Credit Union Iratruste• . 'Ambassador' on Transcons
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VOLUME 44 NUMBER 26 DECEMBER 21, 1981 Credit Union A Time for Reflection .'Ambassador' IRATruste• Dear Fellow Employees: On Transcons As of January 1, 1982~ anyone who earns The Christmas season traditionally is a time for reflection and anticipation, TWA will offer Ambassador Class service wages or professional fees can establish an and aside from its religious significance, a time for the renewal of the spirit .on all of its nonstop transcontinental flights · Individual Retirement Account (IRA), effective January 11, 1982. Ambassador of charity and kindness towards our fellow humari beings. even though he or she is already an active Class service offers extra comfort. and Dedicated as we are .to ~erving others, your countless personal acts of participant in a qualified employer plan. A amenities in a special cabin of the fOrward person can establish and make a contribu courtesy and consideration every day afford us·the privilege of personifying coach section on TW.Ns widebody aircraft. tion _to an IRA account, and have the the meaning of this special se.ason the year around. First class Royal Ambassador and coach contribution count as· a deduction for the None of us can be unaware that you've done so under the pressures of the class cabins remain the same. prior tax year, any time up to his tax filing most severe testing yet faced by our industry. We have shared disappoint Ambassador Class fare will be $15 date (normally Aprill5, but including any ment, but achievement too, and whatever the challenges before us, we above the normal coach fare and include: extension period granted). In other words,. approach the futl,lre with proven strength and conviction. special airport check-in facilities; priority you have until April 15, 1983 to establish -r We have lost the services of many fine TWA people this year, and it is my baggage handling; free headsets; free alco ,an IRA for 1982. Maximum deposits are wish that those of us facing the future will remember and safeguard their holic beverages; choice of four entrees $2,000peryearif single, $2,250 if a wage contributions to that which we have, and that for which we strive. served on china; silverware, linen and glassware; wider seats and roomier cabins. earner with a non-wage-earning spouse, or Merry Christmas and best wishes for the New Year. $4,000 if both husband and wife work. To Most of the 26 lOlls, two 747SPs and set up an IRA you need a trustee which, one 747 aircraft to be used on the new because of strict IRS guidelines, usually domestic service had previous! y been re means a bank, insurance company, mutual configured as part of TW.Ns international fund or brokerage firm, or credit union. Ambassador Class. Members of the TWA Credit U nion'have As a special bonus, TWA will credit years), the PATCO environment has re the option of setting up their retirement Frequent Flight Bonus users with double 'Knowing Where sulted in the FAA's mandating arrival accounts through the Credit Union. Be mileage for flying transcontinental Ambas activity by hour at the 22 busiest airports in cause Credit Union members have until sador Class between January 11 andFebru T·he Money Is' the country. As TWA operates at 18 of these April 15, 1983 to establish an IRA for ¥)'28, 1982. 22 restljcted airports, there were almost no _ 1982, because of severe penalties for The air traffic controller's walkout nearly areas ofTW.Ns schedule pattern which did excess deposits to,. or premature with five months ago and subsequent FAA not need to be adjusted. Thwart Hijacking drawals from, an IRA, and because all mandated schedule reductions have fot:ced "That's very important. The FAA might government regulations and requirements TW.Ns scheduling people (and those of At Cleveland . give you all tl).e slots you asked, for, but if regarding these new IRAs have not yet every other domestic carrier) to make Quick action and good judgment on the three or four are at two o'clock in the been issued, the TWA Credit U!Jion won't drastic schedule adjustments, almost over part of many TWA employees foiled a momitig, they won't do you much good. accept deposits for IRA's until such regula- . nightinsomecases. Theyoftenhaveliad to hijacking at Cleveland on Saturday, De For example," Mac says, "one of our tions have been fmalized and incorporated work literally around the clock. cember 5. The incident began as Flight objectives, since our schedules were se into the Credit Union's operations, or until TWA has a product to sell - air trans 534, a 