JCBA Negotiations and updates for AA Fleet. **New and improved 2.0 version**

[WeAAsles]

It’s beyond me the level of stupidity I read in a certain Fb group, Christ I feel like I lose iq points when I go there

Don’t tell me. Does the sole admin have the initials TN? And does the “kook” throw people off his page if they even sneeze in his direction?

 

[ALUS78]

8600 as of 4/1/2008

https://www.solidarity-us.org/node/1473

Kev’s NWA was still chugging along (barely) on that day just a week or so leading upto the transaction announcement with DL.

Josh

Wow AMFA must have really done them wrong

 

[Racer X]

PRez if the company is going to contribute X amount to retirement what difference does it make to them if its IAMPF or 401k??

The difference to the company is money. 401k is cheaper than pension to them.
For example Let’s say retirement is worth 10 million dolllars..... in the pension the company MUST contribute 10 million dollars. In a 401k MATCH the company contributes a set amount on the base of 3% ( in first proposal) or 5% ( in most recent proposal). Then company will MATCH whatever the employee contributes up to 6% ( in first) or 4% ( most recent). The company knows that only approx 40% of employees contribute their own money. So they can pocket the money of the other 60% of employees do not contribute.
So the 401k theoretically only costs the company 4 million not 10 million..
This is an example only

 

[ALUS78]

The difference to the company is money. 401k is cheaper than pension to them.
For example Let’s say retirement is worth 10 million dolllars..... in the pension the company MUST contribute 10 million dollars. In a 401k MATCH the company contributes a set amount on the base of 3% ( in first proposal) or 5% ( in most recent proposal). Then company will MATCH whatever the employee contributes up to 6% ( in first) or 4% ( most recent). The company knows that only approx 40% of employees contribute their own money. So they can pocket the money of the other 60% of employees do not contribute.
So the 401k theoretically only costs the company 4 million not 10 million..
This is an example only

Yeah but they are goving a 5% base which is about the same as the IAMPF contribution

 

[WeAAsles]

Yeah but they are goving a 5% base which is about the same as the IAMPF contribution

Yeah but Al that 5% is a different expense depending on where the Member sits on that payscale. A guy making $14.00 per hour is not going to get the same amount as the guy making over $30.00 per hour.

Not to mention again that 4% that a huge amount of the people we work with won’t even be hitting at all.

The article I posted the other day said the average Company Match was 4.5% first dollar and the average Company had 21% of their Workers not hitting that full match.

 

[Tim Nelson]

The difference to the company is money. 401k is cheaper than pension to them.
For example Let’s say retirement is worth 10 million dolllars..... in the pension the company MUST contribute 10 million dollars. In a 401k MATCH the company contributes a set amount on the base of 3% ( in first proposal) or 5% ( in most recent proposal). Then company will MATCH whatever the employee contributes up to 6% ( in first) or 4% ( most recent). The company knows that only approx 40% of employees contribute their own money. So they can pocket the money of the other 60% of employees do not contribute.
So the 401k theoretically only costs the company 4 million not 10 million..
This is an example only

Look jackoff. How about passing first grade math? First off, the company WILL be paying 5% on all compensation and it all goes to the employee account. So base pay of $75,000 means $3,700. For part timers, 2.5% on a 5 work hour shift would be a chit $650 a year. SAY WHAT? And a 30% additional pension fee. Lovely.

So go take your bullchit pension and scrap it. Oh and btw, we work overtime, we dont get more money since the company caps your nasty pension at 2700. So the company pays alot more in 5% base than the iam 5% base.

 

[P. REZ]

Look jackoff. How about passing first grade math? First off, the company WILL be paying 5% on all compensation and it all goes to the employee account. So base pay of $75,000 means $3,700. For part timers, 2.5% on a 5 work hour shift would be a chit $650 a year. SAY WHAT? And a 30% additional pension fee. Lovely.

So go take your bullchit pension and scrap it. Oh and btw, we work overtime, we dont get more money since the company caps your nasty pension at 2700. So the company pays alot more in 5% base than the iam 5% base.

