JCBA Negotiations and updates for AA Fleet

[WeAAsles]

Maybe a class action...
Like shift differential, it was left at a  a cent or two and not done away with so it could be brought back.
Our pension was not given to the PBGC, it was only frozen. Let's have our negotiators demand that in our contract, everything
else in our airline life is going contractual.

I LOVE the idea of demanding it back. But if that happened how could we force the company to pay into it and not divert cash to other places?

The stock buyback program money could have almost shore up the entire current shortfalls.

Without a law in place to force companies to take care of the employees before the investors (Like France) we could just wind up in the same spot or even worse the next time?

 

[Kev3188]

Much better to start building in the Ozarks and stock your fortification with as much food, water and firepower that you can afford now?

My DBP was chit too since there was no laws in place to force my company to keep it 100% funded and not be allowed to freeze that benefit in a court process not designed for us the workers.

And without some type of fixed income check coming in once a month you could easily be one medical catastrophe away from that nest egg of yours seeing a total wipeout.

What are you going to do then?

In my perfect World AA management would be forced by law to reinstate my frozen pension to active status, restore my lost contributions from the time it was frozen, make up the funding shortfall in 5 years or less time and maintain the funding to 100% levels monitored by Government and actuaries from my Union yearly.

I very much doubt I'm ever going to see that though am I? Even if now this company I work for can absolutely afford to do it.

If we go with your theory that there is no such thing as a "100% secure" retirement-and I do-then the discussion has to be about worker empowerment, and which options best give people some protections against those market forces.

 

[WeAAsles]

If we go with your theory that there is no such thing as a "100% secure" retirement-and I do-then the discussion has to be about worker empowerment, and which options best give people some protections against those market forces.

Always has been about that.

 

[Traymark]

If we go with your theory that there is no such thing as a "100% secure" retirement-and I do-then the discussion has to be about worker empowerment, and which options best give people some protections against those market forces.

 
 

Always has been about that.

 
 
And the obvious answer is:
 
a 401K provides the individual with total control and empowerment of their retirement monies,
 
while the IAMPF provides the individual with Zero control or empowerment of their retirement monies, period!

 

[WeAAsles]

And the obvious answer is:
 
a 401K provides the individual with total control and empowerment of their retirement monies,
 
while the IAMPF provides the individual with Zero control or empowerment of their retirement monies, period!

Total empowerment? Ok you keep telling yourself that. I guess you never took it in the shorts any time the market took a downturn?

The best option you can get:

Di-vers-i-fy

 

[Kev3188]

...Which you can't do with a DB plan...

 

[Traymark]

Total empowerment? Ok you keep telling yourself that. I guess you never took it in the shorts any time the market took a downturn?

The best option you can get:

Di-vers-i-fy

 
 
 
You DO know, the IAMPF is invested in the market , don't you?
 
You also know that YOU will have ZERO influence on how and what that money is invested in by the IAMPF, don't you?
 
In a 401, YOU, the individual, make your own choices on investments, how much and what in. 
 
This is not even close.

 

[WeAAsles]

You DO know, the IAMPF is invested in the market , don't you?
 
You also know that YOU will have ZERO influence on how and what that money is invested in by the IAMPF, don't you?
 
In a 401, YOU, the individual, make your own choices on investments, how ,much and what in. 
 
This is not even close.

Correct. I also know that with that Pension (Like Social Security) it's the people who are coming in behind me that prop it up for my benefit. And so on and so on.

When my 401k is exhausted that's it. It's finished.

I have currently:

Frozen Pension
Social Security
401k
Property

I certainly wouldn't mind adding one more item to that list.

 

[Traymark]

Also, Weasles, what do you think will happen to your IAMPF when the market tanks, once again?
 
It won't be quite the fund it was before , and the folks running it have full power and control to cut YOUR benefits to whatever number they wish to, and they will because they will have to.
 
Now THAT's what I call "Diversifying".

 

[Traymark]

Correct. I also know that with that Pension (Like Social Security) it's the people who are coming in behind me that prop it up for my benefit. And so on and so on.

When my 401k is exhausted that's it. It's finished.

I have currently:

Frozen Pension
Social Security
401k
Property

I certainly wouldn't mind adding one more item to that list.

 
 
I got a bridge I can sell you.

 

[WeAAsles]

Also, Weasles, what do you think will happen to your IAMPF when the market tanks, once again?
 
It won't be quite the fund it was before , and the folks running it have full power and control to cut YOUR benefits to whatever number they wish to, and they will because they will have to.
 
Now THAT's what I call "Diversifying".

What's going to happen when the market collapses? So does your 401k.

Listen I don't really care what any of you want or don't want really. When it comes to MY retirement "I" want to make MY own choice.

AND "I" want the IAMPF to be one of "MY" choices to make.

Will I make the choice to jump in? That still depends on a few unanswered questions.

 

[WeAAsles]

I got a bridge I can sell you.

I already own a very sturdy bridge. But I'd be willing to sell it to you.

 

[WeAAsles]

...Which you can't do with a DB plan...

If you're stupid enough to allow that to be your only retirement resource outside of Social Security (Which you don't control either) then no I guess you don't truly control the investments they're making (unless) you bust their balls and advocate strongly (DOL remember) that they better get on their horse and make better choices for all of you.

 

[Kev3188]

Correct. I also know that with that Pension (Like Social Security) it's the people who are coming in behind me that prop it up for my benefit. And so on and so on.

When my 401k is exhausted that's it. It's finished.

I have currently:

Frozen Pension
Social Security
401k
Property

I certainly wouldn't mind adding one more item to that list.

I have the same list and the IAMNPF and an IRA. Still doesn't change my mind about the plan...
 
Would much rather roll my accrued amount into one of the other vehicles. 

 

[Worldport]

If you're stupid enough to allow that to be your only retirement resource outside of Social Security (Which you don't control either) then no I guess you don't truly control the investments they're making (unless) you bust their balls and advocate strongly (DOL remember) that they better get on their horse and make better choices for all of you.

I love it when a baggage handler or mechanic  thinks he knows more about the market  and can do a better job than someone with an MBA. You ever drive pass OTB everyone in there thinks they have it figured out and they can pick the winners, same thing