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The Company is obligated to contribute at the agreed rate and does not guarantee that agreed rate will provide the current benefit.
Defined Benefit Pension
S-CO – Maintain CARP
S-UA – Maintain 6.5% contribution rate to IAM National Pension Plan
Defined Contribution 401k Plan
Matching 401k for ALL members, up to 3% of compensation
Apparently you dont know how to read your own CBA:
And you certainly dont know how to read a highlight sheet, per the sheet:
You really need to learn how to read and comprehend.
http://www.iam141.org/docs/preview.pdf
EXTRA EXTRA READ ALL ABOUT IT .........
IAM SETTLES ON A NEW CONTRACT WITH UNITED AIRLINES .........
IAMNPF NOT INLCUDED IN THE CONTRACT ......... UNITED WORKERS WILL GET A 401K ......
in other news ....... US Airways employees will continue to be required to pay 160 a month to a pension fund that has ALREADY broken their promise to them on retirement payout .......
will the IAM give it's US Airways workers a way-out of their IAMNPF fully funded pension fund , I mean considering that it's funded to 105% there's little reason to REQURIE that pension funds go to the IAMNPF when the workers should be given a choice .......
all this and more in as the UNIONS battle ... stay tuned !
EDIT: turns out I was reading the old contential CBA ... new agreement with united HAS a 3 % 401k match AND sadly for them they are also chained to the IAMNPF .... no choice is given to our brothers and sisters at united in this ....... no choice for you !
well tell me , how does them being FORCED to contribute to the IAMNPF help them ? i'd love to hear you explain that away ?
it looks to me like once you accept the IAM , you also are FORCED to accept the IAMNPF ........ it's like they shackle you too it ....
Typical...all you ever do is ASK after reading what you want into things...if you cant comprehend ask your AGC in person........You Trust him as you say?
You are truly clueless.
In 1992 all the non-union employees, including ramp and csa's had their pension frozen, then in 2005, it was terminated along with the mechanic and related and flight attendant pensions. The pilots had their pension terminated in 2003, some of the pilots lost over a million dollars.
The IAM was the only union on the property to get a defined benefit plan where you didnt have to use your own money to fund your retirement.
You voted for the TA which contained the language for the IAMPF, the company agreed to it and it clearly stated the benefit levels wasnt guaranteed.
Can you not comprehend what you read?
You voted for it, you only have yourself to blame.
You wouldnt know a fight if it punched you in the face.
You sold out your brothers and sisters.