TO HELP IAM751 AND NOW SPEEA UNION MEMBERS WITH PENSION ISSUES

  This Site is mostly links to BA Documents AND others  to aid IAM 751  AND
NOW SPEEA members in decide 
WHAT TO DO BEFORE YOU ALSO GET ROLLED AGAIN !!
    GET SOME OUTSIDE PROFESSIONAL HELP FROM SME REGARDING PENSION AND ERISA AND NEW RULES
        UPDATE MARCH 7  ITEM 20  AND 21 BEING REVISED TO ACCOMODATE NEW BOEING FREEZE ON NON UNION

Who am I ?
A retired BA Engineer who has been involved with Pension Issues at Boeing and elsewhere for over a decade.


    I have seen SPEEA drop the Ball on their last contract re Pension and 401K issues, which no doubt led to the intimidation of the IAM members/offIcers to go a step further and FREEZE the pension
    Due to the insane comments on the Herald and Seattle Times blogs relating to the issue at hand, I am putting up this site to make it easier for those who want to take the time to get informed about all the relevant issues and takeaways.
    So I am providing links to Boeing Documents, IAM documents, and some of my own analysis and comments.  Included are both SPEEA stuff and IAM focused stuff
    With the exception of the SPEEA change to BCERP re new hires no longer participants after March, the IAM and SPEEA BCERP plan Documents are currently the same.
    Few realize the significance of the October 31 2016 date proposed freeze. Hopefully some of my documents and plots will help.
      Please feel free to send links to this site to any/all IAM members or SPEEA members since their turn in this bizzare game is no doubt next.

   Rational  helpful comments and useful links- please send them to   s.publius@gmail.com.  I may include them if reasonable. 
    Obscene and similar comments will be blocked, and if persistant, your IP AND email will be blocked.
                          Don Shuper
++++++

UPDATE JAN 7 - SEE ITEM 21-


    Youve seen the parody re Buffenbarger - right on !   
        http://www.youtube.com/embed/XS0QezyquSA
 
      Now for a bit of SPEEA history in the same vein    . . .   http://www.youtube.com/watch?v=OBi6lKLPvg8

      And about UNION credited service per BCERP

           http://tinyurl.com/UNIONCREDITEDSERVICE





  1)    THE MOST CURRENT BOEING ' BAFO' FOR DEC 2013     NOTE DATE AND WHO TO

        http://www.iamw24.org/text-downloads/proposal.pdf
        
  2)     The IAM751 site     http://www.iam751.org/
  3 ) BOEING BCERP (PENSION PLAN FOR IAM, SPEEA, AND OTHERS       
       
http://www.boeing.com/assets/pdf/companyoffices/empinfo/benefits/pension/spd/spd_58.pdf
 4)  FUNDING STATUS OF BCERP AND OTHER PLANS
              http://active.boeing.com/companyoffices/empinfo/benefits/news/pension_fund_2012.pdf
  5)   BA QUARTERLY EARNINGS
            http://www.boeing.com/boeing/companyoffices/financial/quarterly.page
   6)    BA ANNUAL REPORT
             https://materials.proxyvote.com/Approved/097023/20130301/CMBO_157699/
    7)   BA BENEFITS AND COMPENSATION
            http://www.boeing.com/boeing/companyoffices/empinfo/benefits/index.page

    8)    CURRENT SAVINGS PLAN - WILL THIS BE THE SAME PLAN PROPOSED TO REPLACE BCERP FOR IAM
            http://www.boeing.com/boeing/companyoffices/empinfo/benefits/spds.page

    9)  ANNUAL FUNDING NOTICES
            http://www.boeing.com/boeing/companyoffices/empinfo/benefits/spds.page

    11)    EXAMPLE CALCULATOR(S) WHICH MAY BE OF HELP
               
http://www.moneychimp.com/features/market_cagr.htm  estimating annualized returns- growth
            http://www.irs.gov/irb/2012-05_IRB/ar06.html      SS Covered Compensation for  Alternate Formula BCERP

             http://www.socialsecurity.gov/planners/benefitcalculators.htm      SS benefits calculator
            http://www.socialsecurity.gov/OACT/quickcalc/index.html    GREAT CALCULATOR FOR SS IN FUTURE
            http://www.socialsecurity.gov/planners/    A GOVERNMENT PLANNER




    12)      DOL ON 401K ISSUES            
               
http://www.dol.gov/ebsa/publications/401k_employee.html

     13)  BOEING CASE STILL IN COURT RE EXCESSIVE FEES
                    
http://tinyurl.com/SPANO401KBA
       
    14)   ALTHOUGH AIMED TO SPEEA RE THE  STAFF FUD DURING NEGOTIATIONS, THE MESSAGE OF SCRAP THE CAP
            IS SIMILAR TO THE BOEING FLAPDOODLE.  IT ALSO SHOWS THE SIGNIFICANCE OF THE OCT 31 DATE RE PENSION.
                 http://tinyurl.com/SCRAPCAP2
     
