POST/ TRANSITION With US AIRWAYS/AMT/UNION'S.
- Thread starter Mr Eagle
- Start date
Bird Doctor
Senior
YOU know what you can do with that IAMNPF
http://money.cnn.com/2006/05/03/retirement...rends/index.htm
Shift away from pensions continues
Pensions and hybrids lose share among Fortune 100 company retirement plans, a new survey shows.
By Christian Zappone, CNNMoney.com staff writer
May 4, 2006: 9:39 AM EDT
NEW YORK (CNNMoney.com) - The largest companies in the United States are continuing their shift away from traditional pensions toward 401(k) plans, according to an analysis of pension trends by Watson Wyatt, a human resources consulting firm.
The number of FORTUNE 100 companies offering pensions in 2005 has dropped to 37, from nearly 90 in 1985.
The number of companies analyzed offering only 401(k)s has risen from 10 to 36 during the same period. Those offering a hybrid of the two plans have diminished to 27 from a high of 33 in 2004.
Hybrids function like company-sponsored 401(k)s with no employee contribution. They are technically considered "defined benefit" plans like pensions and in fact are federally insured by the Pension Benefit Guaranty Corporation. But they accumulate benefits in a hypothetical account balance that is paid out in a lump sum and workers can cash them out upon leaving their company.
Hybrids were on the rise until 2002 when regulatory and legislative difficulties slowed their growth, according to the report.
"The defined benefit system finds itself at a very critical stage," said Sylvester J. Schieber, director of U.S. benefits consulting at Watson Wyatt. Schieber warned that companies "moving to only a defined contribution plan may make it harder to retain employees and ensure they have adequate retirement savings
With this movement DO you really think that your IAMNPF will ever make it????
With over $7 Billion in assets, overfunded, growing everyday and more companies joining it will be just fine.
Continental's F/As just joined as did UA Ramp and Customer Service as did NWA Customer Service and the Ramp is pending ratification.
Continental's F/As just joined as did UA Ramp and Customer Service as did NWA Customer Service and the Ramp is pending ratification.
Bird Doctor
Senior
3 wrongs don't make it the smart thing to do.
Does your IAMNPF give you interest earned on your money???NO they keep it, and give you the CHUMP change.
Your Personal Rate of Return 05/26/05-05/25/06
This Period 52.1%
awausairtech
Veteran
Bob I Posted this in the watercooler but I think it will go well here.
Plz. Try to understand I am no way pro-company or am I trying to belittle the unskilled…
My point is that in this day and age we as AMT’s have brought up unskilled labor as far as we can...
Without the support of the Unions we will never be a Skilled Profession as is the AUTO WORKERS.
If you look at it this way a CAR MECHANIC IS A SKLLED WORKER AND AN AIRCRAFT MECHANIC IS UNSKILLED?????????
This is what I call being belittled.
IMO!
Why Not Let the ASE Mechanic pull the load and let The AMT set the Higher Wage.
As a Skilled Licensed Worker The ASE can pull the unlicensed up with them as a Support Group.
This way The AMT can help pull the ASE mechanics up a little further along with the unskilled and unlicensed workers.
There will be a point were the ASE Mechanics will have to cut the coattails as Professional Licensed Mechanics to stay up with the Professional Licensed FAA AMT Mechanics.
We as AMT’s have done this for unskilled for over 30 years and now we are stalled in this day and age.
This is why I say the Company is not going to pay the Paperboy what they will pay the Plumber.
I hope UAL TECH you can understand my Math Formula –X = XYZ to the second power of the new day and age.
Groundcontrol I totally agree with you. (They all have a job to perform and each job/class is just as important and vital to running an airline.) But Some Jobs Should Pay More Due To The Responsibility Of The Job Class And Craft.
I like to get 7 all woundup...LOL
First of all you don't pay your money into the IAMNPF, the company pays into it for you, there is no money taken out of your paycheck, unlike your 401K which is YOUR money taken directly out of your pay check.
And to awa,
If the ASE mechanics are skilled then why at HP do they make less then AMTS?
At US all mechanics make the same rate of pay.
And to awa,
If the ASE mechanics are skilled then why at HP do they make less then AMTS?
At US all mechanics make the same rate of pay.
awausairtech
Veteran
Due To The Responsibility Of The Job Class And Craft.
awausairtech
Veteran
700 we all know the AMT is a skilled worker but the unions have used the AMT to get higher wages for the true unskilled to up the dues paid to the Union bottom line.
The union is not going to fight for the AMT for a skilled worker as it is not in there best interest as we are the best tool they have to keep up the dues.
