IAM PENSION FUND

[Buck]

Does someone have a clean copy of the IAM Pension Fund 2020 "Red Zone" Letter?
It was recently released.

 

[Rogallo]

Does someone have a clean copy of the IAM Pension Fund 2020 "Red Zone" Letter?
It was recently released.

Not sure if this is what you're looking for

https://www.iamnpf.org/sites/iamnpf.org/files/2020 Notice of Critical Status.pdf

 

[Buck]

Yes and thank you.

 

[swamt]

Not sure if this is what you're looking for

https://www.iamnpf.org/sites/iamnpf.org/files/2020 Notice of Critical Status.pdf

2 years in Critical Status and wont get out of it in 2020. Just more reasons not to be in the iampf. Control your own retirement accounts and get 401K's. I smell yet another decrease coming for the pension fund and some just passed the opportunity to get fully out of it, and once again it immediately goes into critical status for the 2nd year and won't come out by end of 2020. So per the description of why it went in 2020 because it was in CS in 2019, I see 2021 getting worse as the airlines will not yet be back to pre-COVID-19 levels. They should have dumped the pension when they had the chance.

 

[1AA]

The failed pension plan was one major reason dragging negotiations so long and it represents the smallest group in the association.
What a corrupt association we have.

 

[Kev3188]

All the info is there for any Plan Participant to access. It literally only takes a few minutes. It’s really frustrating that more people don’t take more of an interest in their financial future. I don’t get it.

 

[dfw gen]

All the info is there for any Plan Participant to access. It literally only takes a few minutes. It’s really frustrating that more people don’t take more of an interest in their financial future. I don’t get it.

It is truly amazing, i tell the young guys they need to be involved in their 401k. The credit union offers a free service on investing. Most of them look at me like im crazy. I keep telling the wife cone October its going to get crazy. Im looking at numbers and trying to figure out how to do it. Its close

 

[Talos]

The failed pension plan was one major reason dragging negotiations so long and it represents the smallest group in the association.
What a corrupt association we have.

You can kind of understand the IAM wanting to keep the pension as it's a black eye if it tanked and went to the PBGC. Multi-employer pensions are just in really bad shape. Personally I'd have wanted out of it if in the IAM. Senior guys probably would want to keep it, but the younger people will lose on that deal. I bet you are right 1AA that this was one of the reasons it took forever to get a deal. Flagrant disregard for what's best for the membership.

 

[dfw gen]

May 10th no contribution/match to the 401k

 

[1AA]

May 10th no contribution/match to the 401k

I noticed. This is the second paycheck in a row it shows blank.
I'm sure the dysfunctional association will explain.

 

[SkydrolJunkie]

 

[CremaDiLimone]

this was an issue a few weeks ago. i asked and was told that the employee contribution, company auto match (5%), and contribution match (up to 4%) are all displayed on fidelity's website not our check stubs.

i couldn't find it nor could a few others. i'm taking the leaap of faith that there will be a few hundred thousand more in my account in 10 years. please, oh please, oh please.

 

[title 2]

May 10th no contribution/match to the 401k

we got the match on 4/17 we did not get the match on 5/1 and 5/15 this will be paid on 6/11

 

[dfw gen]

we got the match on 4/17 we did not get the match on 5/1 and 5/15 this will be paid on 6/11

Im going to have to research that. I thought we were owed for the last check in april

 

[1AA]

Im going to have to research that. I thought we were owed for the last check in april

I wondered about the last paycheck in April. Still can't get a trusted answer. I keep being referred to a letter that explains implementation of benefits and pat and so on. It all starts in May. No one can explain the last paycheck in April though.