US Air mechanic's pension is 143.00 per month/per year

[xUT]

UAIr pension was turned over to PBGC and apparently those still working will draw on that plus the IAM plan with years under its plan.

From what I was just told, its a split between a PBGC pension and the UAIr IAM National pension of about $1400 PBGC and IAM Pension $1500 retiring around 2024 with some 16 years in the IAM pension and some 25-30 years service I'm guessing at the moment.
Like I said before, its complicated and you can't expect to jump in to the IAM plan and get 4300.
I get more I will post it.

WOW Dude!
Getting $1400 a month? Now I am really jealous...
As far as a DB plan, IMHO, the IAM plan is just a secure as any DB plan.
Take Care Bro!
B) xUT

 

[Real tired]

Before you start chanting the IAM theme song, remember the grass isn't always greener on the other side. And... IF..... it looks like we may become coworkers, you'll learn lots about the IAM.

But in the mean time, here's a little info:

Me: Mechanic - 33 years

IAM Accrued Benefit...................... $284.05

 

[Hopeful]

Before you start chanting the IAM theme song, remember the grass isn't always greener on the other side. And... IF..... it looks like we may become coworkers, you'll learn lots about the IAM.

But in the mean time, here's a little info:

Me: Mechanic - 33 years

IAM Accrued Benefit...................... $284.05

Thanks for the eye opener...In this industry, there is no green grass, let alone greenER!

 

[MCI transplant]

I don't work for AA. Retired from UA, now getting PBGC cheese (checks from State Street).
Just stating that IAM retirement is not a 'given' and has to be negotiated and vested.
Reamsters promised an immediate 5 year boost in vesting for the UA guys if they voted in the Reamsters. Of course, that never came to fruition.
Y’All be careful out there as the lions are looking for more sheep…
Take Care,
B) xUT

I worked for United also, back in 1966-67. Ramp, after I got out of the Navy. They were IAM at the time. But I remember going to a AMFA meeting, even back then. I quit, went to school, got my A&P, went to work for TWA,(IAM) which had it's own retirement plan. If I was in the IAM plan from day one, I'de be setting pretty, but I wasn't! Our TWA plan was frozen for over ten years, and the world just past us by. The same thing is happening to my AA brothers and sisters now! I was in the IAM for over 33 years. The rest is history. Got into the IAM plan after Icahn striped money out of TWA's a couple years before AA took over. So I'm getting a small check from the IAM each month, plus from the PBGC, like yourself, plus one from AA. Each one is not that great, but they all add up to a livable, but not excesive rate.

 

[john john]

But in the mean time, here's a little info:

Me: Mechanic - 33 years

IAM Accrued Benefit...................... $284.05

And your PBGC payout + your social security pay out without a offset

 

[Glenn Quagmire]

With all the twu hatred here I see the IAM as the victor in a representational election. We have already started signing IAM cards myself included

You are a fool if you think the IAM will do any better. I would rather be non-union than IAM.

 

[OutWestTech]

Hope for a merger these guys are well above us as far a pension and retire medical. Read page 89 of the US Air Iam contract.

I WISH!!!!

www.iamnpf.org
http://mypension.iam.../IAM_SPD_11.pdf
Use Table 1 - Schedule B on Page 47 (assuming 1601+ hrs worked each year except 2008)
2008 $1.60 per hr = $52.57 per month for each year (partial year - 9mo credit)
2009 $1.60 per hr = $70.09 per month for each year
2010 $1.60 per hr = $70.09 per month for each year
2011 $2.00 per hr = $85.46 per month for each year
Total benefit to date, $278.21 per month plus $85.46 for each year hereafter

JUST STATING THE FACTS
OWT

 

[OutWestTech]

You are a fool if you think the IAM will do any better. I would rather be non-union than IAM.

I would rather be ANY Union than Non-Union