March 17, 2014
By Stephanie West
Washington, DC — The International Association of Machinists and Aerospace Workers (IAM) has concluded discussions with the Board of Trustees of the IAM National Pension Fund (IAMNPF) that will increase pension benefits by 35 to 45 percent for approximately 17,000 IAM members at United Airlines. While United Airlines terminated all employee pensions during its bankruptcy reorganization in 2005, the IAM was able to secure a defined-benefit plan with the IAM National Pension Plan (IAMNPP).
“IAM members at United Airlines are covered by the best pension plan in the airline industry, and that plan just got a whole lot better today,” said IAM General Vice President Sito Pantoja, who credited IAM President Tom Buffenbarger and General Secretary-Treasurer Robert Roach, Jr. as well as the trustees of the IAMNPF for their support and assistance throughout the discussions.
“When combined with improvements contained in the recently ratified contracts at United, the future service pension benefits of IAM members at United will increase by approximately 35 percent this year, and by over 45 percent during the term of the contracts,” said IAM District 141 President and Directing General Chairman Rich Delaney.
The IAM represents approximately 32,000 fleet service, passenger service, and several other categories of workers at United Airlines and is the largest airline union in North America.