The DOL files suit against the IAMPF and trustees

[Traymark]

If these Federal charges are proven, then this should be the final proof that the Iam is unfit to represent any AMTs (or any group) and should be decertified.
Nobody wanted the Iam at AA or this damned "association", the Twu is bad enough.
Separate my ###.

Agree, Lombardo should be leading the charge for decertification of the IAM at AA and we should move forward with the TWU.

 

[700UW]

If these Federal charges are proven, then this should be the final proof that the Iam is unfit to represent any AMTs (or any group) and should be decertified.
Nobody wanted the Iam at AA or this damned "association", the Twu is bad enough.
Separate my ###.

Charges?

It's a civil suit, not criminal.

 

[Show me the money]

Charges?

It's a civil suit, not criminal.

Not an America Employee, Not an AMT, Not RELEVANT!

 

[700UW]

Not an America Employee, Not an AMT, Not RELEVANT!

LOL

 

[JABORD]

I personally would like to see the IAM transition away from pensions entirely, and focus more on getting higher company contribution amounts and matching percentages for their members...

(Full disclosure: I'm currently a participant in the IAMNPF)

Hey friend help me out. My understanding is the USAir folks were not given a choice to turn down 401k participation INDIVIDUALLY in their post-BK T/A (2008?) but it was a COLLECTIVE choice that would have required the whole T/A to be refused by membership if they weren't interested in the IAMNPF. This question was posed in the past here and 700 went mute.
 
Also, should this be cause for concern?:
http://www.usaamerger.com/twu-iam-association-qa-part-ii/
 
Q22: Would all union (TWU/IAM) members have a choice on joining or staying in the IAMNPF or 401K with match?
IAM members have already voted to participate in the IAMNPF instead of the company-offered 401K match. If the company agrees in negotiations, TWU members will also have the same option.

 

[700UW]

In 2005 our CBA was abrogated, and the pension we had from US was terminated and replaced with a DCP and we already had a 401k match due to an arbitration win.
 
In 2008 with the Transition Agreement bringing the former HP members over M&R voted for the IAMNPF in lieu of the 401k Match.

So yes all mechanic and related at PMUS/PMHP voted on entering the pension plan.

 

[Tim Nelson]

Tim I'm far and away not against your idea here especially if people were stealing your money but don't you think it would be wise to wait for the DOL outcome before you consider filing a lawsuit? First if they're found guilty the suit calls for those people to return the funds that they misappropriated. Will they be financially able to is the question? But from there I would think is when you should consider any type of Class Action?

I'm not sure of any of this WeAAsles, that's why I sought out counsel to find out the potentially different avenues. The IAM has $350 millon, if the INTL president allowed our monies to get dumped into certain underperforming funds then I have a problem with that when I got a letter saying that the fund investments were underperforming and that my pension would be whacked in half on Jan 1, 2014. The IAM has to uphold my CBA, and the IAMPF is in it, so why not sue the hell out of the union as well? Like I said, I'll get the support to seek counsel for at least a consultation then go from there.

So, as in any investment, it isn't just about how much cash was spent but why were the investments in underperforming funds. Was it because of of qui pro quo of blowing $700,000 of our dime on parties, etc, and in return Martinez and the other anti unionist allowed certain fund managers access? Dunno, but we have to find out what is going on and it doesn't hurt to have a counselor added to protect our interest as we work through these difficult issues.

regards,

 

[700UW]

I'm not sure of any of this WeAAsles, that's why I sought out counsel to find out the potentially different avenues. The IAM has $350 millon, if the INTL president allowed our monies to get dumped into certain underperforming funds then I have a problem with that when I got a letter saying that the fund investments were underperforming and that my pension would be whacked in half on Jan 1, 2014. So, as in any investment, it isn't just about how much cash was spent but why were the investments in underperforming funds. Was it because of of qui pro quo of blowing $700,000 of our dime on parties, etc, and in return Martinez and the other anti unionist allowed certain fund managers access? Dunno, but we have to find out what is going on and it doesn't hurt to have a counselor added to protect our interest as we work through these difficult issues.

regards,

You are spreading lies again, they didnt spend $700,000 on a party.
 
Why are you posting lies when the exact dollar amounts are in the law suit filed by the DOL?
 
$700,000 was the hiring if the consultant group which the DOL says was improper.
 
And you wonder why you have no credibility, stop posting lies, post the facts and truth.

 

72. The Trustees caused the Fund to pay for unnecessary, lavish parties and dinners for its Trustees and service providers as well as trips for Board meetings. For example:

• 
    An October 3, 2011 dinner paid for by the Fund featured bottles of wine priced as high as $1,185, and included Trebour, six Fund staff members, and two service providers.
  
• 
    On March 14, 2011, the Fund paid a $1,954.39 Investment Committee (Mart and Trebour) dinner bill, including two bottles of wine at $125 a bottle and two bottles of wine costing $375 a bottle.
  
• 
    The Fund paid in excess of $90,000 for two Fund holiday parties, one in 2009 and one in 2010.
  
• 
    The Fund paid $2,680.23 for a retirement party for a Fund Employee on August 13, 2008. 
  

 
 
 

 

[WeAAsles]

Hey friend help me out. My understanding is the USAir folks were not given a choice to turn down 401k participation INDIVIDUALLY in their post-BK T/A (2008?) but it was a COLLECTIVE choice that would have required the whole T/A to be refused by membership if they weren't interested in the IAMNPF. This question was posed in the past here and 700 went mute.
 
