Day | Stable Value | Value Stock | Equity Index | Growth Stock | Intl. Stock | Div. Small Co. Stock | Conserv. Portfolio | Moderate Portfolio | Aggressive Portfolio | Retirement Portfolio |
---|---|---|---|---|---|---|---|---|---|---|
01 | 164.23 | 323.03 | 310.99 | 289.58 | 218.50 | 318.33 | 212.14 | 250.23 | 261.57 | – |
04 | 164.33 | 324.18 | 312.62 | 290.39 | 218.97 | 320.40 | 212.62 | 250.98 | 262.51 | – |
05 | 164.40 | 328.84 | 317.20 | 295.59 | 220.59 | 325.15 | 213.99 | 253.50 | 265.55 | – |
06 | 164.43 | 325.28 | 314.04 | 292.87 | 219.65 | 323.14 | 213.05 | 252.02 | 263.81 | – |
07 | 164.43 | 326.15 | 315.87 | 295.50 | 220.04 | 325.65 | 213.44 | 252.97 | 265.02 | – |
08 | 164.43 | 323.54 | 312.82 | 291.61 | 220.21 | 323.39 | 212.63 | 251.57 | 263.39 | – |
11 | 164.54 | 320.54 | 309.77 | 287.82 | 217.32 | 320.54 | 211.85 | 249.85 | 261.14 | – |
12 | 164.61 | 320.33 | 310.07 | 288.21 | 214.92 | 320.62 | 211.91 | 249.72 | 260.85 | – |
13 | 164.64 | 317.80 | 306.81 | 283.72 | 215.90 | 319.04 | 211.09 | 248.39 | 259.38 | – |
14 | 164.69 | 310.82 | 300.91 | 277.02 | 214.84 | 312.38 | 209.29 | 245.21 | 255.44 | – |
15 | 164.71 | 310.66 | 299.68 | 275.74 | 213.40 | 310.51 | 209.10 | 244.58 | 254.53 | – |
18 | 164.78 | 308.95 | 297.75 | 273.28 | 211.31 | 307.04 | 208.63 | 244.40 | 253.94 | – |
19 | 164.82 | 310.03 | 298.36 | 273.83 | 210.60 | 306.13 | 208.90 | 243.45 | 252.79 | – |
20 | 164.87 | 312.67 | 301.41 | 277.46 | 209.85 | 308.74 | 209.76 | 244.83 | 254.38 | – |
21 | 164.91 | 316.66 | 304.37 | 279.90 | 210.68 | 310.40 | 210.78 | 246.26 | 256.05 | – |
22 | 164.98 | 312.70 | 301.42 | 277.50 | 211.31 | 307.01 | 209.84 | 244.86 | 254.34 | – |
25 | 165.05 | 311.11 | 299.79 | 276.01 | 211.43 | 305.96 | 209.44 | 244.22 | 253.58 | – |
26 | 165.03 | 311.05 | 299.79 | 275.25 | 209.62 | 308.30 | 209.41 | 244.16 | 253.59 | – |
27 | 165.04 | 310.56 | 299.07 | 274.71 | 209.14 | 309.83 | 209.24 | 244.06 | 253.58 | – |
28 | 165.00 | 314.42 | 302.74 | 277.82 | 208.33 | 313.20 | 210.29 | 245.62 | 255.43 | – |
29 | 165.01 | 316.14 | 303.86 | 279.02 | 210.58 | 318.28 | 210.71 | 246.85 | 257.26 | – |
June Fund Performance (in percentages) | ||||||||||
0.50% | -1.72% | -1.78% | -2.98% | -3.50% | 0.96% | -0.46% | -0.96% | -1.17% | – |
Author Archive
June 2001
Friday, June 22nd, 2001Manager Change
Friday, June 1st, 2001The MFS Institutional Mid Cap Growth Fund was terminated on 5/27/03 with the assets being reallocated to the Growth Stock Option as follows:
Turner Mid Cap Growth | 20% |
TCW Galileo Select Equity I | 20% |
Marsico Focus | 20% |
BGI – Growth Index | 40% |
Total | 100% |
Termination was due to poor performance in a down-market, and relative under-performance in a recovering up-market. A new manager search is underway for an addition to this option.
