from someone whos been down this road at US.. anything positive you might think your going to get out of this will be wiped away when management takes AA into BK.. Your better off letting the
Judge decide what to take out of your contract. they usually just go for money and its for a certain period of time. We were told to take the deal or lose everything.. we took the deal and STILL lOST everything
Good luck to you guys.
Having been through BK let me throw this at you.
Our current agreement has a plan in place where we contribute to a trust fund and our contributions are matched dollar for dollar by the company. Its called Prefunding. Each particiapnt has their own individual accounts in the fund. We start paying into the fund at age 30. When we retire those funds are drawn out and paid to the company in exchange for Retiree medical coverage at no further cost to us as long as we stay in the Standard Plan. It provides us coverage at no further cost for the rest of our lives.
The current agreement states that if the company unilterally terminates the plan they refund both our contributions plus interest and the matching contributions from the company plus interest. If we leave the company on our own or decide to no longer contribute to the plan we forfiet the matching contributions and interest experience.
The company proposal is for the union to agree to terminate payments to the fund, only return Employee Contributions plus interest experience and the company gets to keep all the matching funds which they will use to continue to provide coverage to all current retirees. In other word they want us to give up our money so they can pay their obligations. For the M&R group it comes out to $57 million, the Fleet group would be around the same.
Right now all these funds are sitting in a Trust so they are protected in BK. We would be pulling out all current employees from the fund by agreeing to this and giving the company half the money thats in our accounts.
Would you agree to giving a major concession (on average $5000) from a fund thats currently protected in BK if you thought the company was going to file BK? Would you agree that it would be foolish to agree give up something thats protected in BK even if you were told that by giving it up that it may help the company avoid BK?
By the way , your union let you down, as 700UW said the Judge doesnt pick whats in the deal, he either abrogates it or leaves it in place. The unions should have said no deal and struck as per the RLA. And told the Judges to stick their injunctions where the sun doesnt shine. When the courts came down on you we all should have jumped in. If we dont fight for our rights we lose them, and the courts will be willing to take them if they know we wont fight.
At the end of the day, the fact is your union (and mine) did not want to fight and they convinced us to agree to let them take it all away.
Now my Union is trying to convince members to each give away $5000 thats sitting in a protected trust to a company that, real or not, is setting things up for a BK filing. Go figure? Where are todays Mike Quills, Charlie Bryans and Jimmy Hoffa's (Sr). They are sorely needed.