Why no contract from the Association?

[NYer]

Total contradiction.
For those that don't realize it, you can diversify your portfolio completely within your 401K and keep 100% control of your money instead of handing over total control of your money to a union that you may or may not agree with or like the way they are representing you down the road.

Yes and no. Although the 401K has the option of where to put your money the choice of the company that holds our account, Fidelity, was made by the airline and the funds available to park the money in that account was chosen or put together by that outside company and the airline.

Control? Yes and no.

Point being, some people would rather have the 401K as it stands and others would want to have the IAMNPP.

Nothing wrong with having a choice.

 

[Traymark]

[QUOTE="WeAAsles, post: 1265231, member: 13419"]Why are you making the assumption that it necessarily has to be an adversarial relationship especially if it has to do with both making investments in an employers workforce and a Unions members?

Your comment doesn't make sense and only comes from the perceptions you have in your own work history.[/QUOTE]

Not my assumption or comment.
#2 was lifted from the IRS Document in the link.
That was the IRS trying to tell those who would listen : Watch Out!!!!

 

[chilokie1]

Yes of course they are "formally" The term is meant to imply that the viewpoints of management don't always coincide with the viewpoints of the Representing Labor group. Especially that's going to occur during contract negotiations.

Again you all continue to leave out the fact that no employer under a Union contract wants to get stuck with an older workforce that eventually becomes very expensive through productivity and Medical expenditures.

It's in both groups interests to make wise prudent investments in Retirement areas to transition those older workers out. (Why do you think companies also offer buyouts to older workers and not younger ones)

Are you kidding me? How many of these prudent decision makers actually have the IAMPF as their primary retirement source? Did you forget that the company you work for erased your retirement medical with the stroke of a pen, and now you have retirement age employees hanging around until they can qualify for the medicare they payed for themselves.

 

[chilokie1]

Yes and no. Although the 401K has the option of where to put your money the choice of the company that holds our account, Fidelity, was made by the airline and the funds available to park the money in that account was chosen or put together by that outside company and the airline.

Control? Yes and no.

Point being, some people would rather have the 401K as it stands and others would want to have the IAMNPP.

Nothing wrong with having a choice.

Great! Then let the current IAMPF hostages switch to the 401k match

 

[WeAAsles]

Are you kidding me? How many of these prudent decision makers actually have the IAMPF as their primary retirement source? Did you forget that the company you work for erased your retirement medical with the stroke of a pen, and now you have retirement age employees hanging around until they can qualify for the medicare they payed for themselves.

And those same individuals do not want to look up how much they may be able to pay for a plan under the ACA because all they know is that AA to them is the only thing out there. They don't do as a another poster likes to use a lot their "due diligence"

And yes maybe some people (stupidly) only have the IAMPF that they're relying on? I think US Mechanics have been in it a long time but Fleet got in it later?

To turn that around Chil how many of our guys put NOTHING into the Super Saver only relying on what they would get from their AA DBP? Even worse how many had zero clue even how much that amount was going to be? (A ton of people)

 

[WeAAsles]

And Chil they didn't erase our retirement Medical because we were Prefunding paying for that Medical ourselves anyway. Not counting the match portion of course that money was refunded to us.

Now how many people do you think reinvested that for their retirement Medical needs? 5% of BOTH our workgroups at best? More? Less?

 

[NYer]

Great! Then let the current IAMPF hostages switch to the 401k match

Hopefully, they get that choice.

 

[chilokie1]

And those same individuals do not want to look up how much they may be able to pay for a plan under the ACA because all they know is that AA to them is the only thing out there. They don't do as a another poster likes to use a lot their "due diligence"

And yes maybe some people (stupidly) only have the IAMPF that they're relying on? I think US Mechanics have been in it a long time but Fleet got in it later?

To turn that around Chil how many of our guys put NOTHING into the Super Saver only relying on what they would get from their AA DBP? Even worse how many had zero clue even how much that amount was going to be? (A ton of people)

I can only advocate for a fair and just retirement opportunity, I can't fix stupid.

 

[WeAAsles]

I can only advocate for a fair and just retirement opportunity, I can't fix stupid.

And to me still the most fair and just retirement opportunity is having as many choices as possible. And that includes (at least) us having a choice of getting in the IAMPF or not for members both old and young.

Your choice, my choice, our choice.

 

[chilokie1]

Hopefully, they get that choice.

I'am betting world peace has a better chance

 

[WeAAsles]

And I was just informed US Maintenance got in the IAMPF in 2008 and were always under Schedule B so they never took a cut and Fleet was in around 2002 or so and did go from Schedule A to Schedule B when the pension plan had to make cuts because of the Law change.

And Fleet had their DBP Pension Frozen because they were non union and had no choice on the matter and then they all had their DBP's thrown into the PBGC with their Bankruptcy. That's also when Maintenance went in to the IAMPF.

 

[chilokie1]

And to me still the most fair and just retirement opportunity is having as many choices as possible. And that includes (at least) us having a choice of getting in the IAMPF or not for members both old and young.

Your choice, my choice, our choice.

God, that sounds like a quote from a bad PSA.

 

[WeAAsles]

I'am betting world peace has a better chance

It's certainly and honestly not going to look too fair if they don't get the same choices as we might get.

 

[WeAAsles]

God, that sounds like a quote from a bad PSA.

lol. Ok yea it does.

 

[chilokie1]

And I was just informed US Maintenance got in the IAMPF in 2008 and were always under Schedule B so they never took a cut and Fleet was in around 2002 or so and did go from Schedule A to Schedule B when the pension plan had to make cuts because of the Law change.

And Fleet had their DBP Pension Frozen because they were non union and had no choice on the matter and then they all had their DBP's thrown into the PBGC with their Bankruptcy. That's also when Maintenance went in to the IAMPF.

Thanks for the information