Why no contract from the Association?

[WeAAsles]

C'Mon Man! Its time to get off the fence, everybody knows this discussion is not personal & you will not offend the IAM guys by doing the right thing and let the facts rule. Do you see companies return to insourcing policies instead of outsourcing more union jobs? If the plan was not in trouble its funding % should be increasing with the stock market record highs. Instead its funding dropped 7-8% in just the last 2 years!

Seriously, what is wrong with this picture? The company in this story wants its employees out of the
Teamsters plan because it believes it is failing, yet my union is trying to get its membership into a plan that is questionable at best!

America is insourcing more jobs back actually but they're also making more investments in automating as the money rolls in over having human hands do the work. So yea I'm concerned. No sugar coating it.

It's not about being on the fence on the issue or offending any IAM guys out there I've gotten to know. If that was the case I'd simply be ignoring any of the bad news about the fund and singing La Di Da Di Da.

But and it's a big but does any concern (reservations) we have about the IAMPF matter anyway? The MOU signed by Robert Gless (Bobby Gless) says the TWU "People in now" will "propose" to the Company our inclusion in the IAMPF. So as I read that agreement even if it were you or I in there we HAVE TO "propose" the membership gain access to the plan. And we HAVE TO support current plan participants stay in it. Do you read it any other way than I do Chil?

What I don't want is if/when it comes rolling around to see is the IAM side giving us the hard sell on it with color brochures, balloons, candy and party favors. I've never liked the hard sales pitches and find them intellectually insulting.

https://twu514.org/files/2013/05/TWU-IAM-Joint-Agreement-on-Pensions.pdf

 

[WeAAsles]

The IAMPF is on the list although it's mentioned as the IAM in the article.
The information is out there and we need to read it.

https://nrtwc.org/underfunded-union-pensions/

1AA don't post any garbage from the National Right To Work Center or I'm going to start labeling you a SCAB and a Union hater.

 

[1AA]

http://www.pensionrights.org/issues...visions-multiemployer-pension-reform-act-2014


http://www.airlinecrew.net/vbulletin/showthread.php?225830-IAM-Pension-it-s-scary-stuff

 

[WeAAsles]

http://www.pensionrights.org/issues...visions-multiemployer-pension-reform-act-2014

Yes exactly. And here's the REAL list from the Department of Labor and I DO NOT see IAMPF listed for any notices in 2017.

https://www.dol.gov/agencies/ebsa/a...ies/public-disclosure/critical-status-notices

 

[WeAAsles]

And here's a list that yes does include an IAM plan but again it's not the IAMNPF.

Just because some IAM members have a plan out there somewhere doesn't mean it's part of their National plan.

Do your "Due Dilligence"

http://www.pensionrights.org/public...-declining-status-notices-us-department-labor

 

[WeAAsles]

C'Mon Man! Its time to get off the fence, everybody knows this discussion is not personal & you will not offend the IAM guys by doing the right thing and let the facts rule. Do you see companies return to insourcing policies instead of outsourcing more union jobs? If the plan was not in trouble its funding % should be increasing with the stock market record highs. Instead its funding dropped 7-8% in just the last 2 years!

Seriously, what is wrong with this picture? The company in this story wants its employees out of the
Teamsters plan because it believes it is failing, yet my union is trying to get its membership into a plan that is questionable at best!

BTW Chil it's funding level did increase from the prior year. It was its "future" Liabilities that skyrocketed. And those liabilities are flexible if people start to croak earlier than the funds trustees anticipated?

There's a curious question? What age do they have set as the anticipated death rate of the average IAMNPF participant?

I don't think it's something they want to share publicly on their pretty web site since it's a morbid question. (Click on the Black Tab link with the Grim Reaper picture)

 

[Jester]

I don't think it's something they want to share publicly on their pretty web site since it's a morbid question. (Click on the Black Tab link with the Grim Reaper picture)

Along with a "Little Friskies" tab suggesting ways to stretch retirees' pension dollars?