1967 - IAM attempts to permit baggage-handlers to vote in airline mechanic representational elections. Machinists claim baggage-handlers and airline mechanics are “related in talents.
1977 - IAM again urges the NMB to allow baggage-handlers to vote in airline mechanics’ elections, insisting “Ramp Servicemen and Customer Service Agents preponderantly perform recognized Mechanics†duties
As you can see the IAM as used us in the past.
The union is not going to fight for the AMT for a skilled worker as it is not in there best interest as we are the best tool they have to keep up the dues.
This is what I meant by my post.(We as AMT’s have done this for unskilled for over 30 years and now we are stalled in this day and age.)
1967 - IAM attempts to permit baggage-handlers to vote in airline mechanic representational elections. Machinists claim baggage-handlers and airline mechanics are “related in talents.
1977 - IAM again urges the NMB to allow baggage-handlers to vote in airline mechanics’ elections, insisting “Ramp Servicemen and Customer Service Agents preponderantly perform recognized Mechanics†duties
As you can see the IAM as used us in the past.
700 I know your pro IAM and selling their services but pick one side of the argument, because you can't have both. If the company agreed to pay into the IAMNPF its coming out of someones paycheck and that overall amount was negotiated by someone in the union & co. Same think with a 401k.
awausairtech
Veteran
700uw the Heat you get from the west is the way you try to cram the IAM and IAM CBA down our throat.
You and I when at it over the southwest IBT contract that the AMFA is using and as you said It is now a AMFA contract after Amfa redid a few things to the IBT contract so AFTER WE AS TEAMSTERS WIN THE VOTE
WE WILL as you say (you will administer the IAM CBA with a transition agreement)AND CHANGE A WHOLE LOT OF THINGS AND CALL IT A IBT CONTRACT JUST FOR YOU!
How long has the stores clerks been in? did you not say 50 years??? 1949?
You and I when at it over the southwest IBT contract that the AMFA is using and as you said It is now a AMFA contract after Amfa redid a few things to the IBT contract so AFTER WE AS TEAMSTERS WIN THE VOTE
WE WILL as you say (you will administer the IAM CBA with a transition agreement)AND CHANGE A WHOLE LOT OF THINGS AND CALL IT A IBT CONTRACT JUST FOR YOU!
for over 30 years.
How long has the stores clerks been in? did you not say 50 years??? 1949?
The NMB determined the Stock Clerks are part of class in craft in 1949.
And if WN's CBA is so great why do they outsource the majority of their maintenance?
And if the ibt is so great why is your HP CBA the bottom of the barrel?
Keep trying.
And if WN's CBA is so great why do they outsource the majority of their maintenance?
And if the ibt is so great why is your HP CBA the bottom of the barrel?
Keep trying.
awausairtech
Veteran
Keep trying.The NMB determined the Stock Clerks are part of class in craft in 1949.(IMO NEEDS TO BE CHANGED)
And if WN's CBA is so great why do they outsource the majority of their maintenance?(DONT LIKE THE OUTSOURCE BUT THEY MAKE A LOT MORE MONEY THAN WE DO AND HAVE BETTER BENEFITS ALL THE WAY AROUND.)
And if the ibt is so great why is your HP CBA the bottom of the barrel?(OTHER THAN THE SCOPE IN THE IAM CONTRACT HAVE YOU READ THE IAM CONTRACT?THATS CALLING THE KETTLE BLACK.)
Keep trying.
The IAM/US CBA scope language is still superior to ANY ibt contract in the aviation industry.
And if WN's is so great why did they VOTE OUT the ibt?
It is about having as many people working at a good living, not just a few elitists making high dollars, you really need to be educated on Trade Unionism.
And if WN's is so great why did they VOTE OUT the ibt?
It is about having as many people working at a good living, not just a few elitists making high dollars, you really need to be educated on Trade Unionism.
awausairtech
Veteran
educated on Trade Unionism.700 did you not read my post? Times have changed from 1949 and as I said(IMO I think this would help up the pay all around rather that stall the whole class and craft!)IMO!
Why Not Let the ASE Mechanic pull the load and let The AMT set the Higher Wage.
As a Skilled Licensed Worker The ASE can pull the unlicensed up with them as a Support Group.
This way The AMT can help pull the ASE mechanics up a little further along with the unskilled and unlicensed workers.
Times have changed in the airlines, walking out we get just what AMFA got at NW and they learnt that from Continental years back and look at what the IAM did for the Continental union members...THE IAM RAN OUT THE BACK DOOR ON THEM.(LOL I GUESS THAT IS WERE THEY LEARNT THE BACK DOOR TRICKS)
700 HAVE A NICE IBT DAY I GOT TO GO.
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