August 18, 2004
IAM / US AIRWAYS UPDATE
To all US Airways Mechanic and Related Employees:
Pension Payment
US Airways issued a news release concerning the payment into the Defined Benefit Pension Plan. The release stated that US Airways was asking the Internal Revenue Service (IRS) for a waiver so they could make the required pension payments over a five year period. If granted, US Airways would still be required to make all necessary payments.
The request for a waiver by US Airways is legal and does not violate the Collective Bargaining Agreement.
The request, if granted, will not change the retirement benefits for active or retired employees.
Our (ERISA) Attorneys will continue to monitor the process.
This request by US Airways to the (IRS) is not to stop payments into the plan, but to allow them to continue funding the plan over a longer period of time.
August 31, 2004, meeting scheduled
District Lodge #141 and District Lodge #142 President-Directing General Chairmen and General Chairpersons will meet at the Company’s Headquarters to explain the union’s cost saving proposals. The time has come for the Company to listen to our recommendations so as to achieve the significant cost savings proposed by the Union and necessary for the Company’s survival.
Remembering again, the concession stand is closed and will remain so.
We will continue to keep you advised of all future developments as they occur
Sincerely and fraternally,
William O'Driscoll
PRESIDENT-DIRECTING
GENERAL CHAIRPERSON
Steve Ebert Bill Freiberger Tony Giammarco Duke Synder
GENERAL CHAIRPERSONS
Tom Regan
UNION REPRESENTATIVE
IAM / US AIRWAYS UPDATE
To all US Airways Mechanic and Related Employees:
Pension Payment
US Airways issued a news release concerning the payment into the Defined Benefit Pension Plan. The release stated that US Airways was asking the Internal Revenue Service (IRS) for a waiver so they could make the required pension payments over a five year period. If granted, US Airways would still be required to make all necessary payments.
The request for a waiver by US Airways is legal and does not violate the Collective Bargaining Agreement.
The request, if granted, will not change the retirement benefits for active or retired employees.
Our (ERISA) Attorneys will continue to monitor the process.
This request by US Airways to the (IRS) is not to stop payments into the plan, but to allow them to continue funding the plan over a longer period of time.
August 31, 2004, meeting scheduled
District Lodge #141 and District Lodge #142 President-Directing General Chairmen and General Chairpersons will meet at the Company’s Headquarters to explain the union’s cost saving proposals. The time has come for the Company to listen to our recommendations so as to achieve the significant cost savings proposed by the Union and necessary for the Company’s survival.
Remembering again, the concession stand is closed and will remain so.
We will continue to keep you advised of all future developments as they occur
Sincerely and fraternally,
William O'Driscoll
PRESIDENT-DIRECTING
GENERAL CHAIRPERSON
Steve Ebert Bill Freiberger Tony Giammarco Duke Synder
GENERAL CHAIRPERSONS
Tom Regan
UNION REPRESENTATIVE