Since MEBA appears to be the union with the strongest finances and best pension, it should be the surviving union in the merger. AMO and MMP merge into MEBA and cease to exist.
Obviously, the MEBA defined benefit pension would be kept. A defined benefit pension is one of the most important features of a good union.
If the unions were merged, AMO and MMP members would either need to buy-in to the full MEBA pension, or they would receive smaller pensions. The formulae to merge into the MEBA pension would be complex, but fair. MEBA members would be guaranteed their full pensions, or more. MEBA pension plan would not subsidize former AMO or MMP members, they would only get what they pay in for.
May be the simplest way would be for existing MMP and AMO members to start upon merger as entry level MEBA pension plan members, and keep separately whatever pension, if any, they have accrued in the other union plans.
Example 1: AMO has no defined benefit pension, so the AMO member starts at entry level in the MEBA plan, and keeps whatever is in his AMO 401k.
Example 2: MMP member, if no defined benefit pension plan, starts at entry level in MEBA pension plan, and keep MMP 401k.
Example 3: If MMP has a defined benefit plan, the cash value of the MMP plan gets transferred into the MEBA plan, and the former MMP/new MEBA member starts out in the MEBA plan based upon the cash value that he brought into the plan.
Example 4: existing MMP members start at entry level in the MEBA plan, and just keep their MMP pensions too, they draw from both upon retirement based upon years of service.
Come on, you are smart, experienced guys, the pension plan issues can be resolved, don’t let irrational fears about the pension plan defeat having one union. That just plays right into the hands of the vessels owners.