The DOL files suit against the IAMPF and trustees

[700UW]

Actually Weaasles when the M&R joined they did waive the vesting to immediately and have done so with all the airline members who have joined the plan over the past few years and they would certainly do that for the TWU members who would join from AA if the pension is negotiated.

 

[Buck]

Actually Weaasles when the M&R joined they did waive the vesting to immediately and have done so with all the airline members who have joined the plan over the past few years and they would certainly do that for the TWU members who would join from AA if the pension is negotiated.

The AA membership does not want to negotiate your IAMPF to save your A..es

 

[700UW]

The AA membership does not want to negotiate your IAMPF to save your A..es

So you are speaking for all of the TWU?

And I'm not in the plan so your not saving anything and the plan is in the green status, your not saving anything.

Don't let the facts get in your way.

 

[Traymark]

As I silently read all the posts, I used to think you were a stand up type guy, back when you signed our petition, but now I wonder.
 
Some of your posts are becoming sickening.  You and your "friend".
 
Since we all hunger for knowledge, here's a little document that everyone can read and make their own choice.
 

2014_5500_excerpt.pdf
 
I hope the file works, if it doesn't, I'll try again.  Get it while it hot.  I won't host it for long.

  

Actuarial Value and Fair Value in 2012 by Credit  Suisse
 
Source: Form 5500 Filings, Credit Suisse Accounting & Tax Research
 
I would like an explanation for the Fair Value of 57%  charted page 5
 
 
 
 
 
 

document-957405261.pdf

Thank you both for posting these documents, made screen shots of the needed info.

So, we have proof now that the fund is nowhere near 100% funded, this fund is in trouble and it has criminals running it.
No thank you.

 

[Jester]

Actuarial Value and Fair Value in 2012 by Credit  Suisse
 
Source: Form 5500 Filings, Credit Suisse Accounting & Tax Research
 
I would like an explanation for the Fair Value of 57%  charted page 5
 
 
 
 
 
 

document-957405261.pdf

 
I know my information is more general in nature, but I think the analysis from Credit Suisse was telling in this editorial....
 
"Analysts at Credit Suisse crunched the numbers on 1,354 of the country’s 1,459 multi-employer pension plans and concluded they are collectively $369 billion short of the money needed to cover their liabilities and are only 52 percent funded. That’s more than double the $160 billion deficit previously estimated by FASB."
 
http://www.weeklystandard.com/the-next-pension-crisis/article/642190
 
Maybe the IAMNPF is better managed than the average (and I have my doubts), but these multi-employer plans as a whole appear to be having some serious financial problems.

 

[Buck]

So you are speaking for all of the TWU?

And I'm not in the plan so your not saving anything and the plan is in the green status, your not saving anything.

Don't let the facts get in your way.

Since you are not in the plan there was real need for you to respond.  Don't let the facts get in your way.

 

[700UW]

Do you understand the concept of a message board?

 

[WeAAsles]

Another cause for concern and why I was ecstatic that AA was not allowed to throw its obligations onto the PBGC.

http://m.pionline.com/article/20151117/ONLINE/151119879/pbgc-deficits-rise-in-fiscal-year-2015-annual-report-says/

 

[MetalMover]

Metal I saw you added a question. I know the plan has a vesting period but there's no way that's not going to be waived if we joined in. Especially if some ass hats (Nelson phrase) forced us into the plan.

And I'm still (hopefully not naively) sticking to the idea that we'll be given a choice?

That is the million dollar question...If it is forced upon us, I see any t/a which does exactly that getting voted down.

 

[lax]

It does kind of put a bad taste in my mouth for that reason as well. Being mad at the company for screwing us on our Pension is one thing. But I do hate the idea that people will hate their Union if they feel they screwed them as well when the plan takes hits and especially if it took even more in the future and they wouldn't let me get out before that happened.

Teamsters especially.

