United Update on Getting a Pension Plan for the Mechanics

One of the Union's top priorities is to secure defined benefit pension benefits and retirement security for the UAL mechanics and related craft and class. The Union's representatives have been advised that although the Pension Benefit Guarantee Corporation (PBGC) will not and cannot restore the UAL defined benefit plans that were terminated during the UAL bankruptcy, the PBGC will not oppose any effort to negotiate UAL into a defined benefit multiemployer pension plan. Having secured this "green light," IBT Chief Negotiator Clacy Griswold and IBT counsel Ed Gleason met with representatives of the Western Conference of Teamsters Pension Trust to discuss the possibility of negotiating UAL into the Fund. The Fund's representatives confirmed the Fund's administrative procedures and benefit structure. The Fund's representatives advised that they would be available to attend "road shows" with the membership to discuss the Fund's structure in greater detail and to answer any questions. Union representatives have also met with the Union's actuaries who are providing expert assistance with respect to the Union's UAL pension project. Finally, Chief Negotiator Griswold has scheduled a meeting of the negotiating committee's pension subcommittee next week. The subcommittee will meet in Denver, Colorado, when contract negotiations resume.