HERE’S WHAT YOU COULD HAVE WITH A UNION, A CONTRACT AND THE IAM PENSION
If you ever wondered what an airline pension looks like, here’s what the IAM has negotiated for the Fleet (Ramp) workers at United Airlines:
Under the current (2016-2021) contract between the IAM and United, for each ramp worker the company makes an hourly contribution into the pension of $1.75. The numbers in the chart reflect the monthly pension benefit for the associated years of service in the plan, assuming a conservative annual hourly contribution increase of $.05. There is no penalty after 30 years of service regardless of age, no penalty after 20 years at age 62, no penalty after 5 years of service at age 65. Currently it takes 5 years to be vested.
TO VIEW AN ESTIMATE OF A PERSONALIZED PENSION, CLICK HERE
(Use $1.75/hr. as a contribution amount)