2001 May
Monday, May 28th, 2001Fixed Income | Large Cap Value |
Large Cap Growth |
Foreign | Small Company |
Portfolio | |
Morningstar Averages for the Universe |
n/a | -0.80% | -7.50% | -9.34% | -0.64% | n/a |
Stable Value Option |
2.74% | |||||
Wellington Core |
3.64% | |||||
PRIMCO GIC |
2.59% | |||||
Cash | 2.26% | |||||
BGI – Stable Value Index |
2.29% | |||||
Benchmark – LB 1-3yr. Govt./Treas. |
3.67% | |||||
Equity Index Option (BGI US Equity Index) |
-4.25% | |||||
Benchmark – Wilshire 5000 |
-4.18% | |||||
Value Stock Option |
2.65% | |||||
Federated Stock Trust | 5.27% | |||||
Morgan Core (Separately Managed) |
-1.76% | |||||
Neuberger Berman Focus Tr | 4.98% | |||||
Legg Mason Spec. Inv. Trust |
10.34% | |||||
Neuberger Berman Regency | -0.51% | |||||
T. Rowe Price Value | 7.83% | |||||
BGI – Value Index | -2.80% | |||||
Benchmark – Russell Price Driven (1000 Value) |
0.98% | |||||
Growth Stock Option |
-11.47% | |||||
MFS Instl. Mid Cap Growth | -3.54% | |||||
Turner Mid Cap Growth | -16.18% | |||||
Janus Fund | -7.75% | |||||
MFS Instl. Research Fund | -9.75% | |||||
Marsico Focus | -12.54% | |||||
Vanguard World US Growth | -21.23% | |||||
BGI -Growth Index | -10.12% | |||||
Benchmark – Russell Earnings Growth (1000 Growth) |
-12.20% | |||||
International Stock Option |
-11.38% | |||||
Amer Cent-20th Cent. Int’l Discovery |
-9.85% | |||||
Amer Cent-20th Cent. Int’l Growth |
-16.47% | |||||
Janus Overseas | -11.42% | |||||
Templeton Instl. Foreign | -4.66% | |||||
Benchmark – EAFE Net DIvs | -10.97% | |||||
Diversified Small Company Stock Option |
6.55% | |||||
MFS Instl. Emerging Equities | -0.71% | |||||
Royce Opportunity | 18.25% | |||||
DFA US 9-10 Micro Cap Portfolio | 18.46% | |||||
State Street Aurora | 15.37% | |||||
Berger Small Cap Value Instl. | 11.62% | |||||
Franklin Small Cap Growth II | 0.00% | |||||
BGI – Small Company Index | -2.62% | |||||
Benchmark – Russell 2000 Total |
3.29% | |||||
Conservative Model Portfolio |
2.00% | |||||
Benchmark – Conservative Composite Index |
1.56% | |||||
Moderate Model Portfolio |
-0.63% | |||||
Benchmark – Moderate Composite Index |
-1.80% | |||||
Aggressive Model Portfolio |
-0.95% | |||||
Benchmark – Aggressive Composite Index |
-2.56% | |||||
May 2001
Tuesday, May 22nd, 2001Day | Stable Value | Value Stock | Equity Index | Growth Stock | Intl. Stock | Div. Small Co. Stock | Conserv. Portfolio | Moderate Portfolio | Aggressive Portfolio | TWA Stock |
