Originally Posted by 742Dash
(Post 1671830)
Pensions held by a union are not involved in a company bankruptcy. IMO this was ALPA's biggest misstep during deregulation. A lot of people would be a lot better off today if the pensions had been moved to ALPA, and the industry had a union pension plan, rather than leaving them in the hands of the airline CEOs.
How is that Samsung PCD working out for you? Everyone else dumps their paper charts for iPads and we do it differently....blazin' the way. Underfunded, mismanaged pensions aren't worth the paper they are written on. Can you say PBGC? Give me one good reason where pensions beat a 401k, just one? They are inferior in every way. So tied to the Teamsters is a good thing? What if our relationship goes South like it did with ALPA? Let's switch unions...oh, wait my retirement is with the Teamsters...never mind. |
Originally Posted by CandlerKid
(Post 1671825)
Yes, too busy filling out apps! As you know from dealing with our leaders, it's pointless. They are so uneducated on the rest of the industry it's comical. A pension? Seriously? Let me guess, it's to help the senior guys who have saved nothing up to this point? If they cave on the gateway I'll lose all remaining hope for this place. All they do is help the company and give them flexibility while life on the line gets crappier by the day.
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Originally Posted by Tanker-driver
(Post 1671835)
What is the company giving us for the backup gateway travel relief? The pension? Do we get to vote on this at some point?
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Originally Posted by JonnyKnoxville
(Post 1671838)
I would rather manage my own retirement than leave it in the hands of the Teamsters or Atlas. The industry standard is 16% of your wages being put into a 401k by your company and what do we do? Go the other direction.
How is that Samsung PCD working out for you? Everyone else dumps their paper charts for iPads and we do it differently....blazin' the way. Underfunded, mismanaged pensions aren't worth the paper they are written on. Can you say PBGC? Give me one good reason where pensions beat a 401k, just one? They are inferior in every way. So tied to the Teamsters is a good thing? What if our relationship goes South like it did with ALPA? Let's switch unions...oh, wait my retirement is with the Teamsters...never mind. I was simply pointing out that the issue that you raised, the company tanking and taking the pension with it, would not be the case in our situation. And in any case there is no point in getting wrapped around the axle until the facts are on the table. |
For a good laugh, google the Teamsters pension plan and look at the news stories on it. Predicted to run out of money in 10 years... Maybe we can work 19 days to get in on that!
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Originally Posted by 742Dash
(Post 1671850)
I also prefer defined contribution systems -- ideally with access to single payment life annuities at institutional rates.
I was simply pointing out that the issue that you raised, the company tanking and taking the pension with it, would not be the case in our situation. And in any case there is no point in getting wrapped around the axle until the facts are on the table. |
Originally Posted by CandlerKid
(Post 1671860)
For a good laugh, google the Teamsters pension plan and look at the news stories on it. Predicted to run out of money in 10 years... Maybe we can work 19 days to get in on that!
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Atlas Air Hiring
http://teamster.org/content/our-pension
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Originally Posted by JonnyKnoxville
(Post 1671866)
With this group, once it is announced, it will be too late and that is by design.
If this happens then I'll have to factor my yearly retirement from Atlas/Teamsters at $0.00 a year.... That's if this is true and I KNOW Knoxville is closely connected to this issue. |
True or not. You can bet the whole Enchilada that anything this leadership does will benefit them and senior Check Airman the most.
This next EXCO election is going to be huge. ABK! |
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