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Author
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Topic: Insurance Information
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XHNLEIC
Post Captain
Member # 1481
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posted
Aloha!
I just received a call from a wife of a TWA Mechanic that passed away and she asked me some questions regarding what to do about his PBGC Pension.
She had no clue so I thought I would post this information so that you can make sure your spouse has the necessary information to make a claim in the event of our demise.
Trust me I was shocked to find out that so many TWA retirees do not know their benefits and when they pass away their spouse is left in the dark.
First of all those who chose the option that their spouse would receive some of their pension here is who they contact.
PBGC
1-800-400-7242
0800 - 1900 Eastern Time
They will ask the employee's name, SS#, DOD etc and then [if benefits are due you] they will send you a letter requesting the Death Certificate and several other forms.
What my friend had absolutely no clue of was that she is also eligible to receive her husband's [meager as it is] life insurance. I think that we ground employee's get a MAXIMUM of $5000.00 and Crew somewhat more. I remember it was based on the years we retired decreasing until it reached the max. Who knows whether the max has dwindled even more.
In any event here is where your beneficiary needs to contact.
MetLife
1-800-440-6081
Group Number 29924
They too will ask pertinent information and if eligible they will send you a claim packet. I believe they also contact American Airlines.
I called to make sure this was all correct before I advised my friend and got a wonderful helpful lady with MetLife. She looked me up and verified that I am covered [although she did not have information of what I was worth...dead!]
I imagine this information is no news to most of you but perhaps we can pass it on to those who completely forgot to pass it on to their spouses [or beneficiaries].
Hopefully we will not need it soon [I for one am going to live a long time to aggravate my kids a few more years].
Take care and Happy Holidays!
Benay
Posts: 166 | From: Laughlin/Bullhead City/Honolulu
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Bob Willcutts
Post Captain
Member # 434
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posted
Benay,
For TWA Pilot Retirees, the Life Insurance was $50,000 reduced by $5,000 per year until bottoming at $20,000 benefit payable upon pilots death. To the best of my knowledge, the minimum benefit should be $20,000.
Bob
Posts: 73 | From: Cabot, VT, USA
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XHNLEIC
Post Captain
Member # 1481
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posted
quote:
Originally posted by Bob Willcutts:
Benay,
For TWA Pilot Retirees, the Life Insurance was $50,000 reduced by $5,000 per year until bottoming at $20,000 benefit payable upon pilots death. To the best of my knowledge, the minimum benefit should be $20,000.
Bob
Bob,
Agents, Mechanics, Ramp [IAM folks] have been reduced to $5,000 to my knowledge. Once upon a time ours was a nice amount to leave our dear ones but ......better than nothing....which could have happened I guess.
Posts: 166 | From: Laughlin/Bullhead City/Honolulu
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Irish
Post Captain
Member # 722
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posted
Benay,
The insurance information is contained in the TWA benefits guide on Jetnet. Here is the situation for mechanics, pax service employees, etc.:
The following term life insurance benefits are extended only to retired TWA Mechanics and Related Employees, TWA Passenger Service Employees and TWA Flight Attendants: If you are a retired Mechanic and Related Employee or Passenger Service Employee and you retired from Trans World Airlines, Inc. or TWA Airlines LLC on or after August 1, 1999, term life insurance in the amount of $20,000 is provided for one year after your retirement. Thereafter, your life insurance is reduced by $2,000 per year until $10,000 is reached. In order to be eligible for the retiree life insurance, you must have worked for Trans World Airlines, Inc. and/or TWA Airlines LLC for 10 or more years and retired on or before age sixty-five (65).
If you are a retired Mechanic and Related Employee or Passenger Service Employee and you retired from Trans World Airlines, Inc. before August 1, 1999, life insurance in the amount of $10,000 is provided for one year after your retirement. Thereafter, your life insurance is reduced $1,000 per year until $5,000 is reached. The eligibility requirements are the same as above.
As far as the PBGC is concerned, I took an unreduced benefit from the A Plan so when I die it dies also. Not to worry, though, as Pauli and I have prepared for that certainty and I plan to outlive her! ![[Eek!]](eek.gif)
Paul
Posts: 1359 | From: Hampton, NH and Naples, FL
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XHNLEIC
Post Captain
Member # 1481
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posted
Paul,
Thanks for that information. Since both Dennis & I retired before Aug, 1999 we are at the $5000.00 max.
That will help me [if Dennis goes first] for one night at the Casino ![[Big Grin]](biggrin.gif)
As for our pension...we also took the full amount so it goes bye bye when we go bye bye.
Take care and Happy Holidays. We are off next week to HNL until Feb
ALOHA!
Benay ![[Cool]](cool.gif)
Posts: 166 | From: Laughlin/Bullhead City/Honolulu
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