RIGHT - tell them they have to let the PBGC take over their pension ... under the same "formula" as ours .... before they can touch SS and Medicare. They would come up with another way of balancing the budget real fast.
Attention all US Airways Pilots With Capped Retirement From PBGC
- Thread starter usa1
- Start date
RIGHT - tell them they have to let the PBGC take over their pension ... under the same "formula" as ours .... before they can touch SS and Medicare. They would come up with another way of balancing the budget real fast.
The frustration and anger behind this conflict isn't hard to understand, no matter where you stand. Taxpayers hit by declining wages and PBGC caps on their pensions are being asked to accept higher taxes and fewer services, because of unfunded public employee pension demands. These bills are coming due at the same time workers in the private sector are facing retirement -- often without enough savings or a dependable pension plan of their own.
Current US Air/Piedmont employees have no real retirement plan .... and those of us who have been here long enough to have lost their original one to "cheep tickets" and the PBGC don't have enough time to play catch up. There is no way Washington should touch our SS and Medicare until the public sector falls into a PBGC style plan, one that mirror ours.
What they should do is take every single pension the government is obligated to, which includes the US Airways PBGC obligation, and find a fair formula and fund them EQUALLY. Place the lump sums into a 401K that we own.
Current US Air/Piedmont employees have no real retirement plan .... and those of us who have been here long enough to have lost their original one to "cheep tickets" and the PBGC don't have enough time to play catch up. There is no way Washington should touch our SS and Medicare until the public sector falls into a PBGC style plan, one that mirror ours.
What they should do is take every single pension the government is obligated to, which includes the US Airways PBGC obligation, and find a fair formula and fund them EQUALLY. Place the lump sums into a 401K that we own.
http://www.iam141.org/us/index.html
District 141 was informed on December 17, 2010 of planned changes to our Defined Benefit Retirement Plan by the Trustees of the IAM National Pension Fund. Although these future adjustments were determined by Trustee action at their meeting in October, we received the notice of change at the same time our members did. Due to the timing of the notice, it was not possible for us to communicate with you prior to your receiving your copy of the information.
The necessity of the announced reduction in future accrual of pension benefits is the reality of the economy we work in.
The changes determined by the Trustees apply to certain participants of the IAM National Pension Fund, but not all. For example, our US Airways membership will be affected by future reduced accrual rates for their monthly pension benefits but our United membership will not.
These announced changes by the National Pension Fund were not negotiated with nor agreed to by District 141.
Now your speaking for Jim? I have not seen 1 post that Jim has disrespected public employees like you have...Jim is one of the most repected members on this board and if he had a valid argument about how public sector caused you to loose your pension I would listen to him in a heart beat...But you sir, are a certified idiot.... And just to show what an idiot you are, when I retire in 9 years, at my current salary I would get a monthly check for 2100.00 plus I have to pay my medical.....
US Airways agents would die for a $2100.00 per month check ..... And just to show what an idiot you are, at 55 try a $550.00 dollar per month check. That's what the PGBC pays a 30 year agent. We were due a 2100.00 check before the PBGC took over. Well now the Government is broke. Are you better than us?
You are missing my point ..... the government is broke, just like we were, unless your public sector pension is reduced like ours .... tell your employer to stay away from my SS and Medicare.
Your pension as an agent was FROZEN in 1992, meaning it doesnt accrue anymore benefits, then it was terminated in 2005 and turned over to the PBGC, guess you dont understand that concept.
Your snapshot was taken in 1992, then the plan's value in 2005 was turned over to the PBGC, so anyone in that plan stopped earning credit for years of service in 1992.
Your snapshot was taken in 1992, then the plan's value in 2005 was turned over to the PBGC, so anyone in that plan stopped earning credit for years of service in 1992.
What is your freakin problem? Who ever said "we" were better than you....If there is any mud slinging it is you doing it...I still can't figure out for the life of me how my little state pension caused mismangement of your airline...I worked 17 years at the Buffalo Airport and all you guys walked around with your chests puffed out because you dominated BUF, same in PIT and BWI, you are now a pimple on their A$$...Your former and current management team has destroyed a good airline and you see no fault in that...My better half has spent 26 years slinging bags and not once have I ever heard it was my fault that US totally screwed everyone over, you won't find kool aid in our house, but I bet your fridge is stocked with it....