707, was in the final boarding verely reduced in August, was to reinstate July 1, 1982, whichever shall occur first. ·portation ~ that can't be sold until the process for a 2:25p.m. departure to New schedules are set up and fed into the PARS roundtrip Chicago-Las Vegas nonstop York. A man forced his way past gate agent ThxShelter computer. In addition, points out Colin R service. We were able to retain the west Glenda Scuilli, ran onto the aircraft and Following are answers to - question~ fre-· "Mac" Mackenzie, direct()r-current sched bound service but we couldn't g~t an told startled flight attendant Marilyn King quently asked regarding Credit Union ules, "Many departments in TWA can't (to page B) that "I have a gun and a bomb and this is a IRA's: make definitive future plans Without the TWA to Offer Airfone hijacking!" Q What is a Credit Union IRA? flight sch~dule. The schedule affects cock TWA will offer a new air-to-ground tele The would-be hijacker (later identified A It is a tax sheltered retirement share pit and cabin crew bids, manpower staff phone system in its 1011, 767 and 747SP as GhaziAmra, a naturalized U.S. citizen) savings account, which allows a member to ing, technical services, budgets, dining & aircraft, for use on domestic routes. Air then entered the cockpit and told the flight set aside a portion of his earnings, which, commissary, and many more facets of the · fone, Inc. will provide the telephones to crew he was taking over the airplane. together with the income from such sav airline." TWA; installation is scheduled to begin in ·Meanwhile, Marilyn and fellow flight ings, will not .be taxed until withdrawn, In the face of FAA requirement~ that · the spring of 1982. The system will provide . attendants Phyllis Stafford, Karen Macke which usually will be some time after the TWA reduce its daily operations initial! y by direct dial access from the aircraft to any and Sonya Ridley-Ramos, and agent-in person reaches 59~ years of age. Credit some 30% and adhere to a slot allocation ground telephone number in the continen charge. Penelope Doerrer, -acted quickly Union IRA's will earn dividends at the same system at 22 major airports, how did tal United States through use of a credit and calmly to-get all of the passengers off rate as the member's non-tax-deferred scheduling decide wpat to keep and what to card. Passengers may call from their seats the aircraft within three minutes. share savings account. cut? at a cost of $7.50 for the first three minutes As the last passengers deplaned, Amra Q Who will be eligible· to establish an . "Most importantly," Mac explains, "a and $1 .25 for each additional minute. (topage3) IRA with the Credit Union? · good scheduler knows where the money is. -A Any TWA employer member of the He knows which TWA markets m~e the Christmas Cheer in C~lumbus ...... Credit Union and such member's spouse. most profit, and he's familiar with almost Q How much can be contributed each every flight segment- where and when it year to an IRA to get the maximum tax · operates, with what equipment, and how deduction? well it's doing. As a large segment of our A The lesser of $2,000 ($2,250, if schedule pattern is involved in our St. person has non-working spouse) or 100% Louis connection complex, we did our of compensation (earned income- salary, utmost to retain as high a level of activity as wages, tips, etc.). · possible under what we believed the final _ In the case of a$2,250 contribution, it FAA-allocated hourly levels would be. p:1ay be divided between the employee and Rather than withdraw totally from a city or spousal IR.Ns any way desired, provided market, we tried to limit our cutbacks to ' neither account receives morethan$2,000. service reductions. " · No contribution can be made for the . TWA is again operating at all of the cities tax-year in which contributor becomes ' it was serving before PATCO, except for 70~ years of age nor for any subsequent Albany and Providence which it had been year. planning to drop anyway. Maximum applies to the aggregate of all "Our decisions were based on marketing IR.N s a person has. considerations and the/economic viability Q· When and how may funds be depos of one service versus another. A11 of our ited in a Credit Union IRA? decisions~ how~ver, had to pass the final A Funds may be deposited at any time test ... did TWA have a slot in which to after July 1, 1982 and in any lump sum ·operate? While the concept of slot con This Christmas is the first for the Columbus Ambassadors Club, which officially desired. straints is not entirely new to the industry opened on October 9.