Also, should this be cause for concern?:
http://www.usaamerger.com/twu-iam-association-qa-part-ii/
 
Q22: Would all union (TWU/IAM) members have a choice on joining or staying in the IAMNPF or 401K with match?
IAM members have already voted to participate in the IAMNPF instead of the company-offered 401K match. If the company agrees in negotiations, TWU members will also have the same option.

Here's how it could work. The Negotiators propose to the company both the IAMPF and a 401k match. The company comes back with no. You can choose either one or the other. There are an even number of negotiators on both sides to vote on agreeing to TA anything. So let's say (And of course we hope not) The IAM side says ok, Pension and the TWU side says 401k. Well what we have is a standoff if neither side decides to move. ultimately though it should be a choice for the individual (ALL) to make. If an IAM guy wants to get out of it he should be able to, and if a TWU guy wants to get in same thing. 

Remember it also says "If the company agrees in negotiations" So the company has a BIG say in where they want to invest our retirement incomes. I've said before they do not want a bunch of old geezers hanging around the place and costing them a fortune in medical expenses and productivity. Not to mention when we leave they bring in a kid at the bottom of the pay-scale.

 

[JABORD]

In 2005 our CBA was abrogated, and the pension we had from US was terminated and replaced with a DCP and we already had a 401k match due to an arbitration win.
 
In 2008 with the Transition Agreement bringing the former HP members over M&R voted for the IAMNPF in lieu of the 401k Match.
So yes all mechanic and related at PMUS/PMHP voted on entering the pension plan.

So you confirmed that all members would have had to reject the entire T/A to rid the IAMNPF option. That really doesn't seem like a genuine choice, especially following the repeat of a tactic by the Company to delay and create angst regarding compensation. Problem is the IAM pushing the IAMNPF is a major conflict of interest. Will they hang tough on concessions that the Company has an interest to pillage? Doubt it.
 

Also, should this be cause for concern?:
http://www.usaamerger.com/twu-iam-association-qa-part-ii/
 
Q22: Would all union (TWU/IAM) members have a choice on joining or staying in the IAMNPF or 401K with match?
IAM members have already voted to participate in the IAMNPF instead of the company-offered 401K match. If the company agrees in negotiations, TWU members will also have the same option.

 

[700UW]

No Union votes on a CBA article by article, you vote on the total package.

 

[WeAAsles]

I'm not sure of any of this WeAAsles, that's why I sought out counsel to find out the potentially different avenues. The IAM has $350 millon, if the INTL president allowed our monies to get dumped into certain underperforming funds then I have a problem with that when I got a letter saying that the fund investments were underperforming and that my pension would be whacked in half on Jan 1, 2014. The IAM has to uphold my CBA, and the IAMPF is in it, so why not sue the hell out of the union as well? Like I said, I'll get the support to seek counsel for at least a consultation then go from there.

So, as in any investment, it isn't just about how much cash was spent but why were the investments in underperforming funds. Was it because of of qui pro quo of blowing $700,000 of our dime on parties, etc, and in return Martinez and the other anti unionist allowed certain fund managers access? Dunno, but we have to find out what is going on and it doesn't hurt to have a counselor added to protect our interest as we work through these difficult issues.

regards,

Anyway you cut it, this is an important question to be answered? Those Trustees did have a fiduciary responsibility to the Plan participants. This could become a question of "How deep does the rabbit hole go" And if I was a member or even a perspective member of the trust I would want those questions answered ASAP? 

After this is all over I believe if they can they should implement a yearly "Independent" audit that can be read by ALL members, IMO.  

The money

 

[WeAAsles]

No Union votes on a CBA article by article, you vote on the total package.

Will the IAM hierarchy stand firm in including the IAMPF to be negotiated for ALL Association members even if that means giving up the 401k Match on the TWU side that we currently enjoy?

You and I both know that there is not a lot of autonomy within the IAM structure if any of those guys in that room want to disobey a directive to push for the plan.

 

[JABORD]

Here's how it could work. The Negotiators propose to the company both the IAMPF and a 401k match. The company comes back with no. You can choose either one or the other. There are an even number of negotiators on both sides to vote on agreeing to TA anything. So let's say (And of course we hope not) The IAM side says ok, Pension and the TWU side says 401k. Well what we have is a standoff if neither side decides to move. ultimately though it should be a choice for the individual (ALL) to make. If an IAM guy wants to get out of it he should be able to, and if a TWU guy wants to get in same thing. 

Remember it also says "If the company agrees in negotiations" So the company has a BIG say in where they want to invest our retirement incomes. I've said before they do not want a bunch of old geezers hanging around the place and costing them a fortune in medical expenses and productivity. Not to mention when we leave they bring in a kid at the bottom of the pay-scale.

"If I could've, would've, should've"!
"what we have is a standoff"!?
 
What did you contribute other than conjecture and speculation? I remind you the IAM is in charge and encourage you to research the Committee's Chair - Reagon and his 'MO'. These were pointed questions that were looking for info of substance.

 

[Kev3188]

Agree, Lombardo should be leading the charge for decertification of the IAM at AA and we should move forward with the TWU.

If that should come to pass, does anyone know if having a vote on representation is possible? Might be the chance you guys didn't originally get?