It should be noted that pension accounting would be one of the most suspect (but legal) part of financial public disclosures under FASB, as unofficially if the truth was exposed, it might cause panic within those companies' stocks who offered pensions. Probably not much different with multi-employer pension plans.

 

[WeAAsles]

Along with a "Little Friskies" tab suggesting ways to stretch retirees' pension dollars?

It should be noted that pension accounting would be one of the most suspect (but legal) part of financial public disclosures under FASB, as unofficially if the truth was exposed, it might cause panic within those companies' stocks who offered pensions. Probably not much different with multi-employer pension plans.

This could be an option? And I could learn the Ukulele and sing to children?

http://www.charlotteobserver.com/news/nation-world/world/article154209369.html#fmp

 

[1AA]

https://20somethingfinance.com/pens...-should-care-that-pensions-are-going-extinct/

Falling down like a row of dominoes.

https://www.google.com/amp/s/amp.cnn.com/money/2015/10/20/retirement/pension-fund-cuts/index.html

 

[1AA]

PBGC funds running low. Soon there may not be a security blanket for failed pensions. This might be why the IAMPF needs the AA guys money to steal to keep it going.

http://www.zerohedge.com/news/2017-...orporation-running-out-cash-millions-affected

 

[1AA]

http://money.usnews.com/money/blogs.../15/6-reasons-a-401k-is-better-than-a-pension

https://www.ifebp.org/news/featuredtopics/MPRA/Pages/news-and-analysis.aspx

http://www.iravs401kcentral.com/pension-vs-401k-what-are-the-differences/

 

[WeAAsles]

Robolink WAR!!! Mano a Mano. Weez vs 1AA.

Dee----versa-----tea.

http://www.marketwatch.com/amp/story/guid/42527178-1859-11E6-B54D-4E0B4D409B09

https://www.marketplace.org/2013/06...ther-modern-401k-says-it-fails-many-americans

http://www.npr.org/2017/01/03/508075236/retirement-account-pioneers-regret-what-they-started

And red x's to you too boy on a windshield. I'm turning on my wipers.

 

[WeAAsles]

 

[WeAAsles]

http://money.usnews.com/money/blogs.../15/6-reasons-a-401k-is-better-than-a-pension

https://www.ifebp.org/news/featuredtopics/MPRA/Pages/news-and-analysis.aspx

http://www.iravs401kcentral.com/pension-vs-401k-what-are-the-differences/

Uh oh there little buddy you're not being cautious there on your link postings. Tsk Tsk.

Your middle post. Third link down that says NEW. Did you read it? Tsk Tsk.

http://www.plansponsor.com/Multiemployer-Plans-Have-Hope-and-a-Future/?fullstory=true

 

[chilokie1]

America is insourcing more jobs back actually but they're also making more investments in automating as the money rolls in over having human hands do the work. So yea I'm concerned. No sugar coating it.

It's not about being on the fence on the issue or offending any IAM guys out there I've gotten to know. If that was the case I'd simply be ignoring any of the bad news about the fund and singing La Di Da Di Da.

But and it's a big but does any concern (reservations) we have about the IAMPF matter anyway? The MOU signed by Robert Gless (Bobby Gless) says the TWU "People in now" will "propose" to the Company our inclusion in the IAMPF. So as I read that agreement even if it were you or I in there we HAVE TO "propose" the membership gain access to the plan. And we HAVE TO support current plan participants stay in it. Do you read it any other way than I do Chil?

What I don't want is if/when it comes rolling around to see is the IAM side giving us the hard sell on it with color brochures, balloons, candy and party favors. I've never liked the hard sales pitches and find them intellectually insulting.

https://twu514.org/files/2013/05/TWU-IAM-Joint-Agreement-on-Pensions.pdf

The problem is private sector union numbers have dropped steadily over the last 30 years, nearly 50% in that time frame.

The Gless letter is a classic example of why union numbers are dropping, big industrial unions overstepping their bounds just makes the job of unionizing harder.