---|---|---|---|---|---|---|---|---|---|---|
01 | 163.36 | 319.88 | 310.89 | 293.10 | 223.14 | 309.79 | 211.04 | 249.50 | 260.43 | 0.40 |
02 | 163.39 | 320.58 | 311.60 | 294.77 | 224.05 | 311.42 | 211.26 | 250.16 | 261.40 | 0.40 |
03 | 163.47 | 316.21 | 306.91 | 288.94 | 222.08 | 307.63 | 210.02 | 247.73 | 258.47 | 0.40 |
04 | 163.51 | 320.02 | 310.99 | 292.93 | 222.62 | 310.47 | 211.19 | 249.61 | 260.63 | 0.40 |
07 | 163.59 | 319.15 | 309.87 | 291.14 | 223.35 | 310.19 | 210.96 | 249.20 | 260.22 | 0.40 |
08 | 163.62 | 318.87 | 309.66 | 291.48 | 222.38 | 311.19 | 210.91 | 249.20 | 260.24 | 0.40 |
09 | 163.68 | 317.80 | 308.34 | 289.56 | 221.18 | 310.66 | 210.61 | 248.51 | 259.40 | 0.40 |
10 | 163.65 | 318.40 | 308.24 | 288.53 | 222.43 | 311.08 | 210.65 | 248.57 | 259.60 | 0.40 |
11 | 163.56 | 316.34 | 305.90 | 285.83 | 221.16 | 309.23 | 209.96 | 247.31 | 258.11 | 0.40 |
14 | 163.67 | 316.90 | 306.30 | 285.34 | 219.06 | 309.00 | 210.18 | 247.20 | 257.81 | 0.40 |
15 | 163.68 | 318.27 | 306.71 | 285.87 | 221.09 | 310.94 | 210.44 | 247.88 | 258.81 | 0.40 |
16 | 163.73 | 326.70 | 315.16 | 295.07 | 221.94 | 316.11 | 212.89 | 251.85 | 263.31 | 0.40 |
17 | 163.77 | 328.17 | 316.89 | 298.20 | 224.99 | 320.17 | 213.38 | 253.38 | 265.39 | 0.40 |
18 | 163.81 | 328.89 | 317.71 | 299.10 | 225.93 | 321.97 | 213.63 | 253.97 | 266.20 | 0.40 |
21 | 163.89 | 334.73 | 323.61 | 307.20 | 227.50 | 328.53 | 215.38 | 257.35 | 270.28 | 0.07 |
22 | 163.93 | 334.58 | 323.11 | 306.36 | 227.03 | 329.16 | 215.31 | 257.18 | 270.13 | 0.00 |
23 | 163.96 | 328.62 | 317.61 | 299.24 | 225.35 | 323.42 | 213.69 | 254.10 | 266.39 | 0.00 |
24 | 163.93 | 329.62 | 318.83 | 300.50 | 224.81 | 324.17 | 213.99 | 254.56 | 266.89 | 0.00 |
25 | 163.96 | 326.75 | 315.57 | 296.69 | 223.81 | 323.21 | 213.13 | 253.09 | 265.26 | 0.00 |
28 | Market Holiday | |||||||||
29 | 164.07 | 324.03 | 312.41 | 291.63 | 222.79 | 319.44 | 212.37 | 251.25 | 263.01 | 0.00 |
30 | 164.10 | 318.75 | 307.12 | 285.27 | 219.55 | 313.37 | 210.87 | 248.17 | 259.16 | 0.00 |
31 | 164.19 | 321.68 | 309.36 | 287.58 | 218.22 | 315.26 | 211.68 | 249.24 | 260.30 | 0.00 |
May Fund Performance (in percentages) | ||||||||||
0.54% | 1.68% | 0.86% | -0.33% | -1.55% | 2.71% | 0.85% | 0.71% | 0.86% | n/a |
Questions & Answers
Monday, May 21st, 2001Is there a way I can view all the expense ratios for each DAP/401k fund choice?
