So I guess the civil lawsuit is also a uncredited lie from the DOL. The length you go too to defend a loser industrial union just like the twu and IBT amazes me. These unions do not belong representing the skilled workers in the aerospace or any other industry. They are sell outs. I have been a casualty of this under the twu and the iam is no different.
The DOL files suit against the IAMPF and trustees
- Thread starter Koolcat
- Start date
When will the Union represented people see that Unions no longer represent the worker. They are businessess that are trying to survive and if by change they help the members well then that is a plus.
Wake up folks. you want something then get off your asses work hard and then you will see gains. the AA ground union employees are not willing to do what it takes.
Wake up folks. you want something then get off your asses work hard and then you will see gains. the AA ground union employees are not willing to do what it takes.
Roadking5560
Advanced
- Oct 30, 2013
- 169
- 207
In your perfect world you would be right, but when you throw in management that is imperfect it doesn't. Many in management care only for getting the planes out and on time. If the worker has to do it by himself or cut corners to get the work done so be it. God forbid something happens in that scenario because they will not back you up and you are on your own. So much for busting ass and being the hero.
- Aug 20, 2002
- 7,319
- 1,555
I didn't say you had a Checkered Past, I said Checkered Present. and if I was going to be rude like you this is where I would say "can't you read"700UW said:
I could care less about who you dig up outside of this forum, I am listening to my peers that work for the airline and are allegedly represented by the two unions.
and speaking of waiting, I have asked you several times to define the differences between actuarial and fair value of pensions. I even started another topic just for you to post in and you ignored that.
- Aug 20, 2002
- 7,319
- 1,555
From Form 5500 the Annual Return/Report of the Employee Benefit Plan 2014 ( IAMPF )
Current value of assets: Total 268,189 participants, and the current liability: $18,513,028,309
For a percentage of: 56.7800%
Could someone explain these numbers?
Current value of assets: Total 268,189 participants, and the current liability: $18,513,028,309
For a percentage of: 56.7800%
Could someone explain these numbers?
chilokie1
Senior
- May 11, 2005
- 492
- 727
That is easy Buck, first you take current value of assets and times it by. .95Buck said:
That gives you the adjusted current value of assets (but from this point on we
shall just call it the Current Value of Assets)
Then you subtract uncle Bo----- err let me start over, Then you subtract
7% for the brokers fee.
Now take the amount of participants and multiply times 50, that Buck is the Morale
and Welfare fund that each year our plan participants graciously donate so our
overworked staff can let their hair down once a month or so. Subtract that amount
from the above value.
Use the given multiplier, times it by the number of participants . Multiply it times the total years
of service .
That number should equal the Current Value Of Assets (minus the broker & morale fee)
and of course it goes without saying the 5% originally subtracted is not discussed.
If it does not match ( and of course it never will) subtract the figure you got using the
Multiplier in this case it is 56% of the current assets .
Ok Buck this is the fun part , lower the given multiplier by 44% and that equals a
Plan Funding Of 102%
Wasn't that easy
Real tired
Veteran
chilokie1 said:
Beautiful! I often wondered.
Here's a little reading on the state of the multi-employer plans of today.
From a local paper, from a local industry, but a common problem:
http://www.observer-reporter.com/20160301/united_mine_workers_president_testifies_on_failing_pension_plan
JFK Fleet Service
Veteran
Buck said:
Something something 102% something something...
Paraphrasing of course.
