Equity Update

[Buck]

Can't we just rid of the IRS?

 

[The Truth Will Set U Free]

You are being Lied to. Wake the HELL UP

 

[Tim Nelson]

I think Gary Peterson should just stop with the videos or at least not do one on the equity because everything he has said has turned into the exact opposite.
Sad.
At any rate, I'm uncomfortable with the jam the TWU got themselves into. The company will be more than willing to help the TWU get out of that jam and avoid lawsuits to bury the union, but it will want the TWU to cough up more blood in our JCBA.

Weez, you need to stop being their Pollyanna, you are killing us bro and causing your own members to lose their money.

 

[WeAAsles]

I think Gary Peterson should just stop with the videos or at least not do one on the equity because everything he has said has turned into the exact opposite.
Sad.
At any rate, I'm uncomfortable with the jam the TWU got themselves into. The company will be more than willing to help the TWU get out of that jam and avoid lawsuits to bury the union, but it will want the TWU to cough up more blood in our JCBA.

Weez, you need to stop being their Pollyanna, you are killing us bro and causing your own members to lose their money.

And you need to get your ass back over to the other thread and answer Irish question of “”””””WHO””””””” are your running mates instead of engaging in the attention seeking:

“Weez, Weez, Weez, Weez”

I have no vote for you to seek Tim. I’m not in your IAM.

I guess you waste time poking at me because you know full well your team is going to get embarrassing CRUSHED in that election. Oh well I guess.

 

[Deleted member 14439]

From local 567

EQUITY UDATE,
This information was discussed on todays conference call,
AA has agreed to help with the equity distribution. They have also agreed to pay the employer's portion of the FICA tax. There are still some hurdles to overcome with capital gains issues however we anticipate the distribution to be accomplished by June of 2018. We have confirmed these funds will not be 401K eligible.

 

[AANOTOK]

From local 567

EQUITY UDATE,
This information was discussed on todays conference call,
AA has agreed to help with the equity distribution. They have also agreed to pay the employer's portion of the FICA tax. There are still some hurdles to overcome with capital gains issues however we anticipate the distribution to be accomplished by June of 2018. We have confirmed these funds will not be 401K eligible.

Thanks!

 

[Talos]

I guess the capital gains issue was complicated when the union sold the stock. I think the bankruptcy judge told them to sell it to protect the money of the sale for the members. I wonder if the IRS wants to tax the gain from the sale to the union and then tax us after we get our share. Seems like the sale of the stock might not have been a good idea. Probably meant well at any rate.

 

[NYer]

I guess the capital gains issue was complicated when the union sold the stock. I think the bankruptcy judge told them to sell it to protect the money of the sale for the members. I wonder if the IRS wants to tax the gain from the sale to the union and then tax us after we get our share. Seems like the sale of the stock might not have been a good idea. Probably meant well at any rate.

Correct

 

[swamt]

From local 567

EQUITY UDATE,
This information was discussed on todays conference call,
AA has agreed to help with the equity distribution. They have also agreed to pay the employer's portion of the FICA tax. There are still some hurdles to overcome with capital gains issues however we anticipate the distribution to be accomplished by June of 2018. We have confirmed these funds will not be 401K eligible.

What about all the interest that you guys have missed out on this entire time that the money was not in your own accounts making the interest they would have made if you had the money from day one???
Who will replace that for you?? Company or union for all the delays?

 

[Koolcat]

What about all the interest that you guys have missed out on this entire time that the money was not in your own accounts making the interest they would have made if you had the money from day one???
Who will replace that for you?? Company or union for all the delays?

Have you not been paying attention all this time! Around 32 million was placed in a trust because of the lawsuit and during the whole process of the lawsuit it has balloon to around 90 million! So what little bank interest are you talking about???

 

[Deleted member 14439]

What about all the interest that you guys have missed out on this entire time that the money was not in your own accounts making the interest they would have made if you had the money from day one???
Who will replace that for you?? Company or union for all the delays?

As much as I have issue with the TWU, the interest will be included. One reason (excuse) for the delay is the capital gain. The fund made money. No doubt the international will see a cut for "admin fees" but we will eventually see our money. The funny thing is, at the end of the day, its not all that much going to each individual member. I expect no more than $1k-$1.5k. That`s just my opinion.

 

[WeAAsles]

January 20, 2018

Brothers and Sisters:

As a follow up to yesterday’s conference call with TWU Presidents, below is a summary of the plan that has now been agreed upon between TWU and American Airlines, with respect to the TWU Reserve/Equity fund distribution.

- The earliest the distribution will be is late May/early June, assuming all goes well with Project Spring. In the event of any impact to the distribution as a result of Project Spring, the Company will advise TWU of a future date

- Computershare will distribute funds in the form of a check and mail to each eligible employee

- TWU to provide the company with the employee list and the amount or percentage of distribution for each eligible employee

- TWU will be responsible for Computershare fees and costs associated with the distribution(s)

- Computershare will withhold applicable taxes and send file to American for tax remittance to the IRS and W2 preparation

- TWU will be responsible for capital gain taxes, if any, for/from the TWU Reserve Equity Fund

“Project Spring” is a merger of the legacy AA and US human resources computer systems.

Having now brought closure to the process of distribution, TWU can now work to finalize the plan of transferring the trust assets into the funds necessary to determine each member’s share of the equity.

As a word of caution with regard to capital gains, TWU still does not have the answer on if we will or will not have to pay capital gains and that answer may not be known in advance of the distribution. If TWU does not have the answer on capital gains in advance of the first opportunity for distribution, TWU will be forced to hold the

estimated capital gains tax portion of the funds, until such times the IRS rules on the union’s application for capital gains tax relief.

I will continue to provide updates to the American Airlines TWU Presidents, and the membership, as more details become available.

Fraternally,

Gary Peterson

TWU International Vice President

 

[swamt]

As much as I have issue with the TWU, the interest will be included. One reason (excuse) for the delay is the capital gain. The fund made money. No doubt the international will see a cut for "admin fees" but we will eventually see our money. The funny thing is, at the end of the day, its not all that much going to each individual member. I expect no more than $1k-$1.5k. That`s just my opinion.

Good, as it should be. I know it won't be much after distribution but even if it's $1 it's the members money in the end. Glad to hear it is finally getting to the proper hands it belongs in.

 

[La Li Lu Le Lo]

So hypothetically this issue has been the main point since October. And I realize anything government is never in a rush, but what would be an acceptable time frame for a definitive answer. I'll beat this dead horse again, this should have started in July. Asking these tax questions, preparing a plan A and plan B. It's crying over spilled milk but that doesn't make it any better

Except that turd Obamacare.

 

[Buck]

When it comes to the Equity Fund is there any documentation that denotes the account and where it is being held, what type of vehicle it was in and its return on the investment?