do you dream this stuff up?
 
The IAMNPF is 101% funded and the IAM has way more money and assets than the TWU.
 
Dont let the facts get in your way.

and now we all know why lol!!!

 

[bob@las-AA]

Save the pension and IAM dues?
 
Where do you dream this stuff up?
 
The IAMNPF is 101% funded and the IAM has way more money and assets than the TWU.
 
Dont let the facts get in your way.

Prove it!

 

[700UW]

Prove it!

Arent you smart enough to find out for yourself?
 
But since your are not, here it is:
 
According to the latest LM2 on the DOL's web page, the IAM has total cash and assets of $171,382,931 and a total membership of 569,373.
 
According the latest LM2 on the DOL's web page the TWU has cash and assets of $100,568,737 and a total membership of 116,691.

 

[Rogallo]

Cool, Thanks. So your union does suck less then mine!