 
 
where you been dave? people already hate this union ass criminal organization for that exact reason.  if they'd given guys the chance to elect them much of this vitriol would've been suppressed.  no one likes to feel screwed, that seems to be how most members feel. if this group really had the memberships interest at heart they would've torn up little's unilateral back room deal and allowed the members to make the choice. twu iam or ass...pretty simple.  further, most agreements can be reconciled if the parties to them agree to do so, but you know that aint happening with these greedy bastards.  these guys are worse than the company imho because the members pay their ass to represent us and they repay us by stealing our money on a continuous basis.  and whats worse is they have no incentive to do the right thing because we can't even fire their asses. how you make excuses for these guys is beyond me...sad sad sad!!!!!

 

[Buck]

Do you understand the concept of a message board?

I didn't say anything about your right to post here, I just indicated that it might be a waste of your time, since you appear to be retired and enjoying IAMPF.
 
There are a lot of people that have more than one source of income in retirement. 
 
Since I am a member of the TWU and working for American Airlines I at least have more right than you.
 
Unless you are employed by one of the airlines or unions......

 

[WeAAsles]

where you been dave? people already hate this union ass criminal organization for that exact reason.  if they'd given guys the chance to elect them much of this vitriol would've been suppressed.  no one likes to feel screwed, that seems to be how most members feel. if this group really had the memberships interest at heart they would've torn up little's unilateral back room deal and allowed the members to make the choice. twu iam or ass...pretty simple.  further, most agreements can be reconciled if the parties to them agree to do so, but you know that aint happening with these greedy bastards.  these guys are worse than the company imho because the members pay their ass to represent us and they repay us by stealing our money on a continuous basis.  and whats worse is they have no incentive to do the right thing because we can't even fire their asses. how you make excuses for these guys is beyond me...sad sad sad!!!!!

If it was so easy to just tear up a contract (Agreement) don't you think AA would have teared up as many as they wanted to and not had to go through Bankruptcy court and ultimately lose control of the company to Doug Parker?

Also don't you think that when the agreement was signed both Unions ran it past legal to make sure it was airtight even if a new leader for one group may not have liked what his predecessor had done?

TWU and IAM are just acronyms on a glass door. Little, Buffenbarger, and Trumka are names.

 

[WeAAsles]

That is the million dollar question...If it is forced upon us, I see any t/a which does exactly that getting voted down.

And if it happens and passes anyway I'm going to raise my 401k up by 5.5% just in case the future isn't so bright in another area.

 

[Rogallo]

 
 
where you been dave? people already hate this union ass criminal organization for that exact reason.  if they'd given guys the chance to elect them much of this vitriol would've been suppressed.  no one likes to feel screwed, that seems to be how most members feel. if this group really had the memberships interest at heart they would've torn up little's unilateral back room deal and allowed the members to make the choice. twu iam or ass...pretty simple.  further, most agreements can be reconciled if the parties to them agree to do so, but you know that aint happening with these greedy bastards.  these guys are worse than the company imho because the members pay their ass to represent us and they repay us by stealing our money on a continuous basis.  and whats worse is they have no incentive to do the right thing because we can't even fire their asses. how you make excuses for these guys is beyond me...sad sad sad!!!!!

 
Two Thumbs Up!

 

[Deleted member 14439]

where you been dave? people already hate this union ass criminal organization for that exact reason.  if they'd given guys the chance to elect them much of this vitriol would've been suppressed.  no one likes to feel screwed, that seems to be how most members feel. if this group really had the memberships interest at heart they would've torn up little's unilateral back room deal and allowed the members to make the choice. twu iam or ass...pretty simple.  further, most agreements can be reconciled if the parties to them agree to do so, but you know that aint happening with these greedy bastards.  these guys are worse than the company imho because the members pay their ass to represent us and they repay us by stealing our money on a continuous basis.  and whats worse is they have no incentive to do the right thing because we can't even fire their asses. how you make excuses for these guys is beyond me...sad sad sad!!!!!

AMEN!!