US Air mechanic's pension is 143.00 per month/per year

[wrencher]

Hope for a merger these guys are well above us as far a pension and retire medical. Read page 89 of the US Air Iam contract.

 

[CMH_GSE]

From page 89:

$1.60 per hour effective May 5, 2008, and $2.00 per hour
effective January 3, 2011 for all Planners, Technical

Documentation Specialists, Mechanics and higher classifications

in accordance with plan rules.


I was wondering exactly what that meant.

 

[wrencher]

According to the IAM pension chart it equates to 143.00 per month per year of servce.

 

[CMH_GSE]

According to the IAM pension chart it equates to 143.00 per month per year of servce.

If that is in fact what it is , it would be the best pension in the industry.
$4290 per month as a 30 year mechanic, that blows away what we had with TWU.

 

[787nightmare]

If that is in fact what it is , it would be the best pension in the industry.
$4290 per month as a 30 year mechanic, that blows away what we had with TWU.

That's even better than theBoeing formula-if true.
Hard to believe....hmm

 

[delldude]

I left in '05 and they stuck PBGC up our butt then. There was talk of going IAM National Pension after the last BK then and from what I'm told now, that is what they have.
You have to be IAM for one thing and there was issues with time in the fund that had to be met.
I wouldn't get excited that you'd get this benefit overnite. Like I said, then there was issues with being in the fund.

 

[xUT]

I left in '05 and they stuck PBGC up our butt then. There was talk of going IAM National Pension after the last BK then and from what I'm told now, that is what they have.
You have to be IAM for one thing and there was issues with time in the fund that had to be met.
I wouldn't get excited that you'd get this benefit overnite. Like I said, then there was issues with being in the fund for a time period that had to be met.

IIRC, UAL IAM stores went into the IAM pension fund. IIRC 1st year doesn't count and need a five year vestment period.
No 5 years, no moola...
Don't know what the deal is at USAir but it would probably be similar.
B) xUT

 

[mike33]

According to the IAM pension chart it equates to 143.00 per month per year of servce.

Read the fine print though....i believe that it could be applied from the time the iam was here at US. Were the mechanics IAM for your 30 yrs? But most important were you the individual in the aim for those 30 yrs?

 

[MCI transplant]

Your credit for your retirement would start on day of merger. It would not be retroactive. Just like AA did to us!(TWA) But,good news is, it's better than the screwing you're geting now!!! And, are they in the IAM fund, or is it the USairways retirement? There is a differance!

 

[xUT]

Your credit for your retirement would start on day of merger. It would not be retroactive. Just like AA did to us!(TWA) But,good news is, it's better than the screwing you're geting now!!! And, are they in the IAM fund, or is it the USairways retirement? There is a differance!

I doubt it. TWU could be the predominant union in a merger.
Even if the IAM was the successor, the contract would have to include the IAM pension fund.
IIRC, USAir and UAL gave up a 401K match, and profit sharing to be in the IAM plan.
It's all still contractual/negotiable.
B) xUT

 

[BoeingBoy]

IIRC, UAL IAM stores went into the IAM pension fund. IIRC 1st year doesn't count and need a five year vestment period.
No 5 years, no moola...

5 years is a pretty standard vesting period but I have no idea if it applies to the IAM manageded pension.

Jim

 

[AA-MRO.COM]

I doubt it. TWU could be the predominant union in a merger.
Even if the IAM was the successor, the contract would have to include the IAM pension fund.
IIRC, USAir and UAL gave up a 401K match, and profit sharing to be in the IAM plan.
It's all still contractual/negotiable.
B) xUT

With all the twu hatred here I see the IAM as the victor in a representational election. We have already started signing IAM cards myself included

 

[delldude]

IIRC, UAL IAM stores went into the IAM pension fund. IIRC 1st year doesn't count and need a five year vestment period.
No 5 years, no moola...
Don't know what the deal is at USAir but it would probably be similar.
B) xUT

UAIr pension was turned over to PBGC and apparently those still working will draw on that plus the IAM plan with years under its plan.

From what I was just told, its a split between a PBGC pension and the UAIr IAM National pension of about $1400 PBGC and IAM Pension $1500 retiring around 2024 with some 16 years in the IAM pension and some 25-30 years service I'm guessing at the moment.
Like I said before, its complicated and you can't expect to jump in to the IAM plan and get 4300.
I get more I will post it.

 

[MCI transplant]

I doubt it. TWU could be the predominant union in a merger.
Even if the IAM was the successor, the contract would have to include the IAM pension fund.
IIRC, USAir and UAL gave up a 401K match, and profit sharing to be in the IAM plan.
It's all still contractual/negotiable.
B) xUT

TWU predominate?---- I wouldn't count on it! "If" there is an election, do you really feel there would be enough votes on the AA side alone, to carry the TWU? You have to realise, that TUL wouldn't necessarily be he ones calling the shotes here. The line stations, plus USairways people, just might turn things arround!---- As for your pensions, let's just say that you'de be way better off than what your looking at now!!! Or should I say six, to ten years, down the road, if this LBO pass! "contractal"? What contract would that be? The TWU's? The IAM's? But that says you have to be "vested" in that plan! How do you do that? You have to have worked five years under a IAM contract! ----- Negotiable? Good luck on that one! You'll be lucky to get your seniority. Which under the IAM, you probibly will. That's more than you gave us (TWA)!

 

[xUT]

TWU predominate?---- I wouldn't count on it! "If" there is an election, do you really feel there would be enough votes on the AA side alone, to carry the TWU? You have to realise, that TUL wouldn't necessarily be he ones calling the shotes here. The line stations, plus USairways people, just might turn things arround!---- As for your pensions, let's just say that you'de be way better off than what your looking at now!!! Or should I say six, to ten years, down the road, if this LBO pass! "contractal"? What contract would that be? The TWU's? The IAM's? But that says you have to be "vested" in that plan! How do you do that? You have to have worked five years under a IAM contract! ----- Negotiable? Good luck on that one! You'll be lucky to get your seniority. Which under the IAM, you probibly will. That's more than you gave us (TWA)!

I don't work for AA. Retired from UA, now getting PBGC cheese (checks from State Street).
Just stating that IAM retirement is not a 'given' and has to be negotiated and vested.
Reamsters promised an immediate 5 year boost in vesting for the UA guys if they voted in the Reamsters. Of course, that never came to fruition.
Y’All be careful out there as the lions are looking for more sheep…
Take Care,
B) xUT