Contact Info For American Petroleum Tankers

Itchy, I am envious as I am a member that is missing the twenty years by a small amount. Everything you said is true! The defined benefit buyout for me I am sure will be pennies on the dollar. We are supposed to find out what it is in April.
Remember elections are this year, so they may throw a number at you to make you smile and to get re- elected then yank it away with some excuse. Wouldn’t be the first time that was done, rember MPB and Dental benefits.
We now have a 40,000,000 dollar surplus in the medical but no pension. It looks like contracts were not negotiated properly.
After reading all the latest currents about donating to the VPAF it looks like members are saying no to this slush fund finally. After all how many awards dinners and cocktail parties can you go to?
Remember the adminstration blames the Pension Protection Act of 2006 for a big part of our pension problems. Why do we want to donate money to the people that ruined our futures?
their interest is not the same as members who got a goose egg.
The President of A M O makes 320,000 dollars a year, matching 401k, huge MPB and now a defined contribution pension big enough to make us all look like we have been collecting cans our whole life. And guess what, we pay for it from our dues, members with no pension are paying for a huge second pension for these guys.

Pensionless, I have had alot of contact with plans and originally with Bethel who wrote me off as " the most ignorant member he has dealt with in 25 years as an AMO official". He inferred I was an idiot because according to him I didn’t understand how anything worked with plans, which is odd since Nickerson couldn’t answer alot of my questions. Many memebers probably think us 20 year guys have it made but unless the IRS comes through we will have to quit our jobs to get anything. The only people who are benefitting are the lump sum members,everyone else is getting screwed to some degree. When Bethel made his announcement for the new plan he said we would get a “40% contribution at no cost to the members”. What he should have said is at no cost to lump sum members, the rest of us have had are pensions frozen, reduced by who knows how much and now based on an actuarial table that assumes we all want to spend 40 years on a ship. How many people would have joined if they knew this way back when. What adds insult to injury is that at a time when the rest of us are being told there is a pension crisis this administration finds a way to bring pension millionaires back into the mix. I’m no math wiz but I do know that the pension pie is only so big and when you bring all these guys that cashed out back into the mix and then favor them with a formula that guarentees them a bigger slice it can only mean then rest of us go hungry. I don’t think it is too late to make some changes but it’s going to take numbers. Personally I can’t believe members aren’t coming out in droves to challenge this. Read the pension SPD. We are getting hosed.

vote out all amo officials that have a buyout or shelved pension in 2010!!!

What does an AMO 3/m make anyway? I’m curious how bad their contracts are.

These are brand new ships with crowley, shouldn’t they be high paying?

You are welcome to PM me if you want to keep it private. Thanks.

Interesting discussion going on here