No, each option NAV is charged about 10 basis points annually for Trust,Record keeping,Administration and Communication. Above that it would depend on which option because of the managers within that option. The Equity Index Option for example would be 10 basis points plus 9 basis points for investment management. The Growth Option would be 10 basis points plus the expense ratio for each of the managers we use in that option. Expenses are subtracted prior to performance each day when computing the NAV. Research on each fund would give you the expense ratio. We do not use that number since it is already factored into the NAV of the mutual fund when we value our options.
Do we get a discount on the Fidelity funds expenses when we use the window?
No but you do have access to some load funds without paying the sales charge.
What are these expense ratios?
Fidelity should provide this information. It is also available on their web site but requires your individual research.
Do we get a discount on the expenses when we use the brokerage option?
No
Do the expense ratios we provide include all costs such as Benefits Express admin fees, fund marketing fees, DAP/401k office costs, etc?
Yes, our average cost in 2000 was approximately 51 basis points for everything. Again, your exact cost would depend on which options you use and for what period of time.
When I retire, can I roll my American Supersaver funds into my DAP?
No, Rollovers from the Supersaver will probably be allowed to another qualified plan (if acceptable by that plan) or an IRA. Generally-a rollover to a qualified plan such as the DAP would not be possible unless you are employed by the Plan Sponsor. At this time there are no plans to seek the IRS approval that would be needed for such a rollover.
Questions & Answers from Email
Friday, May 11th, 2001I understand that our DAP will more than likely continue, but that at some time this year, our 401(k) Plan will terminate. I think that I understand our options with the assets held directly in these plans. What about assets held in the “Fidelity Funds Window”? Must these assets funnel back through the Hewitt held plans for an IRA transfer or can we do an “in kind” transfer to an IRA?
No “in kind” transfers will be available. There is no administrative procedure within our Plans to allow for in-kind transfers. Assets in the “Fidelity Funds Window” will have to come back to the “core” before further transfer is possible. For a DAP or 401(k) rollover, you must first request a 100% transfer of your Fidelity Funds Window to come back to the DAP and/or 401(k). This happens around the fifteenth of each month and takes about three business days. Once the assets are back in the “core”, a transfer or rollover is possible. That would happen on the Friday of the week your completed “distribution” paperwork is received by Benefits Express. You should request the Fidelity Funds to come back before you request the transfer or rollover.
In the AA SuperSaver packet we received, they specifically addressed the issue by stating “SuperSaver allows two outstanding loans per participant, including any loans rolled over from your TWA plan.” As you see, the positions are contradictory, so my question is “Why the difference?”.
Our Plans do not allow a rollover of loans into the Plans. This is an administrative restriction not a legal one. AA SuperSaver must be set up to accept loans in a rollover. We will be unable to accept loans in a 401(k) to DAP transfer. IRA’s cannot accept loans either. DAP manual loan repayments after TWA LLC goes away will be available for those who remain in the DAP.
Everybody knows the NAV (share price) of nearly all funds are down right now. If we rollover to an outside plan such as an IRA or AA SuperSaver, will not our shares in the affected account be sold at current prices and the current DOLLAR value, as opposed to the number of SHARES, be transferred? If so, this would “lock in the loss”.
Yes, any request to rollover would result in “cashing out”, that is, selling all existing shares and transferring the cash value of your shares to the outside plan.
If we elect to stay within our current plan, when the 401(k) is rolled into the DAP, will we transfer shares rather than dollars, hence taking a loss?
No, you would still be “cashing out” of the 401(k) Plan. The difference, if you use the DAP for your rollover, is in the time out of the market. Transferring your 401(k) to the DAP will happen on the Friday of the week your “Distribution” paperwork is received by Benefits Express. Your 401(k) shares are sold and immediately purchased into the DAP Stable Value Option. You can (on Monday) transfer your ex-401(k) assets from the Stable Value into the same DAP Options that you sold out of from the 401(k) on the previous Friday. You would be out of the market one day (on Monday following the Friday transfer).
This is quite an incentive to stay with the current plans, if true, at least until share prices recover.
No one knows what the market will do while you are in the process of a rollover.