    15)     THE STORY OF JOELUNCHPAIL WAS DONE IN 2008. IT STILL APPLIES
                http://tinyurl.com/JOELUNCHPAIL2

    16)    REGARDING JOBS AND PLANTS AND CONTRACTS IF.... 
                BELOW IS OLD, BUT PERHAPS ITS DEJA VUE AGAIN

            September 6, 2001
     Judge Hands Boeing Defeat in Lawsuit  Brought Over Loss of Retiree Benefits
     By J. LYNN LUNSFORD and ELLEN SCHULTZ
     Staff Reporters of THE WALL STREET JOURNAL
     A U.S. District Court Judge in Tulsa, Okla., handed Boeing Co. a surprising defeat Wednesday in a class-action lawsuit filed in 1994 by more     than 1,000 older McDonnell Douglas Corp. workers.
    The workers alleged that the company closed their plant in order to avoid paying pension,  health and retiree medical      benefits. Judge Sven Erik     Holmes issued a 90-page opinion that found among other things, the company "engaged     in a course of obstruction,  inconsistent  representations and outright   falsehoods" during the course of the lawsuit to      keep the truth from coming out about the 1993 closure of a McDonnell Douglas plant in Tulsa.
 
        The case  can be found at      http://tinyurl.com/BAMILLSAP2001
        Go to page 70-76 and read about J McDonnel. He of course was on BA BOD for many years.  Seems that in 1992  He     and buds claimed they would use the Tulsa Plant IF they got a contract for F-15 from Saudis.  Everyone kissed  . . .              and pushed for the contract.  Then . . .

    17)  AN EXAMPLE OF A GOTCHA IN BCERP RE ALTERNATE FORMULA AND COVERED COMPENSATION AND BONUS
           GOES BACK TO EARLY 90'S AND HAS NEVER BEEN CORRECTED
                   http://tinyurl.com/SISTERSALLYRETIRES


    18)  MY SUGGESTED PENSION CHOICE IF MELDED WITH BCERP BY SUBJECT MATTER EXPERTS- NOT UNION BRASS

            http://tinyurl.com/APENSIONCHOICE

    19 ) 31 DEC 2013 - I'VE MADE AN SPREADSHEET TO HELP ESTIMATE WHAT HAPPENS BETWEEN NOW AND OCT31,2016
           USE AT YOUR 0WN RISK- AND CHECK WITH THE BOEING SYSTEM IF YOU CAN
            NOTE  YOU CANNOT VIEW FILE BUT YOU CAN DOWNLOAD IT AS AN EXCEL SPREADSHEET .xlsx

               

     NOTE :  Goggle docs does not allow for some reason a view of my excel files.  BUT they can be downloaded. Two ways
                           Browser says   ' try  again later "   Look on upper left with down arrow- hover says download current version - click on it
                           Browser says     cannot view -- upper  left under FILE  - down arrow
      

          LET ME KNOW IF YOU HAVE PROBLEMS OR FIND ANY ERRORS      S.PUBLIUS***GMAIL.COM  insert @
                             http://tinyurl.com/BCERPPENSIONESTDEC31

                
    20)   UNDER REVISION  MAR 7 2014
                This spreadsheet can be downloaded and used to compare the Freeze date versus continued to 2016. Inputs are  estimated
     percent increase for alternate benefit, and 5 year average as of march 2012 and credited service as of march 2012.
         Age can be input but does not enter into calculation Your union should have provided this.

          NOTE :  Goggle docs does not allow for some reason a view of my excel files.  BUT they can be downloaded. Two ways
                           Browser says   ' try  again later "   Look on upper left with down arrow- hover says download current version - click on it
                           Browser says     cannot view -- upper  left under FILE  - down arrow
      

                http://tinyurl.com/BCERPPENSIONCOMPARE

    21)  BA layoffs for fun and profit

FOR those who might wonder how BA makes money on pensions when they layoff relative short term employees ( 10 yeas ) I have prepared both a pdf view plot and a spreadsheet which works for 10 years of service ending in 2016 per the IAM ' contract:

It is an close estimate- and is interactive for starting pay, average annual increase, interest on boeing contribution during and after 2016 and pension pay at age 60 ending at age 92 Also the estimated percent contributions by boeing as a percentage of salary.

Anyhow the pdf files which has a link to the spreadsheet which can be downloaded is below

its my version per BCERP of layoffs of newbies for fun and mostly profit - the gift that keeps on giving
 
            http://tinyurl.com/BA-PROFIT-BY-LAYOFF    for the pdf

         http://tinyurl.com/BALAYOFFPROFIT     for the spreadsheet which can be downloaded but not well vieswed on google

        Protection to keep from inadvertant changes - NO password needed to remove

    22)  A COMBINATION OF 5 10 AND 20 EAR EMPLOYEES ( GENERALLY IAM) BUT CONCEPT IS THE SAME

         http://tinyurl.com/FREEZE4PROFIT

         I have put together a 3 page pdf file which shows the profit involved when freezing pensions per BCERP in 2016.  The alternate of course is for an Insurance company to BUY the pensions a bit after the freeze, and guarantee to provide an annuity for the values.    My plots  show typical values for ' sale ' in late 2016-early 2017 for three cases.  A five year employee, a 10 year employee and a 20 yar employee.

    The Sale price shows as  BA CONT W INTEREST.   This is the sum of payments to employee over the 5, 10, or 20 years based on 6 to 7 percent of contributions.  I have run the numbers out to age 92 starting the pensions at age 60 and using spousal benefits.  So either BA could make or breakeven at 2016-207 by selling, and dropping  risk, or keep it and make even more over the years.


















Subpages (1): THE BUFFEY FILES
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