BULLETIN L.L. 1726
LOCAL LODGE 1726 Regular meetings, Executive Board meetings and Voting
To be held at the union hall 830 Saratoga St. East Boston, MA 02128
Tuesday JUN 111:00 P.M. Executive Board Meeting
2:00 P.M. Regular Meeting(2nd Tue)
TuesdayJUN 257:15 A.M. 2ND Meeting(4th Tue)
IAM NATIONAL PENSION PLAN:
The IAM National Pension Plan has sent some information to our membership on potential changes to the plan. There have been rumors, speculation and many concerns to the status of the plan. Every member needs to get solid facts to plan for their own individual retirement. The best place to get informed is the National Pension Fund Website.www.iamnpf.org orwww.iambfo.org
AMERICAN AIRLINES NEGOTIATIONS:
American Airlines is going through some challenging times with their contract negotiations. You find information about their fight and follow the process on http://www.usaamerger.com “The Association”
2019 BYLAW CHANGES:
There will be a Bylaw proposal reading and then vote at the JUNE 11 meeting. All accepted changes will be submitted to the Grand Lodge for adoption.
GUIDE DOGS CHARITABLE BOWLING EVENT:
Save the DateJune 4, 2019 3-7 P.M.
Local Lodge 1726 has now set a date for our 4th Annual Guide Dogs of America “Pins for Pups”. We will be conducting our fund raising event at the Town Line Luxury Lanes, Malden MA.
*** Please see the attached flyer or your union representative, for registration, donation or raffles. ***
**POST ON ALL IAM BULLETIN BOARDS**
******** GO TO __IAM1726.ORG *** TO GET THE MOST UP TO DATE INFORMATION ABOUT YOUR LOCAL, SCHOLARSHIPS, CONTESTS, CURRENT EVENTS AND COMMITTEES****************
The IAMAW and IAM District 141 are separate entities than the IAM National Pension Plan (NPP), even though both bear the “IAM” acronym. For those DL 141 IAM represented employees in the NPP, a letter was sent to your homes by the NPP. If you haven’t already received the letter, you will soon. The letter outlines changes that the NPP’s Board of Trustees have decided are necessary to maintain the long term stability of the NPP. IAM District 141 received the information contained in the letter on Friday, April 26, 2019.
Unfortunately, United Airlines attempted to blame District 141 today for the NPP dropping the ball in communicating these changes and stated: “we [United Airlines] were not informed by the IAM in advance.” The NPP, of which United Airlines management has a representative on the NPP Board of Trustees, David Lieb, failed to inform United Airlines in advance. The NPP also failed to inform the IAM’s largest district, IAM District 141, a district with the most active NPP participants, in advance. United’s weak attempt to shift blame and the NPP’s botched rollout of the modifications to our pension plan are BOTH completely unacceptable.
While the NPP remains well funded at 89%, in 2019, it has been certified in the Yellow Zone. The major reason for this is that the liabilities of the plan outweigh the assets, in the long term, and the NPP’s Board of Trustees decided changes are needed to fix this unsustainable condition. Because of this, the Board of Trustees have voluntarily reclassified the plan to be in the Red Zone, so that the Trustees can make changes to ensure the long term stability of the plan, per federal law.
It is not IAM District 141’s responsibility to notify United Airlines of modifications to the NPP. That responsibility falls squarely on the NPP, and more specifically United’s Board of Trustees representative, David Lieb. After all, Mr. Lieb had to approve of the changes to the NPP.
You can be assured that District 141 will do everything in its power to make sure all IAM represented NPP participants receive all the information there is pertaining this matter.
There is a lot of complex information included in the NPP mailings. There is a toll free telephone number 1-866-232-1296 and a website http://www.IAMBFO.org set up to give everyone more information.
Michael G. Klemm
President and Directing General Chairman I.A.M.A.W. District Lodge 141