nycbusdriver said:
East pilots get the PBGC guarantee.
West pilots....not so much.
Why? The east pilots actually had a Defined Benefit plan to lose. The westicles, with their perennial gutter contracts and permanent "also ran" airline, never had the balls to actually negotiate a Defined Benefit plan.
So, the East gets the insurance guarantee, the west gets the gutter....again....or, still.
East pilots get the PBGC guarantee? If they are guaranteed their guarantee then why is it still in court?
Fellow Philadelphia Pilots,
Now that the JCBA vote is behind us, we need to turn our attention to the USAPA election and who will lead the Philadelphia pilots. Contrary to what you may believe, there is a great deal of business that must be completed before the sunset of the organization.
The most important issue that the new officers and BPR members will deal with is the Seniority List Integration. Even as litigation continues, the Merger Committee continues to prepare for arbitration. Their job is complex and time-consuming and I want to support them in any way possible to ensure the best outcome for all of our pilots, senior or junior.
We also need to remember why the organization was founded in the first place in order to understand the significant work that must be completed. As we have discovered, our previous collective bargaining agent (which was a member of the pension committee) was complicit in the decline and termination of the pension. In 2004, I wrote and both the local council and MEC passed a resolution to investigate the pension collapse, but those efforts were stymied by ALPA National. The termination of the pension is a travesty that impacts our pilots, and we should note that this coming April 1, 2015 is the starting date for PC4 retirements at age 65. Our lawsuit is now at the appeals court level to have the PBGC replaced as the trustee of the pension. Oral arguments are scheduled for after the new members of the BPR are seated.
The effort to overturn the egregious ruling on the three percent grievance continues, and that case is scheduled to be heard before an appeals court panel in the near future..
If the guarantee is guaranteed then why does Ted Reed have an article titled..
US Airways Pilots Still Fight for Pension Payouts, 11 Years After Bankruptcy Case
By Ted Reed - 05/12/14 - 6:45 AM EDT
Tickers in this article: AAL UAL
CHARLOTTE, N.C. (TheStreet) -- In March 2003, as it was emerging from the first post-Sept. 11 airline bankruptcy, US Airways terminated its pilot pension plan, depriving thousands of pilots of comfortable retirements they had come to expect.
Eleven years later, the court battles are still being fought after two groups of pilots sued the government-backed Pension Benefit Guaranty Corp., which took over the plan.
Some guarantee, I'd ask for a refund. Good luck
