Why no contract from the Association?

[Traymark]

I've done my research on it.
It sucks. That is all.

 

[Albert]

If I lived to 150 , I still want my 401, my frozen AA pension and whatever SS I can collect over ANY value of an IAMPF in any way shape or form.

Just to make it clear,
There is no scenario, none, that I would choose the IAMPF over an enhanced 401K and whats left of my frozen AA pension. No scenario, period. Stop.


Just to add about the PBGC,
If our frozen AA pensions ever get thrown into that, we will ALL still get every penny as the PBGC covers pensions up to the 50K per year area, maybe a little more. Nobody at AA has pensions that were worth more than that.
The pilots were very worried because they had way more to lose, but, they got theirs.

The PBGC is running short on funds too.

 

[WeAAsles]

If you decide to leave AA, it's portable.

The money is in your account "right now."

If you kick off (God forbid) your designated heir(s) receive the money w/o the same penalties as the IAMNPF.

During the next industry downturn you won't see people breathlessly running around breakrooms harumphing about "saving the pension" at all costs.

You won't see Glass & Co. holding it over your collective heads like a sword of Damocles to get whatever items they want during the next talks.

Etc.

The healthy amount I have in there already yes is portable. But most of us are not deciding to leave AA anyway.

We earn too much to make that move.

 

[WeAAsles]

I've done my research on it.
It sucks. That is all.

If you have less than 5 years to go I would be riding with you on it 100%. But I probably have a little more time left than you do?

 

[Traymark]

If I was a new hire, I'd go with the 401K over the IAMPF,
And it's not close.

 

[Albert]

If I was a new hire, I'd go with the 401K over the IAMPF,
And it's not close.

I agree with with alll your negative on the IAMPF but if you are a new fleet the company is putting in $1.15 per hour towards your plan if they give you a 5% match it comes out to less. I'm to lazy to do the math and I know what good is it if the plan is insolvent. To be honest I don't know too may 18 year olds who give a chit remember at that age you thought you'd live for ever

 

[WeAAsles]

I agree with with alll your negative on the IAMPF but if you are a new fleet the company is putting in $1.15 per hour towards your plan if they give you a 5% match it comes out to less. I'm to lazy to do the math and I know what good is it if the plan is insolvent. To be honest I don't know too may 18 year olds who give a chit remember at that age you thought you'd live for ever

When I hired on I didn't even know what Prefunding was that was being taken out of my check much less giving a damn about Medical and Retirement. I was told I get a Pension. (Ok cool)

And I wasn't even 18. I was 30.

 

[Albert]

When I hired on I didn't even know what Prefunding was that was being taken out of my check much less giving a damn about Medical and Retirement. I was told I get a Pension. (Ok cool)

And I wasn't even 18. I was 30.

There were no Walmarts in NY back then, were there? Caldors didn't have greeters

 

[AA89]

I still have an IRA from my first job in aviation in 84.I had both a 401K and retirement plan at that company. I was 23 years old. Not everyone has their head in the sand at that age.
I'm soon to be 56 and I still have that IRA and my AA 401K. I trust company retirements only slightly more than union retirements. ( My Aunt is 93 with a Teamster retirement) I want nothing to do with the IAMPF and would rather see no increase in the 5.5 match than get involved with that mess.

 

[Traymark]

I agree with with alll your negative on the IAMPF but if you are a new fleet the company is putting in $1.15 per hour towards your plan if they give you a 5% match it comes out to less.

Someone needs to explain to me :
Why should we be expecting only a 5% match on our 401K?????
That is no where near "Industry Leading".
We should be expecting no less than 10%, and it really should be more like 12 or 13%, and
It should be a CONTRIBUTION.

Lets just eliminate all talk about the IAMPF for LAA and max out the 401K Contribution/Match number to the absolute highest number that can be achieved.
There is no way the match number should stay at or anywhere near 5%.
If this NC can't get that number raised significantly in these economic conditions, then what the hell are we doing having these guys negotiate for us?

 

[1AA]

Another reason to maximize your 401K with the help of the company match. The more you work the more your SS benefits will be and your 401K. You can't do this with the IAMPF. It's a fixed amount and you can't add more to it.
Today you need every little bit you can muster up for returenent. Another no brainer why the 401K is no match for the scam IAMPF.

https://finance.yahoo.com/m/f0348bfb-409d-37b9-beb9-610502c3d47a/ss_these-americans-will-never.html

 

[Traymark]

The PBGC is running short on funds too.

And the PBGC will still pay more of our frozen AA pension to us if it ends up there than we would ever get from the IAMPF after it totally fails = it's well on it's way there.

Keep bringing it , The IAMPF is a Failure by any measure when compared to even the worst 401K in the industry.

 

[Eagle]

Keep it on topic please.

Just a reminder: Anyone is welcome to post on any thread regardless of classification or employer.

The moderators do not lurk in threads waiting to pounce on inappropriate content. If you don't report it, odds are we won't see it. This hands off approach is what the membership has repeatedly (and overwhelmingly) stated they prefer.

 

[Traymark]

Thank you Eagle.
This thread , currently , is the most relevant to TWU/IAM membership at AA.

The reasons for the contract delay need to be examined directly, and I will continue as I'm sure others will, with pointing out the pitfalls of the IAMPF which I believe is one of two main sticking points.

Main reason for choosing a 401K over any pension plan:
YOU have TOTAL control of your money.
You are not tied to a job, company or Union to get your return on your retirement savings.
A 401K is completely portable, while the IAMPF locks you into staying with the IAM, and also staying in your current job.
No one can foresee the future, you may get a better opportunity down the road, even current new hires at AA.
A 401K allows you the portability to make the best decision for YOU and your family without any strings attached.

 

[WeAAsles]

But there are several individuals who hijack the threads instead of you putting those in the cornfield you shut a whole thread down. Us amts are talking our issues then a certain fleet service clerk comes on and causes problems who dose not have our proplom s and when people disagree with him . He post hateful messages . Look at what he posted in sw amt thread very rude hateful .

Being honest is NOT hateful. YOU just don't like the message but the fact on that particular comment is absolutely the fact.

Hateful is being called juvenile names like Douch and Moron. But only little girls run to Mommy and Daddy every time they're called a name.