American Airlines and Labor Negotiations

[Racer X]

i've seen the $39 million per year figure...the cost for aa to put all assoc. members on lus insurance?

how much money would aa be adding into their pockets through synthetic income of upping lus members' insurance premiums?

that's not organic income...income generated from the business degrees and subsequent business acumen and genius of parker or isom or johnsen. aa stays the same and lus pay more?

money going to the shareholders? money going up the ladder, not down?

I hear the total figure for all 30,000 assoc members to get Lus medical is 39 million a year
The cost the company saves by LUS going to LAA medical is 15 million a year.
So the cost for LAA to get LUS medical is 24 million a year.
I think this is what you were asking.

 

[Tim Nelson]

I hear the total figure for all 30,000 assoc members to get Lus medical is 39 million a year
The cost the company saves by LUS going to LAA medical is 15 million a year.
So the cost for LAA to get LUS medical is 24 million a year.
I think this is what you were asking.

not sure what the problem is. Didnt parkers stock cash in get him $70 million?
$25 million for 13,000 employees ought to be chump change.

 

[Racer X]

not sure what the problem is. Didnt parkers stock cash in get him $70 million?
$25 million for 13,000 employees ought to be chump change.

I don’t know what the issue is either except for the company’s statement of knowing that all other groups will want the LUS medical. (but that shouldn’t be our problem) The 24 million is actually for approx 19,000 LAA employees.
The other 15 million is for 10,000 LUS.
It is crazy that the company has taken such a stance for that amount of money.

 

[WeAAsles]

I hear the total figure for all 30,000 assoc members to get Lus medical is 39 million a year
The cost the company saves by LUS going to LAA medical is 15 million a year.
So the cost for LAA to get LUS medical is 24 million a year.
I think this is what you were asking.

Racer are those figures also including PT Members into the same cost expenditures as FT Members?

 

[Racer X]

Racer are those figures also including PT Members into the same cost expenditures as FT Members?

I believe so. The company stated those figures to the NC.

 

[LuxuryLiner]

I hear the total figure for all 30,000 assoc members to get Lus medical is 39 million a year
The cost the company saves by LUS going to LAA medical is 15 million a year.
So the cost for LAA to get LUS medical is 24 million a year.
I think this is what you were asking.

I'm LAA and pay about $85 a pay period for insurance...single. How much of a difference would it be for me having LUS insurance? I can't see it being that much cheaper.

 

[Tim Nelson]

I'm LAA and pay about $85 a pay period for insurance...single. How much of a difference would it be for me having LUS insurance? I can't see it being that much cheaper.

i think single 80% is $28 a month or $14 per pay. Myself and children are $58 a month 80/20.

 

[P. REZ]

the only number that matters is $0 because the pension is now underfunded by $1 billion after pissing thru our $1.5 billion benefit cut. And it will have to get another $1.5 billion and take whatever is left from my benefits. Then file with the us treasury like these asses did with another iam pension 6 months ago to suspend all benefits so that plan can be green. Those poor iam members only got the bare minimum guarantee $35 multiplier +10% of $39 a month.

Tim,

Are you saying $39 multiplier? If so, $39 times how many years?

P. Rez

 

[P. REZ]

I'm LAA and pay about $85 a pay period for insurance...single. How much of a difference would it be for me having LUS insurance? I can't see it being that much cheaper.

Go to my.aa.com and in top right corner hit menu, then click on Benefits information and half way down click on Medical. You can look at LUS and LAA plans.

P. Rez

 

[WeAAsles]

Tim,

Are you saying $39 multiplier? If so, $39 times how many years?

P. Rez

This doesn’t quite sound like the same scenario as your IAMNPF.

“In the latest Form 5500 report filed with the application, the pension fund lists assets of $51.4 million and liabilities of $103.4 million, for a funded percentage of 50%, as of June 30, 2016. Among the 1,313 participants at the beginning of the plan year, only 221 were active.

The pension fund's application, filed March 29, called for reducing benefits to 110% of the multiemployer benefit guarantee of the Pension Benefit Guaranty Corp., the maximum cut allowed under the MPRA. Substantially lower than the single-employer guarantee, the current PBGC multiemployer guarantee maximum, in place since 2001, is $15,015 per year for a worker with 35 years of service, and $8,580 for 20 years of service.

Older or disabled participants would not see any cuts.”

http://www.pionline.com/article/201...pension-fund-approved-for-benefit-suspensions

https://www.treasury.gov/services/Documents/IAM_final_approval_letter.pdf

 

[WeAAsles]

So if I read that correctly? Out of 1313 participants only 221 are still active. I’m guessing that means 221 are still working and were participating in the Motor City Pension Plan?

“Older or disabled participants would not see any cuts”?

Sounds to me as if maybe over 1000 of the 1300 may fall into that Older or disabled category?

And I’m not making a judgement for or against the IAMNPF. Merely filling in some of the blanks of the story.

 

[WeAAsles]

Hey no wonder a lot of people didn’t respond to the vote to have their benefits cut.

Looks like 111 of those poor souls are already dead?



https://www.treasury.gov/services/P...on-of-Machinists-Motor-City-Pension-Fund.aspx

 

[Racer X]

I'm LAA and pay about $85 a pay period for insurance...single. How much of a difference would it be for me having LUS insurance? I can't see it being that much cheaper.

It is approx $32.00 month for 80% plan. Which is approx $375.00 a YEAR. If you pay $85.00 a pay that’s $170.00 month. In two months you pay what LUS would be for the ENTIRE YEAR.

 

[WeAAsles]

Tim,

Are you saying $39 multiplier? If so, $39 times how many years?

P. Rez

Ok yea I know I’m rambling a little here but oh No No No this is nothing like your IAMNPF. This thing was an absolute mess that went through all sorts of patches trying to keep it sailing.

This thing was barely on life support by the time they unfortunately had to pull the plug.

It started in 1955 which was the Golden era for Detroit. We all know what Detroit looks like today.

http://nccmp.org/wp-content/uploads/2018/04/MPRA-Plan-Perspective-Paul-Bullock.pdf

 

[P. REZ]

This doesn’t quite sound like the same scenario as your IAMNPF.

“In the latest Form 5500 report filed with the application, the pension fund lists assets of $51.4 million and liabilities of $103.4 million, for a funded percentage of 50%, as of June 30, 2016. Among the 1,313 participants at the beginning of the plan year, only 221 were active.

The pension fund's application, filed March 29, called for reducing benefits to 110% of the multiemployer benefit guarantee of the Pension Benefit Guaranty Corp., the maximum cut allowed under the MPRA. Substantially lower than the single-employer guarantee, the current PBGC multiemployer guarantee maximum, in place since 2001, is $15,015 per year for a worker with 35 years of service, and $8,580 for 20 years of service.

Older or disabled participants would not see any cuts.”

http://www.pionline.com/article/201...pension-fund-approved-for-benefit-suspensions

https://www.treasury.gov/services/Documents/IAM_final_approval_letter.pdf

I knew you would probably put info up. C'mon Tim, why do you post inaccurate stuff?

P. Rez