Like many pilots, I have been putting 11% pre-tax into the pilot’s 401(k). What happens now? If 14.3% of former DAP money is now going into the AMR SS plan, and our 401(k) is no longer accepting new money, and in fact will have to be rolled over, will the 11% no longer be withheld from my pay or will it also be going into the AMR plan? Quite a number of fellow crew members are asking the same question and there seems to be no published answer. The plan summary from AMR is generic and doesn’t address the specific pilot concerns. Thank you.
Your future 401(k) pre-tax contributions will go to American SuperSaver in addition to the company’s 14.3%. This money will be withheld from your paycheck by TWA LLC payroll and sent to SuperSaver. You should have seen that on your April 25th check stub. Any changes to the level of contributions or investment choices for future contributions need to be completed with SuperSaver. You can, of course, still move your existing money around within our 401(k) until you transfer it.
If I want to roll my DAP/401(k) to the SuperSaver without the “tax-hit”… What do I write in the “check payable to”? What address do I put on the back of the form for a direct mail to supersaver?
You should check with SuperSaver for their procedures. There is no “tax-hit” with a proper rollover. Remember to consider any outstanding loans.
Is it possible to make a partial funds transfer to an IRA or SuperSaver, or is it going to be all or none?
A partial distribution is possible from the DAP.
If I wanted to transfer all of my DAP assets (except for what is in the “Fidelity Funds Window”, is that permissible?
Yes.
A more likely scenario is the possibility that I might want to transfer xxx dollars or xx percentage of my DAP and/or 401(k) assets. Is that permissible?
Only a 100% transfer or rollover of your 401(k) is possible. Partial distributions from your DAP are allowed.
If so, are dollars taken equally from each component of the DAP or can we specify where (i.e. which fund) they come from?
All distributions are taken out of your account pro rata (same percentage that is in the option). If this leaves you with an allocation different from desired, you will have to rebalance on the next day!
May 7th Letter to Participants
Monday, May 7th, 2001Letter Dated May 7, 2001
Directed Account Plan Update and Separation of Employment Notice
Directed Account Plan (DAP)
The TWA Credit Union (CUSO One LLC) has agreed to become a plan sponsor of the TWA Pilots Directed Account Plan. The agreement is subject to certain regulatory approvals including an IRS favorable determination letter for our plan that we are confident will be forthcoming. The DAP will continue in its present structure with no change to existing plan features and procedures. Retirees will continue to enjoy existing plan service without any action on their part. Active pilots for TWA Airlines LLC will immediately be treated as retired participants for plan purposes. This letter will help explain what that means.
TWA LLC is a newly created and wholly owned subsidiary of American Airlines and has no relationship with Trans World Airlines, Inc. Effective April 10, 2001, following the closing date of the sale of TWA’s assets to American Airlines, as an employee of TWA LLC, you are considered separated from Trans World Airlines, Inc. for all purposes.
Because you’re no longer employed by TWA, you are eligible to receive a payment of your TWA Pilots DAP and/or 401(k) account balance. You also may leave your balance in the Directed Account Plan (DAP) until the year in which you turn age 70-1/2 at which time minimum distributions based on your life expectancy will be required.
401(k) Plan
The 401(k) is expected to be terminated by 12/31/2001; therefore, both active participants and retirees with a 401(k) account balances must take action on their account. Investment options identical to the 401(k) options are available in the Directed Account Plan. Your options:
- Request a plan-to-plan transfer moving your 401(k) balance to the Directed Account Plan (non-taxable)
- Roll the 401(k) balance to an outside IRA or qualified plan (non-taxable)
- Take a cash payment payable to yourself (taxable and NOT recommended)
To Request A Distribution From The DAP and/or 401(k) Plans
Note-DAP and/or 401(k) assets in the Fidelity Fund Window MUST be moved back to the DAP and/or 401(k) prior to requesting any total distribution. “Distribution Forms” (for transfer or rollover) are available online at www.4twadap.com. The Special Tax Notice and “Installment Forms” (for monthly DAP installment payments) and “Beneficiary Forms” are also available online.
