Why no 1114 decision, months after hearing?

[MetalMover]

Here is an update that got missed.
 
http://twu514.org/blog/2013/11/19/here-is-a-bit-of-information-that-was-posted-back-in-november-5-2013-concerning-the-1114-bankruptcy-and-retirees/

 

[Birdman]

Here is an update that got missed.
 
http://twu514.org/blog/2013/11/19/here-is-a-bit-of-information-that-was-posted-back-in-november-5-2013-concerning-the-1114-bankruptcy-and-retirees/

Looking forward to an end to this debacle so I can end the daily trolling for information on the fate of our company match. One bright spot is the pride in knowing I spent the last 13 years of my AA career in bad standing, aka agency fee/hand pay. BTW, working for Southwest Airlines is awesome!

 

[Rogallo]

Yeah, but doing a PS, fixing a tray table and going to sleep is even better!  
 (according to Overspeed)

 

[Thomas Paine]

Here is an update that got missed.
 
http://twu514.org/blog/2013/11/19/here-is-a-bit-of-information-that-was-posted-back-in-november-5-2013-concerning-the-1114-bankruptcy-and-retirees/

My take; The company will not terminate the plan in Bankruptcy, because that would make all the retirees creditors, they will terminate the plan once they exit Bankruptcy and cite the fact that it was agreed to by the Unions.
 
The retirees will get the balance of what remains from their contributions each of them has in the plan, in other words those under 65 may get something, those over 65 will get nothing. Thank Judge Lane for not ruling on this as part of the Bankruptcy as it should have been since it was part of the contract put in place in Bankruptcy. 
 
Isn't the US deal contingent on them dumping retiree medical? Yes, but then again if both parties, AA and US agree they can change that. 
 
Look at it this way, you got that coverage for a year longer than you would have,  you could have lost it when the contract was ratified back in September of 2012, I hope all you retirees didn't put any medical procedures off and are as tuned up as you can be. A new hip, knees or bypass surgery would probably come in at more than any equity stake you would have been entitled to. If not get in there before they exit Bankruptcy!
 
Bottom Line; If the retirees think that they will still have their plan a year from when AA exits Bankruptcy they are delusional.

 

[Thomas Paine]

Looking forward to an end to this debacle so I can end the daily trolling for information on the fate of our company match. One bright spot is the pride in knowing I spent the last 13 years of my AA career in bad standing, aka agency fee/hand pay. BTW, working for Southwest Airlines is awesome!

Congratulations on your Professional success. Please help keep the standards high over there.

 

[700UW]

Actually you are wrong, if the pension is terminated you dont become a creditor, I have been through at US Airways, the terminated pension is turned over to the PBGC and your pension gets reduced and you dont earn any future accruals.

 

[Thomas Paine]

Actually you are wrong, if the pension is terminated you dont become a creditor, I have been through at US Airways, the terminated pension is turned over to the PBGC and your pension gets reduced and you dont earn any future accruals.

You don't know what WE are talking about. We are talking about the prefunded retiree medical.

 

[IORFA]

Actually you are wrong, if the pension is terminated you dont become a creditor, I have been through at US Airways, the terminated pension is turned over to the PBGC and your pension gets reduced and you dont earn any future accruals.

Pay attention to the topic at hand. You answered a question that wasn't asked. You're getting closer to getting the treatment so many have given WT.

 

[FWAAA]

If it isn't Lisa Simpson, Springfield's answer to the question NO ONE ASKED!
 
--Ned Flanders

 

[AMFAinMIAMI]

Actually you are wrong, if the pension is terminated you dont become a creditor, I have been through at US Airways, the terminated pension is turned over to the PBGC and your pension gets reduced and you dont earn any future accruals.

 
As mechanics we don't make enough to have it reduced by the PBGC,  and what ever the reduced pension is from the PBGC it is the percentage that the pension was underfunded going in.
 
But again you are talking about AA which you are not a part of or know much about accept what google tells you.

 

[700UW]

The payout has nothing to do with the level of underfunding, there are pre-set limits from the PBGC all ready determined.
 
I do know about the PBGC and the pension, I was on the NC when it happened at US and I live it, because my pension is REDUCED from what it would have been.
 
So once again, dont let the facts get in your way.

 

[IORFA]

Still not what the topic is!

 

[700UW]

Are you the board moderator now?
 
I simply replied to a poster, why dont you tell him he is off topic?
 
If you dont like it, dont read it and put me on ignore.
 
And by the way your post is not about the topic at hand either.

 

[Thomas Paine]

Still not what the topic is!

He has Miami on the hook, he aint gonna let go now. Since he has no idea what prefunding is he doesn't want anybody to talk about it.
 
Don't let the topic get in your way, 700.