DOL Requested to Investigate Failing Teamster Pension Plans

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Retired Teamsters ask DOL to investigate failing IBT pensions.

Retired Teamsters ask DOL to investigate failing IBT pensions.

A recent article in Forbes reports that retired Teamster members are requesting that the Department of Labor investigate why multi-employer Teamster pension plans are woefully underfunded and is criminal activity the cause.

Teamster retirees are claiming the Teamster-run pension plans could have locked in an eight percent return on assets for 15 years back in 2000 when the plans were overfunded. Now the plans are heading for collapse and so is the retirement security of thousands of Teamster retirees.

“Some Teamsters want answers but aren’t getting them. What caused their pensions to plummet in the past decade,” wrote Forbes reporterTed Siedle. “Was the demise of their pension entirely unforeseeable, due to unknowable market forces or was foul-play involved?”

Read the article here.

 

Transport Workers and Machinist Union to Jointly Represent Ground Workers at the “New” American Airlines

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TWU IAM LogosThe International Association of Machinists and Aerospace Workers (IAM) and the Transport Workers Union of America (TWU) today announced a partnership to jointly represent nearly 30,000 ground workers at the “new” American Airlines following the merger of American Airlines and US Airways.

This week the two international unions have signed joint agreements to cover the Mechanic & Related, Fleet Service, and Stores employee work groups at the soon to be merged airline. The new labor partnership, to be known as the TWU/IAM Employee Association, will ask the federal National Mediation Board (NMB) to hold elections among the combined employees for each classification after the close of the American-US Airways merger.  The election will formalize the joint-council agreement reached this week.

“I am proud that our two great unions put the members first in a true demonstration of solidarity,” said IAM International President Tom Buffenbarger. “These agreements protect our members’ representation, pensions and seniority. Working jointly with the TWU, we will ensure both unions’ members are rewarded in this merger.”

“This agreement allows us to use our combined strength and resources on behalf of all our members as we move forward at the new American Airlines,” said TWU International President James C. Little.  “Both unions have decades of experience representing workers at US Airways and American Airlines and both unions are members of the AFL-CIO.”

Following certification, negotiating committees comprised of an equal number of representatives from each union will begin working out the details of collective bargaining agreements to cover the combined carriers’ employees.

The accords reached this week, designate which union will enforce a post-merger agreement in specific cities, as well as providing a mechanism to designate contract enforcement responsibilities if the carrier expands to new markets.

The IAM currently represents Mechanic and Related, Fleet Service, and Stores employees at US Airways; TWU represents these classifications at American. TWU also currently represents Aircraft Dispatchers, Flight Crew Training Instructors and Flight Simulator Engineers at both airlines. Additionally, IAM represents Maintenance Instructors at US Airways.

The full agreements and a Question and Answer document are available below, and at the Transport Workers Union’s website: www.twu.org.

Click here to view the Q&A.

Airline Mechanic and Related Employee Association TWU-IAM Agreement.

Airline Stores Employee Association TWU-IAM Agreement.

Airline Fleet Service Employee Association TWU-IAM Agreement.

Seniority List Integration Agreement.

TWU-IAM Joint Agreement on Pensions.

 

 

Buffenbarger Says No to Cuts in Earned Pension Benefits

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IAM President Tom Buffenbarger call on the Obama Administration to protect earned pension benefits.

IAM President Tom Buffenbarger calls on the Obama Administration to protect earned pension benefits.

In a letter to President Barack Obama, IAM President Tom Buffenbarger urged the president to help prevent deep cuts to working Americans’ hard-earned pension benefits.

“On behalf of the IAM, I write to express our strong opposition to the proposal being advanced by some in the multi-employer pension community,” wrote Buffenbarger. “Some poorly-run multi-employer plans want to have the ability to slash retirement benefits for existing retirees to 110 percent of the Pension Benefit Guarantee Corporation’s (PBGC) minimum of $1,072.50 per month, which would work out to only about $1,180 per month. For a worker planning on receiving a monthly benefit of $3,613, this would mean a 67 percent cut in promised benefits. A bigger pension would result in an even larger cut. Such an extreme cut is unconscionable.”

The position staked out by IAM stands in stark contrast to that of Teamster President James P. Hoffa. Hoffa and the Teamsters are in lock-step with employers eager to renege on promises made to loyal employees and together are lobbying hard for new legislation to permit the slashing of current retiree benefits, even the benefits of retired Teamsters.

Teamster Boss James Hoffa Jr. supports slashing the benefits of current retirees.

Teamster Boss James Hoffa Jr. supports slashing the benefits of current retirees.

Many Teamster pension plans are in serious financial distress due to poor management and outright corruption and Hoffa Jr. views this legislation as a way out. Sadly, the well-being of retirees are not being considered.

