Another Year of the IAM National Pension Plan in Critical Status
In April, the IAM National Pension Fund Trustees sent a notice to plan participants informing them that the fund remains in "critical status" for a sixth year (2024).
- When the financial health of pension plans like IAM’s is at risk, benefits can be reduced or eliminated. This happened with the IAM Pension Plan in 2019, as explained in the notice.
- This was not the first time IAM had cut Plan benefits. In fact, today benefits are 40% lower than they were in 2010.
Here are a few other important facts regarding the IAM Pension Plan to keep in mind:
- IAM can’t guarantee Delta employees would participate – the company would have to agree. For example, IAM-represented workers at Alaska, Southwest, and Spirit are not in the plan.
- Even if IAM could negotiate the pension plan at Delta, it would be years before any employee would see any benefits. Employees would not be eligible for benefits for at least five years – and prior service does not count.
- The Department of Labor also sued IAM Pension Fund Trustees (those who run the pension fund) in 2016 for mismanagement of funds.
Get the facts and stay informed about what IAM representation could actually mean for you.
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Stay in the know.
Text DELTA to +1 205 846 8096 for updates*
*By texting the keyword above, you are agreeing to receive periodic SMS text messages from Delta Air Lines regarding One Future. One Delta. Standard messaging and data rates may apply. You may unsubscribe any time by texting “STOP” and the keyword above to +1 205 846 8096. Full Terms.