All true 700UW ... Now in 2011 it's time to freeze all public sector pensions. And in 2012 they should all be turn over to a PBGC format. BEFORE THE GOVERNMENT COMES BACK AND CHANGES OUR SS & MEDICARE. (You guys better read the Ryan plan, it calls for people between 44-54 to come up with another $200,000 out of pocket for healthcare. If you own anything you can kiss it goodbye the first time you get really sick.)
LD3 Your employer, the US treasury is broke.......... 14 trillion in the hole, soon to be 16 trillion. Do you think private sector employees at US Airways should give up their SS and Medicare before the Government gets its house in order.
Your post says it all, you have a hatred for US Airways employees .... And you think it's funny that we lost or pension and pay, while you public sector people are unaffected. 😀LD3 said:
This thread just needs to be closed.
You situation has nothing to do with public sector workers. If you dont like your career, then change it. You knew the terms when you went to work for EN, so the only person you have to blame is yourself.
Unaffected? Guess you havent read the news about WI, IN, OH and NY, have you? Are you an ostrich?
Did you raise cain when former POTUS Ronald Reagen changed the retirement age of Social Security from 65 to 67 for people born in 1960 and above?
Freezing their pensions will not solve the problem, you have to raise taxes and cut spending.
You situation has nothing to do with public sector workers. If you dont like your career, then change it. You knew the terms when you went to work for EN, so the only person you have to blame is yourself.
Unaffected? Guess you havent read the news about WI, IN, OH and NY, have you? Are you an ostrich?
Did you raise cain when former POTUS Ronald Reagen changed the retirement age of Social Security from 65 to 67 for people born in 1960 and above?
Freezing their pensions will not solve the problem, you have to raise taxes and cut spending.
Why because you don't agree with it :blink: .... Lets stop the spending by getting public sector pensions inline with US Airways ....
LD3 thank-you for helping me make my point. Did you see 700 out there with his chest puffed out? 😀
And by the way 700, the Ryan plan is Republican? Am I still far right wing? You're drinking to much union koolaide!
Post Office Loses $3.5 Billion in 3rd quarter as 2011 Cash Crunch Looms
http://www.dailyfinance.com/2010/08/05/post-office-loses-3-5-billion-as-2011-cash-crunch-looms/
Will we have to pick up the tab for this also? ... And they want to cut US Airways employees SS and Medicare? Ive already given at the office ... no thanks! 😉
http://www.dailyfinance.com/2010/08/05/post-office-loses-3-5-billion-as-2011-cash-crunch-looms/
Will we have to pick up the tab for this also? ... And they want to cut US Airways employees SS and Medicare? Ive already given at the office ... no thanks! 😉
signals
Veteran
Still spinning it your way, huh? Again SSI and Medicare is already being cut for everybody because you refuse to die! You asked the gov to take care of it and they did, in a way that will cost all of us and not them. I talked to an agent with 30+ years at US and told me that US cut her pension in the early 90s-long before I started in public service. She is under 50 and therefore totally screwed-yeah, it's my fault 😛
You act like you're the only one who pays taxes and I sympathise with your burden. I know that you will have something to say about anything that doesn't go your way, so I'm allowing you to wallow in your own vomit 😛
Maybe you should do what this public employee is doing so you can retire less bitter than you'll be because, in reality, your not going to change anything and die a bitter soul 😛
I'm obviously not relying on only my retirement or SSI, otherwise I'll retire at the golden arches. I have other retirement plans and have lost money but did not count my losses and run. In time I'm looking pretty good. I also invest in mutual funds and some stocks, and although I won't get rich, I'll at least adjust to our changing world! 😛
Instead of looking for a target to blame for your misfortunes and wasting an enormous amount of energy, put that energy into fixing your future finances. Unlike you, I've had to learn hard lessons about money, long before my public sector employment, and wasn't employed by US during their Holiday In The Sky days gone by 😛
While you were reaping the rewards I was probably unemployed-especially during the King Reagan years! So keep wah wah wahing it and eating the vomit you spew. I never relied on my employer or government for hand outs and learned it from my father an immigrant who had to skimp and save to feed his family.
Your problem is that the silver spoon has become a bit tarnished, and the honey is bitter. Tough cookie 😛
You obviously take everything for granted and don't know what you have until it's gone. You only care about yourself and don't really give a crap about anyone else's retirement but need a mob to feed you 😛
Good luck with your life and when your done feeding on vomit, join the real world 😛
P.S Must be nice to give yourself a + 🙄
