TWU informer
Veteran
- Nov 4, 2003
- 7,550
- 3,731
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.
If you can get us this in writing, I can get us 200 No Votes before the deadline to end voting arrives.