AFA US Airways MEC E-Line - "Staying Informed"

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2002 Archived - E-Lines

• Conference Call #2 with AFA - Preliminary Review On Retirement Benefits
• Notice of MEC Meeting
• Accessing The Hub
• AFA Local Numbers

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Towers-Perrin Conference Call February 10, 2005

Participants:

AFA: Mary Lou Savage; Ann Tonjes; Julie Tierney 

Discussion: 
Towers-Perrin performed a preliminary review of all retired Flight Attendants in pay status as of January 1, 2005. The review was only to determine those plan participants whose pension benefit exceeds the maximum guarantee dollar limit of category 4 for the Flight Attendants age and form of payment. This determination was made for all retired Flight Attendants in pay status. Reductions in pension benefit at this preliminary stage of review were required for only 19 Flight Attendants. 

These pension payment amounts, those reduced and those not reduced, are estimates only. A Flight Attendant may see an increase or decrease once the final determination of benefits has been determined. This preliminary review did not involve priority category 3 benefit calculations. A more complete determination of asset values in the plans available to pay PC3 benefits to qualifying Flight Attendants must be completed before PC3 benefit calculations can be done.

Towers Perrin estimates that the funding level will be high enough to allow Flight Attendants who were 58 years old and older on February 1, 2005, to receive a PC3 benefit if that benefit, for them, is higher than their PC4 benefit.

The determination of the PC3 benefit requires a three year look back for age, years of service, and earnings. The age of the participant when retired from US Airways is used for applying the early retirement penalty in the Plan itself. 

The May 2000 contract included an enhancement for certain Flight Attendants (2.4% with social security offset subtracted in the formula, or 1.64% without an additional subtraction needed of the social security offset in the formula). The phase-in limitations of the PBGC for benefit enhancements made within 5 years of plan termination are: 20% or $20.00 per month per full calendar year the amendment has been in place. The limitations of 80% or $80 per month (4 years 2000-2004), if applicable will be applied in Category 4.

At present, Flight Attendants who retire February 1 and in the future are not scheduled to have the above-described preliminary pension review performed by Towers-Perrin. However, these Flight Attendants will have a benefit review performed by the PBGC actuaries.

Accessing The Hub:

http://thehub.usairways.com 
Logging in the first time your user name is u0(zero) and your five digit employee number. Your initial password is the first five digits of your social security number. Questions about the Hub? Please contact the EDS Help Desk at 336-744-6000 for assistance. More information can also be found HERE.

AFA Local Numbers
Council 40 PIT 724-695-3329
Council 41 DCA 703-690-6859
Council 69 BOS 781-289-8454
Council 70 PHL 215-492-0840
Council 82 LGA 315-736-3483
Council 89 CLT 704-527-0325

New Hotline Number Toll Free: 866-USA-AFA2
US AIRWAYS Benefits Information 800-872-4780

Reply to Inflight: askinflight@usairways.com

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