IAM Pention Fund/Really How Good Is It? in $$.$$

[Mr Eagle]

I Have Heard So Much about this SO CALLED Pention that the IAM Has & some Unions have contibuted to. I have Many Question's. Can some one Please Share with THE Honest Hard Working People Just Exactley HOW Much One Could Expect to Be Placed in One's Bank Acct. Each Month/Week/Year? You IAM people Are So Quick to Brag up YOUR pention Fund,I Do Not Hear or See Much In the Way of Figure's to Back up YOUR Great IDEA of Retirement.

I Prefer OUR 401K It Give's Me
Choice's Not Empty Promise's.


MWW W/USAIRWAYS Tech.

 

[AIRWOMAN]

I Have Heard So Much about this SO CALLED Pention that the IAM Has & some Unions have contibuted to. I have Many Question's. Can some one Please Share with THE Honest Hard Working People Just Exactley HOW Much One Could Expect to Be Placed in One's Bank Acct. Each Month/Week/Year? You IAM people Are So Quick to Brag up YOUR pention Fund,I Do Not Hear or See Much In the Way of Figure's to Back up YOUR Great IDEA of Retirement.

Prefer OUR 401K It Give's Me Choice's NotEmpty Promise's.
MWW W/USAIRWAYS Tech.

You're asking for information??? You're wasting your time. Honestly, I have tried over and over.

I agree with you. I prefer my 401K where I have control over my money and not the company (subject to the limitations of contribution options, of course) or a union.

You can PM me and I'll give the whole story.

 

[700UW]

The IAMNPP if overfunded and very secure.

IAM National Pension Plan

The union does not control the plan, it is a jointly adminstered by company board members and union board members.

 

[AIRWOMAN]

The IAMNPP if overfunded and very secure.

IAM National Pension Plan

The union does not control the plan, it is a jointly adminstered by company board members and union board members.

And how does the or would the IAM propose to bridge us into this pension plan??

 

[700UW]

And how does the or would the IAM propose to bridge us into this pension plan??

It would be negotiated into the transition agreement with a specific dollar amount.

For example the 401k match would be eliminated and that money into the IAMNPF and also the base contribution that US/East puts into the base plan not the 401k would go into the IAMNPF. This is East, not west.

The ramp has a high multiplier.

 

[Jen]

From IAM letter: Teamsters Campaign Against US Airways Workers

The Machinists contract will require the recall of hundreds of workers when the workforces merge-the Teamsters contract can't. The teamsters can't give you anything, so they have anti-union organizers actively working to decertify the IAM.
We have heard poeple on this board say that the IAM contract is the one that will survie. So if this is true then the statement above would be false. That means even with the Teamsters voted in hundreds will be recalled.

So what is it?

One of them is IAM propaganda.

What are these anti-union organizers?

Anti.... Probably!!!
IAM propaganda.. ABSOLUTLEY !!! ALL THEY HAVE TO SAY IS PENSION PENSION PENSION (WHICH IS CRAP)and DONT FORGET..
THEY (IBT/TWU) ARE ONLY GOING FOR DECERTIFICATION!!!
If you are gullable enough to buy into that chicken S*#t
attempt at intimidation of voting in an election!
If they werent scared.... they would be encouraging (their fed up members) YOU ALL to VOTE!!! Afraid YOU WONT VOTE FOR THEM!!
BUT PROBLY HOPE YOU WONT VOTE AT ALL!! Face it they are up to their YING YANGS at this point!

REGARDS!!

Is Your Future WORTH Voting for???
I shall think so!!! IBT/TWU

 

[700UW]

It is not crap.

Do you have a company paid pension at HP in the twu CBA?

Not a 401K.

US/East Fleet Service do!

IAMNPF

 

[AIRWOMAN]

It would be negotiated into the transition agreement with a specific dollar amount.

For example the 401k match would be eliminated and that money into the IAMNPF and also the base contribution that US/East puts into the base plan not the 401k would go into the IAMNPF. This is East, not west.

The ramp has a high multiplier.

So basically you're saying that the IAM pension fund would take our current 401K balance and roll it into the fund?? No way!! United, years back, voted that out. If that were to happen, I would imagine that there would be a quick emptying of vested plans.

Personally, I want control of MY money.

 

[AIRWOMAN]

It is not crap.

Do you have a company paid pension at HP in the twu CBA?

Not a 401K.

US/East Fleet Service do!

IAMNPF

Any work group..........will there be a choice?? There is a choice in regards to participating in the 401K program. IMO, anything that is forced like this, IS CRAP!

 

[700UW]

I did not say that.

Your 401K is yours and no one elses and by law cant be put into a pension plan.

I said the 401K MATCHING Funds.

And the US/East have a base pension each week.

That would be put into the IAMNPF for your multiplier.

No where did I say your 401K would be taken from you.

Don't put words into my posts.

 

[AP Tech]

If it was so good why was it not negotiated into the Mechanics & related contract at Usairways years ago?


Back around the same time they negotiated "Scope" :blink:

 

[allunionsdeceive]

It is not crap.

Do you have a company paid pension at HP in the twu CBA?

Not a 401K.

US/East Fleet Service do!

IAMNPF

I see you got off the topic.

Thats right you have nothing to say of the IAM propaganda.

Someones calling for rags.

 

[700UW]

Because our pension was better before it was terminated.

And if you remember we tried to get into the plan during the first bankruptcy.

Fleet Service Pension letter

 

[Jimmy Neutron]

So basically you're saying that the IAM pension fund would take our current 401K balance and roll it into the fund?? No way!! United, years back, voted that out. If that were to happen, I would imagine that there would be a quick emptying of vested plans.

Personally, I want control of MY money.

No that's not what he said. Your 401k is yours period. It will always be yours and no one but you can get it.

What he's saying is that you would no longer recieve a company match into your 401k, although you can keep contributing to it yourself.
You then would be brought into the IAM pension plan starting at year 1. For every year you work under the plan full-time you will recieve (currently) $78.00 per month and part-time $53.00 for every year worked under the plan.
I believe the monthly amount increases over the next several years as we just had an increase in it in July.


The last part of his explanation was that the fund is actually fully funded, unlike all the other ones you here about being transfered to the PBGC (govt) Which we on the east have also had and lost too.

 

[allunionsdeceive]

The IAMNPP if overfunded and very secure.

IAM National Pension Plan

The union does not control the plan, it is a jointly adminstered by company board members and union board members.

I see under the above web site that the

Us Airways Inc (Full-Time Fleet Service Employees)
Us Airways Inc (Maintenance Training Specialists)
Us Airways Inc (Part-Time Fleet Service Employees)

The AMT's do not get this.