Originally Posted by
satpak77
Silly question but if and when AA resumes hiring, are the new hires faced with the "revised retirement program" at AA, as described above
This is truly misleading information! While not weighing in on negotiations, the retirement is as follows:
1. The LFBO was 14 percent to the new DC plan (no pilot matching required). The A-Fund (DB Plan) is frozen with benefits earned through October 31, 2012
2. The term sheet has the DC plan at 13.5 percent and the A-fund frozen
3. The Company and the APA are in negotiations and the retirement will kick in effective November 1, 2012 once a consensual agreement is approved and ratified.
So what's the status of the A and B funds?
1. A Fund will be received as an annual annuity at retirement based on the accumulated benefit as of October 31, 2012
2. B Fund will be either rolled over into the pilot's 401k, another retirement account of the pilot's choosing or distributed personally to the pilot in May 2013 all based on the benefit accumulated through November 30, 2012. (Additionally, 5.5 perent will be added to the value of the Pilot's B fund prior to distribution).
While there a ways to go to get this thing done, posting misleading information serves no purpose except to be inflammatory.