The IAM Pension

[robbedagain]

My co worker called the IAM a few weeks ago to see if he can try to collect his IAM Pension because he retired from Mainline USAIRWAYS recently. However he is a Piedmont employee in my station. The IAM rep told him as long as he is working in any and they said ANY industry with IAM representative, he cannot collect any of his pension Needless to say he is p!$$ed about it cuz he had 42 may be 43 yrs with Mainline before we were slaughtered to the outsource. Is there a way he could collect his pension He is in his 60s.

 

[perserverance]

The IAM has been and always will be a company based union. I feel for all employees
who have supported and made some members very comfortable, ie..Canale,etc..
This union is not a union but a buisness looking out for solely its' own well being and
not that of its' members.

You will have supporters come on and defend the IAM but in thier support they can not
disprove the disparity between the haves' and have nots' in this so called union. The elite
members make a very comfortable living while the work force paying the dues literally and
figurtively strive to make ends meet. This union is structured like that of a company. Canale
recieves a title and in doing so brings up his boys to reep the field much like Parker pulling
up his boys and girls while we continue to sit back and pay for thier indifference.

I feel for an employee who has given years of his life to provide for his or her family and friends
and in turn helped a company make billions only to be told WAIT !! We don't live to be 100 often
so when can he enjoy his earned rest ?


Thanks

 

[Tim Nelson]

My co worker called the IAM a few weeks ago to see if he can try to collect his IAM Pension because he retired from Mainline USAIRWAYS recently. However he is a Piedmont employee in my station. The IAM rep told him as long as he is working in any and they said ANY industry with IAM representative, he cannot collect any of his pension Needless to say he is p!$$ed about it cuz he had 42 may be 43 yrs with Mainline before we were slaughtered to the outsource. Is there a way he could collect his pension He is in his 60s.

Generally, one can not collect his IAM pension if he is working elsewhere. If you retire at 55 and have 30 years in, you're screwed. Your pension can be suspended based on you working. IMO, It's actually a brilliant scam by the IAM to rake in more money into American Politics. The United Airline employees even got hammered more. What's even worse is that 70% of those hard working members that have their company contribute into the IAM pension never get a dime back because they don't put in 5 years.
Amazing racket, your company's contribution money goes to the IAM, NOT YOU.

regards,

 

[robbedagain]

sounds like a he!! of a dam good ground to sue the IAM after all it is the money you put into that pension and you cant even touch it 😱ff: :down: :rant: :angry2:

 

[Planemx]

Generally, one can not collect his IAM pension if he is working elsewhere. If you retire at 55 and have 30 years in, you're screwed. Your pension can be suspended based on you working. IMO, It's actually a brilliant scam by the IAM to rake in more money into American Politics. The United Airline employees even got hammered more. What's even worse is that 70% of those hard working members that have their company contribute into the IAM pension never get a dime back because they don't put in 5 years.
Amazing racket, your company's contribution money goes to the IAM, NOT YOU.

regards,

A prime example as to why the union should have NOTHING to do with your pension - NOTHING. I don't trust the IAM to hit the ground when they spit (after they take their cut of course).

 

[roadtrip]

This is why I would rather have matching funds sent into my own 401k. Its my money and I can do what I want.......

 

[robbedagain]

i fully agree with you roadtrip

 

[700UW]

The IAMNPF is a totally seperate entity from the IAM, it is run by Trustees appointed by the employers who participate and the IAM.

 

[skinvalve]

What happens when any TA agreement put forth contains the IAM pension fund provision? That alone in my opinion is reason enough to vote NO regardless of what other goodies might be involved. We stated earlier as a group we did not want it. Let's see the spin on this one.

 

[Planemx]

The IAMNPF is a totally seperate entity from the IAM, it is run by Trustees appointed by the employers who participate and the IAM.

The words IAM and trust/trustees should never be used in the same sentence - I had you pegged as one of the smart ones...

 

[orioleman]

Tim,
"Generally, one can not collect his IAM pension if he is working elsewhere."

Tim your referring to working within the industry aren't you.

I was planning on leaving in 7 yrs get my 500.00 bucks and start my law practice..tell me it ain't so

 

[robbedagain]

well he was even told that he could get penalized if he were to work say at another company out side the airlines he was told that he would have to have permission with an outside company if he wanted to work and collect the pension he just like us employees put money into the pension

 

[700UW]

The company pays for the IAMNPF, not the employee.

He should contact GLR Tom Regan, he is off of US and is the pension specialist.

 

[The Bagfather]

Actually if you can save the messenger from Jester's cat it has the phone number
of who to contact with your questions.

 

[mopar man]

I talked to a woman from the IAM pension last year and she said as long as the new job is not airline or airport related there is no problem. I'm not a lover of the IAM but the Teamsters have the same deal. A friend of mine worked for a trucking outfit and when he retired from that one he could'nt work at any other outfit driving trucks.