Harry Callahan
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When will the agc's be taking their pay cuts 🙄
IAM Fleet Service topic
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Dog Wonder
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Did you predict the failure of the economy?
baggage engineer
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Can someone Please explain what the H*LL is going on with the IAM pension. the breakroom in my station was in an uproar about
us losing half of our pension . HOW CAN THAT BE. I thought once you were vested you were locked in to that rate. My other concern is the old leadership we had never informed us of
anything until AFTER it happened, and now it seems to me that this leadership is doing the same thing. Funny they had no problem coming around talking to us back in May when they were running
for office. If its not the Company reaching in my pocket its the stupid union. I have 18 years with this crappy ass company and just when things are starting to look up now MY so called union
is taking away something that I thought was negotiated, whats the since in having a contract if the company and the union can change things anytime they want. First the company changes the
attendance policy and now the union is talking back money promised to us . Is this even legal.
us losing half of our pension . HOW CAN THAT BE. I thought once you were vested you were locked in to that rate. My other concern is the old leadership we had never informed us of
anything until AFTER it happened, and now it seems to me that this leadership is doing the same thing. Funny they had no problem coming around talking to us back in May when they were running
for office. If its not the Company reaching in my pocket its the stupid union. I have 18 years with this crappy ass company and just when things are starting to look up now MY so called union
is taking away something that I thought was negotiated, whats the since in having a contract if the company and the union can change things anytime they want. First the company changes the
attendance policy and now the union is talking back money promised to us . Is this even legal.
baggage engineer
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Next question does anyone know what I have to do to stop paying for dues because at this point I don't think I am being fairly represented.
to the poster that posted about the AGC's pay cut . that's a great Idea . one of my co-workers got terminated well over 2yrs ago and still hasnt
had his appeal heard and the guy in charge of my station never returns his calls so why continue to pay dues if you don't have any protection isn't that the purpose of having a union contract
to the poster that posted about the AGC's pay cut . that's a great Idea . one of my co-workers got terminated well over 2yrs ago and still hasnt
had his appeal heard and the guy in charge of my station never returns his calls so why continue to pay dues if you don't have any protection isn't that the purpose of having a union contract
Jester
Veteran
I cannot say I am surprised. The pension's details have been hidden for awhile and difficult to get straight answers, which usually tells me those in charge were hiding something. Difficult to call it is a "defined" pension when it is subject to change and the irony in listening to national union leaders, in general, bemoan the very mention of a defined contribution plan or a 401K type of retirement plans which do not provide a "certain" monthly payment to retirees.
We also tend to overlook the racket of these type of pensions insofar they having a vesting period requirement (usually 5 to 10 years), but what happens to those contributions for those employees who never become vested? What happens to the contributions of the employee who dies while vested, but has not yet retired? I think we all know that it falls into the Black Hole of the pension administrator never to be mentioned again.
At least with a 401K plan, those employees who leave early before becoming vested and those earned contributions have the portability upon separation from the firm. In addition, the heirs would obtain the retirement monies earned to date should the employee die regardless of the person's employment status. However, it is just so tempting in knowing about the "certainty" of monthly pension check without having to make an actual contribution as with a company matching 401K.
Honestly, if the IAM leadership cannot be more forthcoming with its handling of our pension and a better explanation as to how "define benefit" is not all so "defined", then we need to push for a 401K type of plan giving greater transparance with the next contract.
So Proposes Jester.
We also tend to overlook the racket of these type of pensions insofar they having a vesting period requirement (usually 5 to 10 years), but what happens to those contributions for those employees who never become vested? What happens to the contributions of the employee who dies while vested, but has not yet retired? I think we all know that it falls into the Black Hole of the pension administrator never to be mentioned again.
At least with a 401K plan, those employees who leave early before becoming vested and those earned contributions have the portability upon separation from the firm. In addition, the heirs would obtain the retirement monies earned to date should the employee die regardless of the person's employment status. However, it is just so tempting in knowing about the "certainty" of monthly pension check without having to make an actual contribution as with a company matching 401K.
Honestly, if the IAM leadership cannot be more forthcoming with its handling of our pension and a better explanation as to how "define benefit" is not all so "defined", then we need to push for a 401K type of plan giving greater transparance with the next contract.
So Proposes Jester.
Sounds of crickets.
