The Next Twu Concession - The List Will Continue

[TWU informer]

The next TWU concession that will be added to the already lengthy list of givebacks will be the Defined Benefit Pension Plan.

Sure there will be a return of a paid Holiday or two.

But remember you heard it first.

The TWU will give away the Mechanic and Related Defined Benefit Pension Plan sometime within the next three years.

 

[Wretched Wrench]

When they converted maintc management, they gave the old guys the option of staying on the old plan. Perhaps the same accommodation will be offered to us.

Hope springs eternal.

 

[Bob Owens]

When they converted maintc management, they gave the old guys the option of staying on the old plan. Perhaps the same accommodation will be offered to us.

Hope springs eternal.

[post="301881"][/post]​

B-scale pension?

 

[TWU informer]

Very Strange,

When the TWU faithful leave and do not post, they ALL leave.

It must be one person using four or five alias'.

When one is on vacation, they ALL are on vacation.

 

[A/C FIXER]

I don't see the TWU giving the pension away, but what I do feel the company will do is this. After lets just say Jan 1 2007/ date is just for arguments sake/ the company will stop contributing to the DBP, after that date they will have a 401k type matching plan and everyone whos in the DBP will be frozen to whatever amount they have in the DBP at that time. Example, say you were to retire on Jan 1 2008 you would receive payment from the DBP at whatever you had in the plan at Jan 1 2007, then you would receive a payment from the 401k matching plan, plus your personal 401k and Social Security if they are still around. Just my thoughts on the subject.

 

[NewHampshire Black Bears]

I don't see the TWU giving the pension away, but what I do feel the company will do is this. After lets just say Jan 1 2007/ date is just for arguments sake/ the company will stop contributing to the DBP, after that date they will have a 401k type matching plan and everyone whos in the DBP will be frozen to whatever amount they have in the DBP at that time. Example, say you were to retire on Jan 1 2008 you would receive payment from the DBP at whatever you had in the plan at Jan 1 2007, then you would receive a payment from the 401k matching plan, plus your personal 401k and Social Security if they are still around. Just my thoughts on the subject.

[post="302483"][/post]​

+++++++++++++++++++++++++++++++++++++++++++++++++++++

Fixer,

For what It's worth, I AGREE with you 1000% !!!!!!!!!!!!!!!!!!!!!!

Nh/BB's

 

[TWU informer]

I don't see the TWU giving the pension away, but what I do feel the company will do is this. After lets just say Jan 1 2007/ date is just for arguments sake/ the company will stop contributing to the DBP, after that date they will have a 401k type matching plan and everyone whos in the DBP will be frozen to whatever amount they have in the DBP at that time. Example, say you were to retire on Jan 1 2008 you would receive payment from the DBP at whatever you had in the plan at Jan 1 2007, then you would receive a payment from the 401k matching plan, plus your personal 401k and Social Security if they are still around. Just my thoughts on the subject.

[post="302483"][/post]​

Excuse me, but that would require a labor agreement change, and that is GIVING AWAY the Defined Benefit Plan, and yes you are correct. Whatever, the company wants, the company gets with the TWU around.

I feel quite sure that dollar for dollar the TWU member will be in a concessionary deficit.

 

[Wretched Wrench]

Little and Company will have no reason to protect the pension, as they have provided themselves with a TWU pension that is far better than ours.

 

[TIME FOR CHANGE]

B-scale pension?

I couldn't have said it better

😀