Tim Nelson
Veteran
The iam pension is unsustainable but members arent being educated by the leaders. All that mr baskett says is that its in the green zone. The motor city iam pension is in the green zone as well after suspending and cutting pensions. Google it.This is what P. Rez seems to cling to:
Some things never change, apparently. This is from Kev at NWA in 2006, no one at NW wanted the loser IAMNPF.
Josh
Green zone means NOTHING. What is significant is what is keeping it green?
The $2 billion it shedded in 2014 boosted it from underfunded up to 108%. So was the plan healthy since it was overfunded? Of course not because it was artificially supported by eliminating $2 billion of our benefits. The plan is currently at an underfunding burn of $500 million a year. So over 4 years, its gone from overfunding to over $1 billion underfunded and will have to rob more of our benefits.
Im not making a political statement because i wont be able to fix it either from its inherent problems of years of bad investing, interest rates that had assumed rates that were too high, etc.
The problem for lus isnt that Sito is standing up for health care but the problem is that he has the iam $$ pension interest ahead of his members. He helped bring down NWA with it and could bring us down with it.