Pension question for the TWA old-timers

[shon7]

For those that were with TWA, do you recall what the status of the pensions were when Icahn took them over. Were they overfunded?

How did the pensions transition with the American Airlines buyout and did they move you over to the AA plans.

 

[B6Driver]

Reading your past postings, you offer little if anything positive to the boards so no one should answer your question because you only seem to stir the pot. Do your own research.

 

[shon7]

Reading your past postings, you offer little if anything positive to the boards so no one should answer your question

why dont you go complain to your mommy about me and about how mean everyone is to you.

 

[J32driver]

why dont you go complain to your mommy about me and about how mean everyone is to you.

Naw... we'd rather just poke you with a stick when the opportunity presents itself. More entertaining for us that way.

 

[shon7]

Naw... we'd rather just poke you with a stick when the opportunity presents itself. More entertaining for us that way.

I'm sure you'd love to poke me with your stick. Unfortunately, I dont swing that way. But there're many flight attendants you could go after who would oblige.

 

[AC560]

overfunded?

Over funded/under funded is an accounting game. If I say you will die at 60 as opposed to 65 I can make the pension over funded. If it is indexed to the stock market which is up 40% today it is over funded, 2yrs later when the stock market is down it is under funded.

The only people who ever got it right were the Teamsters, they manage their own pension plan and the companies contribute to it.

 

[Full of LUV]

Over funded/under funded is an accounting game. If I say you will die at 60 as opposed to 65 I can make the pension over funded. If it is indexed to the stock market which is up 40% today it is over funded, 2yrs later when the stock market is down it is under funded.

The only people who ever got it right were the Teamsters, they manage their own pension plan and the companies contribute to it.

And even the Feds get in there to muck it up with TAX policy. In 2000 DAL had an overfunded pension due to stock market bubble and company actually asked IRS for waiver to put in more than $1Billion in extra payments (tax exempt of course) but IRS said nada declare your profit and pay uncle sam. Like AC said, funding formula has so many variables from when / how long benes will be paid to return of investments its nearly impossible to determine the correct "funding" required.
LUV

 

[CitationLover]

Over funded/under funded is an accounting game. If I say you will die at 60 as opposed to 65 I can make the pension over funded. If it is indexed to the stock market which is up 40% today it is over funded, 2yrs later when the stock market is down it is under funded.

The only people who ever got it right were the Teamsters, they manage their own pension plan and the companies contribute to it.

So you're 40 now. How would you account for a pension payable at 60?