Call Benefits Express™ at 1-877-4TWADAP (1-877-489-2327).
You have following distribution options:
- You may have the taxable portion of your DAP distribution paid to you, rolled over into an individual retirement account (IRA), or other qualified plan.
- 401(k) balances can be transferred to the DAP, rolled over to an IRA, or a qualified plan.
Note- 401(k) to DAP transfers are processed each Friday. 401(k) to DAP transfers go to the DAP Stable Value Option. Call Benefits Express after the transfer is complete to reallocate to any DAP investment options.
Loans
· Any unpaid loan balances will immediately default and become taxable to you upon requesting a total distribution or rollover from the DAP or 401(k).
· Manual loan repayments, provided a balance remains in DAP, will be available upon request after TWA LLC ceases to exist. Call Benefits Express for details.
Taxes
Please see the enclosed Special Tax Notice for an explanation of the tax consequences of these options. Prior to requesting a distribution, we suggest that you contact a tax advisor. You will receive the value of your account as of the date your request is processed.
To Remain In The Directed Account Plan-No Action Is Required
To leave your balance in the DAP, you do not have to do anything now. You may call Benefits Express at any time to request a distribution. If you have additional questions, please contact the DAP/401(k) Office at 314-739-7373.
J.A.Montanaro
Executive Director
2001 April
Saturday, April 28th, 2001Fixed Income | Large Cap Value |
Large Cap Growth |
Foreign | Small Company |
Portfolio | |
Morningstar Averages for the Universe |
n/a | -2.17% | -8.35% | -7.41% | -3.28% | n/a |
Stable Value Option |
2.19% | |||||
Wellington Core |
3.05% | |||||
PRIMCO GIC |
2.05% | |||||
Cash | 1.88% | |||||
BGI – Stable Value Index |
1.90% | |||||
Benchmark – LB 1-3yr. Govt./Treas. |
3.10% | |||||
Equity Index Option (BGI US Equity Index) |
-5.07% | |||||
Benchmark – Wilshire 5000 |
-5.12% | |||||
Value Stock Option |
0.95% | |||||
Federated Stock Trust | 3.50% | |||||
Morgan Core (Separately Managed) |
-3.02% | |||||
Neuberger Berman Focus Tr | 3.88% | |||||
Legg Mason Spec. Inv. Trust |
6.27% | |||||
Neuberger Berman Regency | -1.45% | |||||
T. Rowe Price Value | 4.96% | |||||
BGI – Value Index | -3.77% | |||||
Benchmark – Russell Price Driven (1000 Value) |
-1.24% | |||||
Growth Stock Option |
-11.18% | |||||
MFS Instl. Mid Cap Growth | -3.75% | |||||
Turner Mid Cap Growth | -16.25% | |||||
Janus Fund | -7.33% | |||||
MFS Instl. Research Fund | -8.61% | |||||
Marsico Focus | -13.29% | |||||
Vanguard World US Growth | -20.54% | |||||
BGI -Growth Index | -9.66% | |||||
Benchmark – Russell Earnings Growth (1000 Growth) |
-10.89% | |||||
International Stock Option |
-9.98% | |||||
Amer Cent-20th Cent. Int’l Discovery |
-10.24% | |||||
Amer Cent-20th Cent. Int’l Growth |
-13.17% | |||||
Janus Overseas | -9.46% | |||||
Templeton Instl. Foreign | -4.06% | |||||
Benchmark – EAFE Net DIvs | -7.71% | |||||
Diversified Small Company Stock Option |
3.74% | |||||
MFS Instl. Emerging Equities | -1.42% | |||||
Royce Opportunity | 10.54% | |||||
DFA US 9-10 Micro Cap Portfolio | 8.09% | |||||
State Street Aurora | 11.96% | |||||
Berger Small Cap Value Instl. | 8.60% | |||||
Franklin Small Cap Growth II | 0.59% | |||||
BGI – Small Company Index | -2.89% | |||||
Benchmark – Russell 2000 Total |
0.81% | |||||
Conservative Model Portfolio |
1.14% | |||||
Benchmark – Conservative Composite Index |
0.59% | |||||
Moderate Model Portfolio |
-1.34% | |||||
Benchmark – Moderate Composite Index |
-2.19% | |||||
Aggressive Model Portfolio |
-1.80% | |||||
Benchmark – Aggressive Composite Index |
-2.96% | |||||
TWA Pilots DAP/401(k) Update
Thursday, April 26th, 2001This announcement is to update all DAP/401(k) participants on some upcoming changes.
