Shame on iam prez and the iam pension bosses
- Thread starter Tim Nelson
- Start date
OP
- Thread Starter
- #47
That $938 has a very good chance to become $450.dvlhog212 said:
However, if twu members approve a new ta that brings 10,000 more members into our plan then i will say thank you as that could buy us another year or two.
Real tired
Veteran
jd630000 said:
I have no idea what you are talking about. But what I do know is you are wrong. You must be "confused" and talking about your PBGC pension. You know, the single employer plan the company so graciously terminated.
For the AA people, concerning the IAMNPF, we are all the same. In other words, each Mechanic, each Stock Clerk and each of the remaining 50 Utility people all get the same amount on our IAMNPF payout. As long as we worked the required number of hours each year. Otherwise your payout would be less.
For a Mechanic to retire on 12-31-2015 his or her payout would be: $625.89 That equates to a $85.46 multiplier. ($2.00 per hour)
A Stock clerk would be: $461.84. And a $64.09 multiplier. ($1.45 per hour)
A Utility person still employed after 2008 would be: $360.28. And a $48.43 multiplier. ($1.05 per hour)
Real tired
Veteran
What are you talking about, man? Where are you getting these numbers?jd630000 said:
The IAM pension started in 2008. You're 5 years off. You need to seriously get some financial help if you are nearing retirement.
And this so typifies the USAirways IAM member. Totally out of the know.
The union underhandedly wrote the IAM pension into a contract with a very, very tiny increase in base wages after years of pay cuts, and it passed. And then they don't say another word, and nobody knows.
Is it the PBGC pension, the IAM pension? ..... "I don't know."
How do I apply? How much is it? When can I apply? Who do I call? ......... "I don't know."
The lack of information and interaction from the IAM is amazing. You AA people better get used to it. It's only going to get worse with the Association, as you can now see. You'll only know about something after it hits you in the face or it comes out on a backdoor "Letter of Agreement" between the company and union.
I should do my own damn video about the IAM. It would be about stuffing a paper ballots into a 2380 oil drum, and how the retirees get to vote on my contract. You'd get a real laugh.
OP
the PBGC is for my pension that got frozen in 1991.....it is totally separate from the IAM pension..that, for me ,began in 2003...its not that difficult..for some,..it all online to see....
I think that frozen plan in the PBGC has a "social security offset" so you won't be getting all of that either. I'm not really sure what the SS offset is or how much, but I think we can all be in for a not so welcome suprisejd630000 said:
Date of Action: July 19, 2016
Type of Action: Consent judgment and order
Names of Defendants: “National Pension Plan,” also known as the International Association of Machinists’ National Pension Fund
Gary Allen, Thomas Connery, Philip Gruber, Warren Mart, Robert Martinez Jr.
Alfred Nelson, Robert Roach, Burton Trebour and Lynn Tucker
Allegations: An investigation by the U.S. Labor Department's Employee Benefits Security Administration found that the National Pension Fund defendants violated the Employee Retirement Income Security Act and breached their fiduciary duties by:
The above defendants violated the "Employee Retirement Income Security Act". Why are they still employed by the iam?
Type of Action: Consent judgment and order
Names of Defendants: “National Pension Plan,” also known as the International Association of Machinists’ National Pension Fund
Gary Allen, Thomas Connery, Philip Gruber, Warren Mart, Robert Martinez Jr.
Alfred Nelson, Robert Roach, Burton Trebour and Lynn Tucker
Allegations: An investigation by the U.S. Labor Department's Employee Benefits Security Administration found that the National Pension Fund defendants violated the Employee Retirement Income Security Act and breached their fiduciary duties by:
- Failing to select fund service providers loyally and prudently, including consultants and fund investment managers.
- Ignoring required procedures included in the fund’s governing plan documents regularly.
- Creating conflicts of interest for the fund.
- Unlawfully soliciting and accepting gratuities from plan service providers.
- Spending and permitting others to spend fund assets lavishly on unnecessary trips, parties and extravagant food, wine and accommodations.
The above defendants violated the "Employee Retirement Income Security Act". Why are they still employed by the iam?
Glenn Quagmire
Veteran
- Apr 30, 2012
- 4,825
- 4,428
Bingo.JFK Fleet Service said:
The message sent to the co. was plain and simple. "Co. come join in with us and we as a 3 party group will stop a run-off election and we will be able remain the collective barganing agent for the members into the future." And they did.Kev3188 said:
I know you already know, but, even if he takes it now it's gonna get hit later to be reduced by 50% and will include the folks already retired again. That's a no-brainer...1AA said:
And now there is proof how the IAM spends the dues, illegally I might add. They are just as corrupted as the teamsters and their spendings around their pension funds. NEVER get into ANY pension fund that is ran, controled or has anything to do with the union having any kind of control of it, PERIOD! Run Forrest, run...Ramp Rogue said:
OP
OP
- Thread Starter
- #59
In this case, admitted guilt over the expenditure of our pension money as opposed to the dues. But they blow the dues also. Having a 3rd party represent our union is mind boggling to me. The pilots and stews don't contract out their union's representation to these 3rd party labor organizations like the TWU and IAM.swamt said:
Similar threads
