groundcontrol
Veteran
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- Oct 17, 2005
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All except for the pilots...........
nuff said
nuff said
Pension Plans "frozen" come Sept.30
- Thread starter groundcontrol
- Start date
I believe the pilots plan will be frozen as well.
Similar 401k as everyone else. Unless this has
changed since I left. Also "me too" clauses that
have been included in other contracts will make that
difficult.
Don Smith
Veteran
No pilots union memtioned in the official letter. <_<
Kev3188
Veteran
Too bad it's effective on the 30th of Sept...If they'd have just held out another 6 weeks, I could have had another year of service credit. 
Seriously, the *one* thing the company was asking for that I was "for" was a freezing of the pension with a 401K match. For most folks in ground ops, I think it would have made a lot more economic sense. I'm still not sure why the IAM fought so hard against it. Everyone I've talked across the system-senior, junior or in between-wanted the same thing.
As it stands the IAM pension fund doesn't sound like much more than a promise in the dark (ie: even now, no one can say with any surety what the multiplier will be). :down:
Seriously, the *one* thing the company was asking for that I was "for" was a freezing of the pension with a 401K match. For most folks in ground ops, I think it would have made a lot more economic sense. I'm still not sure why the IAM fought so hard against it. Everyone I've talked across the system-senior, junior or in between-wanted the same thing.
As it stands the IAM pension fund doesn't sound like much more than a promise in the dark (ie: even now, no one can say with any surety what the multiplier will be). :down:
Don Smith
Veteran
Too bad it's effective on the 30th of Sept...If they'd have just held out another 6 weeks, I could have had another year of service credit.
Seriously, the *one* thing the company was asking for that I was "for" was a freezing of the pension with a 401K match. For most folks in ground ops, I think it would have made a lot more economic sense. I'm still not sure why the IAM fought so hard against it. Everyone I've talked across the system-senior, junior or in between-wanted the same thing.
As it stands the IAM pension fund doesn't sound like much more than a promise in the dark (ie: even now, no one can say with any surety what the multiplier will be). :down:
Never did get a match with the 401K. Sadly now you never will.
Kev3188
Veteran
True. The reason always given was, "we don't match because you have a pension." If I had a nickel for everytime I heard that, I wouldn't have to worry about my retirement at all.
Yeah, I know.....But hey, at least I'll have my IAM pension, right? :down:
Good thing I've got my 401k (unmatched as it were), and an IRA.
True. The reason always given was, "we don't match because you have a pension." If I had a nickel for everytime I heard that, I wouldn't have to worry about my retirement at all.
Yeah, I know.....But hey, at least I'll have my IAM pension, right? :down:
Good thing I've got my 401k (unmatched as it were), and an IRA.
Yep, the iam national pention
I guess negotiating scab work isn't enough.
Hold on to your wallet Kev. (I think you already know the deal) :down:
The pilot plan was frozen earlier along with the salaried pension plan. I believe it was around the time of the bridge agreement (December 2004).
