and the iam pension is holding up talks here. Company even offered all of us an additional 40%, up from 5.5% but sito said no cuz it goes in our 401k which we would control.
If indeed the case likely not the first or only instance. From 2006 at NW with DL 143 according to Kev:
UT--
Of all the items the company was asking for in each of the proposed concessionary agreements, the *one* thing everyone-junior, senior, 'tween- I spoke with were amenable to was the 401k match. NW would have frozen the pension anyway, so the choice was either the match, or the IAMNP plan. NO ONE wanted the IAM plan, yet it was the one thing the IAM fought hardest for. Not scope, not wages, their plan...
And just how much will retiring folks get from the IAM plan? No one can tell you! The officers in DL143 have no idea how much the multiplier will be..... :angry:
Josh