Owens prediction: Wrong, they already got the money from those groups that gave it up. Read the trust agreement, if we volunteer to leave the plan, which is what a YES vote is, then they get to keep the money and use it to pay their Benefit obligations, so while technically they cant buy new airplanes with it they do get the benefit of it. Yes we will get back what came out of our paychecks, plus investment experience, but if we vote YES we are agreeing to opt out and turn the funds over to the 1114 process. I agree with OldTimer and Tex Mex. We wont see the money and AA will use it as a way to look good as far as how they treated retirees at our expense. The money will go into a VEBA run by the Union till it runs out. So people like Ed Koziatek, Tim Gillespie and others, some of whom retired over a decade ago, who paid very little into the plan and recieved many, many times what they did pay into it, will continue to get coverage while those of us who paid into it for decades will see our company matches used to continue to provide them a benefit we will never see.
By voting YES we are agreeing to terminate the plan so the Bankruptcy Protection clauses do not apply, we agreed to it. and in the new agreement we allow the company to have a say in how the matching funds are used, read the LBOII. They could give us the Match back, did the tech Services guys get both back? Did Fleet? I doubt they intend on giving it back to us if we vote YES. Why do you think they are holding back on that? If we vote NO and the company unilaterally terminates the plan through its BK filing we determine what we do with our monies.
What the hell are you AMFA clowns talking about?
ATTACHMENT 41.1 PREFUNDING DOS
Mr. Robert F. Gless Deputy Director - ATD AA System Coordinator Transport Workers Union of America, AFL-CIO 1791 Hurstview Drive Hurst, TX 76054
“Employee and Company Prefunding Contributions”
Dear Robert,
During the restructuring agreement negotiations, the parties agreed that upon implementation of the changes to the Retiree medical plan program an active employee who currently prefunds for retiree medical will be refunded the employee’s prefunding account (which reflects investment experience), excluding employees who have already received employee prefunding refunds.
In addition, the parties agreed that contingent on the successful resolution of the Section 1114 process, as soon as practicable after termination of the Trust Agreement for the Group Life and Health Benefits Plan for Employees of Participating AMR Corporation Subsidiaries (Union Employees), the Company prefunding contributions for each participating active employee, and investment earnings attributable thereto, will be distributed to the employee (subject to applicable tax withholdings and/or excise tax), excluding employees who have already received refunds of their employee prefunding accounts. The refund will be made to the employee no later than 120 days following DOS.
If this letter accurately reflects the agreement of the parties, please indicate by signing below.
Sincerely, {Original Signed on File}
________________________ James B. Weel Managing Director Employee Relations American Airlines,
Inc.
Agreed to: {Original Signed on File}
________________________ Robert F. Gless Deputy Director Air Transport Division Transport Workers Union of American, AFL-CIO
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