The DOL files suit against the IAMPF and trustees

[WeAAsles]

What ever the law and the IAM Constitution permits.
 
But the facts need to be brought out, not just based on a DOL Civil Filing, none of us has seen the evidence.

Too many charges for my liking. And the DOL isn't just going to file a suit Willy Nilly.

 

[700UW]

Go ask the the PMCO FAs, the voted down two CBAs that contained the IAMNPF and kept their CARP plan.
 
I was on their 2005 FA Negotiating Committee and the committee respected the FAs wishes and pulled it from negotiations

They do do surveys.
 
You dont get to pick and choose, what articles you vote on, its always the whole package.

 

[Tim Nelson]

No one should pass judgement till all the facts come out.
 
And once again, anyone who was involved should be held liable and appropriate action be taken.

But, it is very smart for the members to make sure their interest are consulted with by "Top" attorneys. We have to find out what is going on.

regards,

 

[WeAAsles]

That's what I agree with. Nobody has our interest regarding this case. I think it is prudent to have a "Top" attorney involved to make sure we can review if any of these investment decisions, due to $2,000 bottles of wine, affected my investments insomuch that the "Drop Dead" letter that became effective January 1, 2014 was due to these very poor funds. I don't know but we have to find out what is going on. And at the least, until we can find out what is going on, I don't personally believe the TWU members should be tossed into the IAMPF. Now isn't the time.

regards,

Tim you're reaching for a reaction with the word "tossed" Otherwise I agree with the rest of your comment.

God help me the end of the World is nigh.

 

[700UW]

Too many charges for my liking. And the DOL isn't just going to file a suit Willy Nilly.

Then why did they only file a civil suit and not criminal charges, which if you look on their enforcement page, they have no problem doing.

 

[WeAAsles]

Go ask the the PMCO FAs, the voted down two CBAs that contained the IAMNPF and kept their CARP plan.
 
I was on their 2005 FA Negotiating Committee and the committee respected the FAs wishes and pulled it from negotiations
They do do surveys.
 
You dont get to pick and choose, what articles you vote on, its always the whole package.

A simple survey would have shown that they were not interested in the IAMPF over there CARP plan. They didn't need to vote no twice.

 

[700UW]

So democracy works, they voted it down.
 
So which is it, can the members not vote something down or can they vote it down?

 

[WeAAsles]

Then why did they only file a civil suit and not criminal charges, which if you look on their enforcement page, they have no problem doing.

I'm going to guess because at least for the moment the DOL doesn't consider the matter to be that egregious? You are correct in at least for now in the complaint no Trustee directly pocketed any funds.

Where it goes from here is the question? Good or Bad?

 

[700UW]

Nothing good can come out of this except the money being recovered and people responsible be held totally accountable under the law and IAM Constitution.
 
My question is I know the people named voted on the selection of the consultants, were they all at the dinners, the parties, etc?
 
Or are they being held accountable as they vote on the financials and spending and approved the expenditures?

 

[Talos]

And the IAMPF was of course the only option. I'm quite sure there is someone out there who would know if the company offered a 401k match?

The truth is if that match is on every dollar earned including extra hours I can see how AA might prefer the IAMPF over a match since they would be paying out more money possibly.

But BTW even though this issue is a huge black eye if I am given a choice I still "MAY" chose to participate in the IAMPF? I'm not going to blame the fund for the actions of a few individuals.

All the people I know at LAA are against the IAMPF being forced upon us. Everyone also understood that the LUS people had been in the fund and should be allowed to continue it. It was the one thing that made people deal with this association. The feeling that a work group should not be screwed out of something set aside for years is easy to accept. I hope they offer a choice which I would think is an easy thing as things remain the same for all workers. It's not that the IAMPF has this corruption allegation, but more that LAA has a lot of senior guys that are too old to build up a new pension, unless they rolled the frozen one into it if they could. I'm not familiar with the legal stuff. 

 

[WeAAsles]

So democracy works, they voted it down.
 
So which is it, can the members not vote something down or can they vote it down?

Thankfully they only had to say no twice. How much time was wasted on that though?

 

[WeAAsles]

All the people I know at LAA are against the IAMPF being forced upon us. Everyone also understood that the LUS people had been in the fund and should be allowed to continue it. It was the one thing that made people deal with this association. The feeling that a work group should not be screwed out of something set aside for years is easy to accept. I hope they offer a choice which I would think is an easy thing as things remain the same for all workers. It's not that the IAMPF has this corruption allegation, but more that LAA has a lot of senior guys that are too old to build up a new pension, unless they rolled the frozen one into it if they could. I'm not familiar with the legal stuff.

I think this little brouhaha should pretty much guarantee now that there will be a choice over anyone being forced to participate.

And that should include current plan participants as well.

 

[WeAAsles]

Nothing good can come out of this except the money being recovered and people responsible be held totally accountable under the law and IAM Constitution.
 
My question is I know the people named voted on the selection of the consultants, were they all at the dinners, the parties, etc?
 
Or are they being held accountable as they vote on the financials and spending and approved the expenditures?

The current fund trustees should put out a letter of explanation. Some damage control is absolutely needed.

 

[700UW]

They probably are being told not to by lawyers.

But yes something needs to be put out yesterday.

 

[700UW]

Show me one CBA vote in the airlines that you don't vote the entire CBA up or down?

You CBA vote is not a Chinese Restaurant, you don't pick from column A or B.