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AFA US Airways MEC E-Line - "Staying Informed" |
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Reduction Explanation for February 1, 2005 Pension Checks Dear Members, Just FYI... There are 19 Flight Attendants who are considered current and future retirees who received a reduction in their February 1 pension checks. Towers-Perrin did an initial actuarial evaluation on certain employees as instructed by the PBGC and these individuals exceeded the maximum guarantee. There may or may not be more retirees who see a reduction in the future. Once the PBGC has their own actuaries review the pensions any retired Flight Attendant who was paid less than they should have will receive back payment in a lump sum form. Any Flight Attendant who was paid more than they should have received will see a reduction of 10% per check. At this time, there is not a time frame when corrections will be made. Teddy MEC President, AFA-CWA |
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