Tim,

Here's some more MATH for you. My scenario is that we have a choice between pension or 401k match. Part time Employee A works 1700 hours per year and makes $15.85 an hour. He takes the pension and puts in 4% into his 401k but doesn't get the match. Part time Employee B works 1700 hours per year and makes $15.85 per hour. He takes 401k and gets auto 5% company match, puts in 4% of his income to get 4% match from company. Both of their 401k's earn 7% per year. They both work for 10 more years and retire. They both pull out 4% of their 401k's at retirement.

Employee A $1077.80 X 10 years at 7%= $15933. $15933 X 4%=$53 per month. Add their pension accrual of $41.69 per year X 10 years=$416. 416+53=$469 per month.

Employee B $3502.85 X 10 years at 7%=$51784. $51784 X 4%=$172 per month.

Employee A would take home $469 per month at retirement while Employee B would take home $172 per month. Employee A takes home $297 more a month for choosing the pension. So, part time employees make out as well.

P. Rez

 

[AANOTOK]

So, who's move is it. Was that a take it or leave it? Was it just a propaganda move by the company? Do the company and Association resume negotiations? Does it come out for a vote? Are we on ice until section 6? What's next??

 

[ALUS78]

Tim,

Here's some more MATH for you. My scenario is that we have a choice between pension or 401k match. Part time Employee A works 1700 hours per year and makes $15.85 an hour. He takes the pension and puts in 4% into his 401k but doesn't get the match. Part time Employee B works 1700 hours per year and makes $15.85 per hour. He takes 401k and gets auto 5% company match, puts in 4% of his income to get 4% match from company. Both of their 401k's earn 7% per year. They both work for 10 more years and retire. They both pull out 4% of their 401k's at retirement.

Employee A $1077.80 X 10 years at 7%= $15933. $15933 X 4%=$53 per month. Add their pension accrual of $41.69 per year X 10 years=$416. 416+53=$469 per month.

Employee B $3502.85 X 10 years at 7%=$51784. $51784 X 4%=$172 per month.

Employee A would take home $469 per month at retirement while Employee B would take home $172 per month. Employee A takes home $297 more a month for choosing the pension. So, part time employees make out as well.

P. Rez

Ok why is the company going after our pension, are they being vindictive?

 

[ALUS78]

So, who's move is it. Was that a take it or leave it? Was it just a propaganda move by the company? Do the company and Association resume negotiations? Does it come out for a vote? Are we on ice until section 6? What's next??

Rember the CWA and company got in a tussle right before they settled

 

[Tim Nelson]

Ok why is the company going after our pension, are they being vindictive?

They are freeing you. Do you understand that? Do you remember the union cutting your pension in 2014 by 50%?

 

[WeAAsles]

They are freeing you. Do you understand that? Do you remember the union cutting your pension in 2014 by 50%?

If they really care so much (They don’t) they’ll give you a new Defined Benefit Pension and they’d reinstate the one they froze on us in 2012.

 

[Racer X]

Look jackoff. How about passing first grade math? First off, the company WILL be paying 5% on all compensation and it all goes to the employee account. So base pay of $75,000 means $3,700. For part timers, 2.5% on a 5 work hour shift would be a chit $650 a year. SAY WHAT? And a 30% additional pension fee. Lovely.

So go take your bullchit pension and scrap it. Oh and btw, we work overtime, we dont get more money since the company caps your nasty pension at 2700. So the company pays alot more in 5% base than the iam 5% base.

Now now ,,, with the name calling.......not nice

 

[WeAAsles]

Now now ,,, with the name calling.......not nice

He’s a very excitable little fellow. Has he always been this way?

 

[Racer X]

Yeah but they are goving a 5% base which is about the same as the IAMPF contribution

Stands to reason that there was also a proposal by the NC to increase the pension contribution. I would have to think that if the company offers in a 401k plan a total of 9% by them. ( 3% base/ 6% match) then a new offer of (5%base/4%match) still 9%.....why wouldn’t you think there was an increase in pension proposed by Union? Possibly up to 9%???