What is a “custom benefit schedule”
And who is entitle to it and WHY?
https://www.iamnpf.o...pantsNotice.pdf
https://www.iamnpf.o...pantsNotice.pdf
http://www.goiam.org/index.php/territories/transportation/2007-archives/2068-machinists-address-pensions--airline-management-at-senate-merger-hearing
Proposed mergers must be scrutinized to ensure that employees’ hard earned pensions are preserved,” said Roach. “At a time when airline-sponsored pension plans have either been terminated or underfunded, preserving existing pension plans, and extending benefits to employees without pensions, is a priority for the IAM.”
"The IAM has been successful in negotiating replacement defined benefit pensions for members whose company-sponsored plans were destroyed, but many other airline workers have no guaranteed pensions. Machinists at US Airways, United Airlines, Aloha Airlines, British Airways, and Air Micronesia still have a defined benefit pension plan with the multi-employer IAM National Pension Plan. IAM members at Northwest Airlines will participate in the same pension plan when that carrier emerges from bankruptcy and IAM-represented Continental Airlines Flight Attendants are currently voting to join the secure IAM National Pension Plan."
And who is entitle to it and WHY?
https://www.iamnpf.o...pantsNotice.pdf
https://www.iamnpf.o...pantsNotice.pdf
http://www.goiam.org/index.php/territories/transportation/2007-archives/2068-machinists-address-pensions--airline-management-at-senate-merger-hearing
Proposed mergers must be scrutinized to ensure that employees’ hard earned pensions are preserved,” said Roach. “At a time when airline-sponsored pension plans have either been terminated or underfunded, preserving existing pension plans, and extending benefits to employees without pensions, is a priority for the IAM.”
"The IAM has been successful in negotiating replacement defined benefit pensions for members whose company-sponsored plans were destroyed, but many other airline workers have no guaranteed pensions. Machinists at US Airways, United Airlines, Aloha Airlines, British Airways, and Air Micronesia still have a defined benefit pension plan with the multi-employer IAM National Pension Plan. IAM members at Northwest Airlines will participate in the same pension plan when that carrier emerges from bankruptcy and IAM-represented Continental Airlines Flight Attendants are currently voting to join the secure IAM National Pension Plan."
The company match 401K funds are improving some
How about a little insight into this mess?
Can USAirways fleet service get the same treatment as UAL
Has the USAirways IAM mechanics and related change?
If so can fleet receive the same treatment?
Or do they have a special accrual rate designed specifically for them
https://www.iamnpf.org/npf/pages/main_page/notice_schedule_change.jhtml
https://www.iamnpf.org/npf/pages/main_page/forms/Annual_Funding_Notice_2009.pdf
A pension plan is required to file with the US Department
of Labor an annual report (i.e., Form 5500) containing
financial and other information about the plan. Copies of
the annual report are available from the US Department
of Lab or, Employee Benef i t s Security Administration’s
Publ i c Di scl osur e Room at 200 Const i t ut i on Avenue,
NW, Room N-1513, Washington, DC 20210, or by calling
202. 693. 8673. Or you may obtai n a copy of the plan’s
a n n u a l r e p o r t b y ma k i n g a wr i t t e n r e q u e s t t o t h e
p l a n a d mi n i s t r a t o r.
JFK Fleet Service
Veteran
The former TWA members I work with at AA rave about the IAM pension, all $200.00 a month of it...
charlie Brown
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John John
I answered your question on the other heading about the pension. Check it and maybe it will explain it for you. If not I can post it on here. As for AGC taking pay cuts. While Im not going to defend what they make, but my question to people out there would be. How much are you going to offer someone to be away from their homes and family 2 weeks out of every month ( if they are doing their job correctly ) and expect to get anyone to take it. Im going to make mid 50's this year being at home every night with my family and working some O.T. No way would i do their job unless you paid me to be away like they are. Also, whatever you pay the AGC's, would not affect whats happening to our pension one bit. I know it sounds like Im defending them, but really, Im just trying to educate people on how your pension is really affected.
charlie Brown
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Also, people need to understand, that what we currently have in our pension is not affected. This only applies to future contributions after the year 2014, or until we sign another contract. So we need to wake up, because as far as Im concerned, we just became a lot pickier in our next contract negotiations. If we are going to take a hit in our pension as soon as we vote it in. Then it better be a pretty sweet deal to get my vote.
Harry Callahan
Veteran
Charlie, thanks for explaining & yes we've got to be picky.
roabilly
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Very true...
Blaming the AGC's for everything that occurs is unwarranted. I have to agree with you on the trading of places scenario. For me to do their job... it would have to pay pretty damn well!
Even at the AGC level, you are still restricted by arbitration schedules... mediation schedules... and whole host of other red tape that is thrown in your way as an impediment to progress.
And no Jester... I'm not an AGC!
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