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TWU Retirement Presentation Revised 8-15-12 (Tentative)

TWU Retirement Presentation Revised 8-15-12 (Tentative) . Chuck Laterza Retirement Specialist 817-553-8809 voice/817-223-7729 cell claterza@twu.org. Benefits based on Company Seniority ( 55 years old & 10 years seniority) .

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TWU Retirement Presentation Revised 8-15-12 (Tentative)

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  1. TWU Retirement Presentation Revised 8-15-12 (Tentative) Chuck Laterza Retirement Specialist 817-553-8809 voice/817-223-7729 cell claterza@twu.org

  2. Benefits based on Company Seniority( 55 years old & 10 years seniority) • Medical (if prefunded, you will need 10 years of prefunding) AA is planning on eliminating prefunding in 2013. You will have only ONE opportunity to enroll in AA Retiree Medical. • Dental -- you can elect Cobra Dental 18 mos for approx 28pp/month for same coverage that you had while you were active • Life Insurance usually $5000 and paid by AA. AA is planning on eliminating in 2013 • Travel Privileges same as now, four o/w D-1, 24 o/w D-3 unlimited D-2’s

  3. Medical Maximums • 5,000,000 Active Medical per person • 300,000 Retiree Standard Medical Plan Age 55-65 Prefunded Plan (Scheduled to become postfunding in 2013 approx cost $461pp) • 1,000,000 Retiree Point of Service Age 55-65 Post Funded Plan • ---------------------------To be eliminated--------------------------------------- • 50,000 Over 65 Standard Plan (Secondary to Medicare) • 500,000 You may/may not have the option of Supplemental Medical (The $500,000 will start when you have exhausted any of the above)

  4. Pensions are based on Credited Service (not seniority) • Download Your Pension Estimate from Jetnet • You can project many different possible dates • If you have problems, call Employee Services 800-447-2000 (prompt 1, then 3) • Review your estimate with a financial advisor • Financial advisors could be a banker, attorney, an accountant, professional financial advisor, the AA Credit Union

  5. Issues to Discuss with Financial Advisor • Understanding your pension estimate • Life Insurance • When to start Social Security • The effects of inflation on your pension • The best options in order to avoid taxes • 401 issues • Alternative Health Insurance • Helping you make the best individual choice for your lifetime (irrevocable) pension decision

  6. Other issues/Questions • 401k—AA freezes your $$ for 60 days when you leave AA. • Company Stock Options • Nursing Home Insurance • If you are married, be sure you have a QPSA on file with Employee Services • 50-55 rule • You will have only ONE opportunity to enroll in AA Retiree Medical • How a “package” will work with your retirement • Contact Employee Services within 90 days of your retirement 800-447-2000 prompt 1 then 3 for paperwork and an appointment • After retirement, you can access your payroll information; you must check your final vc and sick payments are correct https://epays.aa.com • Cash flow (you can expect your first two pension checks 6-8 weeks after your pension start date)

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