By: Jay potter,
Recording Secretary
Equity Has Finally Arrived
Why is the International using two (2) distributions for our equity?
- The International has been advised to distribute the equity in two (2) distributions. The first distribution will be approximately $55M, the second distribution will be approximately $30M from the funds along with the expected refund from the IRS in the amount of $6.1M.
- It would be problematic for the International to distribute approximately $85M now. This would leave approximately $6.1M for the second distribution.
- When using the formula to calculate how much every member receives using only $6.1M, members who receive smaller amounts due to their pay and seniority could receive a fraction of a dollar or less. All of our members who received shares during the first rounds of distribution, deserve their full share of the entire approximate $91M.
When should you expect your checks?
- Our understanding is the checks will be mailed out from June 11 – June 22, 2018 for the first distribution.
- We still don’t know when the second distribution checks will be mailed out. The International is waiting on the refund check from the IRS. We will update as we receive new information.
Will the formula for distribution be the same as before?
- Yes, with one exception, we are told the B757 portion has been paid in full. The remaining categories will be: Pension, Scope, Me Too, and Health
How much will I receive?
- The first distribution is now posted in your Computershare account Https://Computershare.com/aal HERE .
- Computershare Access information
- There are forgot userid and forgot password reset prompts on the Computershare login page. If you are still unable to login, you’ll have to call Computershare
- If this is your first time to log in, your global identifier is your social security number and your PIN is the one provided to you by Computershare.
- If you don’t remember your PIN/password, call Computershare so they can reset it for you. They can be reached at 1-888-608-2588 (domestic) and 1-781-575-4351 (international). Press “0” or say “representative” three times to be connected with a member of the team who can help you.
I hope this helps to clarify some of your questions. If you have any further questions, please feel free to reach me at (918) 845-8059 or email at Jpotter@twumail.org.
Fraternally,
Jay Potter
Recording Secretary, Local 514