Making note that pensions are not gifts from employers but deferred wages that employees have sacrificed based on the promise of a secure retirement after a lifetime of work, Buffenbarger shared with the president the findings of a recent study by the Pension Rights Center. The poll found that many Americans are extremely concerned about the benefits they rightfully earned and were promised years ago.

“An essential part of the American Dream is a secure retirement after a lifetime of toil,” wrote Buffenbarger. “For many Americans that dream has turned into a nightmare of uncertainty and fear as incomes have stagnated and the number of workers receiving defined benefit pensions has shrunk. Allowing draconian cuts in retirement benefits will not ease these concerns nor provide for a more secure retirement.”

“I respectfully request your support in stopping any proposal that cuts the hard-earned pension benefits of working Americans.”

Click here to read the letter.

Click here to read how the Teamsters support cutting earned retirement benefits.

Machinists Union to US Airways: Contracts First, Merger Second

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The proposed merger of US Airways and American Airlines would create the world's largest carrier.

The proposed merger of US Airways and American Airlines would create the world’s largest carrier.

The International Association of Machinists and Aerospace Workers (IAM) today declared renewed contracts for its US Airways members must be concluded before the IAM is willing to support the merger of US Airways and American Airlines.

“IAM members at US Airways need and deserve contracts now,” said IAM District 141 President Rich Delaney. “The Machinists Union will not allow US Airways to stall our members’ contract negotiations while it devotes its attention to merging with American Airlines. The IAM is prepared to support this merger only if it provides real value to employees.”

“The IAM has been in negotiations with US Airways to amend existing contracts for approximately two years,” said IAM District 142 President Tom Higginbotham.  “US Airways, however, has been more concerned with courting American Airlines than negotiating with its own employees.”

While US Airways and American Airlines today declared their intention to merge, the pairing still faces many obstacles, including  shareholder and regulatory approval.

The IAM is the world’s largest airline union and its Air Transport Districts 141 and 142 represent more than 14,000 Mechanics and Related, Fleet Service, Maintenance Instructors and Stockroom employees at US Airways, making it the largest union at the airline. More information about the Machinists Union and the proposed merger is available at: www.iamdl142.org and www.iam141.org.

 

The Truth About Teamster Representation

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At a recent campaign stop in Charlotte, the rambling Teamster President James Hoffa Jr. criticized the IAM for representing US Airways Mechanics and Related workers poorly.

The truth according to former Teamster-represented, pre-merger America West Mechanic Rick Barnhill is far different from Hoffa’s delusional rant. Please view the below video for the truth regarding the difference between Teamster and IAM representation.

 

 

 

TWU Blasts IBT

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In a show of support and solidarity, the Transport Workers Union of America (TWU) blasted the International Brotherhood of Teamsters (IBT) for raiding the International Association of Machinists and Aerospace Workers (IAM) Mechanics and Related membership at US Airways.

“I’m outraged and disgusted that the Teamsters plan to waste the time and resources of their members in an unprincipled raid against union members at US Airways,” said Air Transport Division Director Garry Drummond. “Let’s call this what it is: The IBT is behaving like a parasite.”

Click on the image below to print the release.

press release IBT Airways

Teamster Raid Endangers US Airways Mechanics’ Pensions

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The International Brotherhood of Teamsters (IBT) today requested the National Mediation Board (NMB) hold a union representation election for Mechanic and Related employees at US Airways.

The Mechanic and Related classification is presently represented by the International Association of Machinists and Aerospace Workers (IAM), which is awaiting an NMB release from stalled contract negotiations with US Airways.

“By seeking an election now, the IBT is threatening the pensions for thousands of US Airways Mechanic and Related personnel and would bring an end to ongoing wage negotiations,” said IAM District 142 President Tom Higginbotham.

“This dumb and dangerous move is designed solely to benefit the IBT at the expense of the workers at US Airways.”

The NMB will determine if the IBT has achieved a sufficient showing of interest among the Mechanic and Related classification at US Airways, which under the law is at least 50 percent of the entire class and craft.

“I am confident that if the NMB holds an election, the IAM will prevail,” said Higginbotham. “Mechanics and Related employees at US Airways stand to lose much with the Teamsters, and will gain nothing.”

The IAM represents US Airways’ Mechanic & Related employees, as well as the carrier’s Fleet Service, Stores and Maintenance Instructors.

IAM, TWU, American Airlines and US Airways Agree on Seniority Integration

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Seniority integration agreement reached.

Seniority integration agreement reached.

The International Association of Machinists and Aerospace Workers (IAM), the Transport Workers Union (TWU), US Airways and American Airlines have entered into an agreement regarding seniority integration.

The parties have agreed to  integrate seniority based on the “date of each employees” entry into the basic classification, as set forth in the existing Collective Bargaining Agreements and the current seniority lists maintained by US Airways for each group.

Click here to read the agreement.