AMRRC, Inc. American Airlines Retirees Committee
SOCIAL SECURITY COST OF LIVING ADJUSTMENT
COLA - 2020
A cost of living adjustment (COLA) will increase Social Security benefits by 1.6% in 2020, an average of about $24 per month for individuals.
The COLA will boost the average Social Security retirement benefit
for a single person by $288 per year.
LAA AND LUS PENSION PLAN INFORMATION & LIFE INSURANCE
PENSION FUNDING NOTICES
ANNUAL PENSION FUNDING NOTICES
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If you qualify (vested) in an AA Pension Plan,
ensure that AA has your correct and current mailing address on file.
ANNUAL PENSION FUNDING NOTICES
are mailed annually in April.
QUESTIONS ABOUT PENSIONS
QUESTIONS ABOUT PENSION PLANS
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If you need to inquire about the details of your AA Pension Plan -
Call (800) 447-2000
Select (2) for the Retirees Menu,
then follow the Prompts to Pensions.
LUS will be directed to the PBGC.
PILOTS are directed to their specific area.
All Other Retirees; LAA, AMS, FA, TWU
will be directed to AA's Pension Administrator.
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EMAIL ASSISTANCE for Pensions
TAX INFORMATION CHANGES
UPDATES TO CHANGE OF RESIDENCE
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If you are receiving an American Airlines pension and you change your state of
residence, you may need to make changes to your state withholding allowance.
You can make this change through the
AA Pension Service Center
(800) 447-2000
For the Pilot Pension Plan you will need to make the tax change by email.
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HR Services – State Street Bank
1-844-543-5747
1-888-548-4455
1-800 447 2000
To Contact State Street Bank (Directly)
617-985-1662
2019 CONTRIBUTIONS
10-K FILING
American Airlines Group Inc.,
expects to contribute $807 million
to its pension plans in 2019.
ALLOCATIONS
The discount rate used to calculate benefit obligations was 4.4% as of Dec. 31, 2018 up from 3.8% as of Dec. 31, 2017.
As of Dec. 31, 2018 the pension plans
had an allocation of 59.3% equities,
23.7% fixed income, 16.3% alternatives,
0.5% dividend and interest receivable,
and the remainder in cash and the net amount due to/from brokers for the sale of securities.
ASSETS & OBLIGATIONS
2019 CONTRIBUTIONS
Of the $807 million, $786 million is required and the remaining $21 million
is discretionary.
2018 CONTRIBUTIONS
The company contributed $467 million
to its pension plans in 2018.
ASSETS
As of Dec. 31, 2018, AA had $10.1 billion in total defined benefit assets.
OBLIGATIONS
As of Dec. 31, 2018, AA had $16.4 billion in benefit obligations for a funding ratio of 61.6%, down from 62.4% at the end of 2017.
U.S. - vs - INTERNATIONAL PENSIONS
The 10-K filed did not provide a breakout
of U.S. vs. international pension plans.
RETIREE LIFE INSURANCE
AA Benefits Service Center 1-888-860-6178 (MON-FRI) 9 a.m. - 6 p.m. (CT)
LEGACY AA RETIREES
who retired on or before November 1, 2012 (date of bankruptcy filing) are eligible for Retiree Life Insurance.
The amount of eligible life insurance may
vary based on your retirement date, work group, union or non-union, and other factors.
Those who retired after 11/01/12, do not have a continuation of their company life insurance.
It important that your personal contact and BENEFICIARY information is up-to-date with AA. Otherwise, payment of the life insurance benefit will NOT be made at the time of the retiree's death.