The conclusion of the purchase agreement has raised a number of questions concerning the future of the DAP and the 401(k).
DAP
The DAP will continue to serve all 4500 participants including over 2200 retirees, their families and beneficiaries. We will be announcing a new plan sponsor within a few weeks. We are in the process of preparing a plan amendment for the IRS and getting agreements from all the concerned parties. The end result for participants should be no change in the DAP. Retirees in the DAP will not have to take any action. It should be business as usual. You may expect numerous outside solicitations for managing
your money, but nothing has changed in your Directed Account Plan. You do not have to move your money!
TWA LLC Active Pilots in the DAP will be able to stay in the plan with their existing assets. Ongoing, they will have the same options as a retiree. Active pilots could also rollover to an IRA or to the AA Supersaver, or take distributions (you should consult a tax advisor before taking a cash distribution since it could have significant tax consequences).
An active pilot could take no action and continue to manage their retirement assets within our DAP options until ready to access the funds at a later date. Staying in the DAP does not reduce anyone’s choices in the future.
401(k)
Retirees/Actives in the 401(k) Plan should consider a rollover to the DAP. The 401(k) will eventually be terminated which will require action by all 401(k) participants. All 401(k) participants have the ability to roll out to an IRA of their choice including AA Supersaver for active pilots. Comparing plans for choice and flexibility, consideration should be given to a rollover to the DAP for all it’s investment option
choices, mutual fund window, brokerage option, account access, low cost, and the ability to make frequent transfers. Transfers to the DAP from the 401(k) can be initiated on the Web or through Benefits Express at 1-877-4TWADAP. Your money will move out of the 401(k) on the Friday of the week completed paperwork is received and move into the DAP on the same day. There will be an administrative delay of 7-10 days or more for transfers outside of our Plans.
Loans
Loans are no longer available from the DAP or the 401(k). If you have a loan outstanding from either Plan you will be able to continue to make payments on the loan as long as TWA LLC Payroll is available. Loans cannot be rolled over to another Plan or IRA. Loans will default upon any rollover, which will cause a 1099 form to be issued and create a tax liability for the participant. We are working with the TWA Credit Union to offer all DAP/401(k) participants with a plan loan balance a new loan from the credit union. This would enable the participant to avoid the tax liability of a default and keep the additional assets sheltered in the plan.
Summary
We are working on a plan that, subject to IRS approval, would allow other TWA employee groups to transfer from their soon-to-be terminated plans, to the DAP. That would increase the DAP asset base and could lower our already low costs. It would also provide an excellent retirement investment vehicle for hundreds of individuals who are going to find themselves faced with difficult investment decisions.
- RETIREES- The DAP will continue for you with business as usual without any action on your part. If you have 401(k) assets, you should consider a rollover into the DAP now.
- ACTIVE Pilots-Plan for a necessary movement of funds in the 401(k). Consider a rollover to the DAP. Consider remaining in the DAP with your existing assets.
Q What is the earliest date that we can roll the assets of our 401K
plan into the DAP, an IRA, or AA Supersaver?
Retirees can do this immediately. Active pilots have not had their status changed from active to terminated. That change will be made by May 1, 2001. Once the status is changed active pilots will be able to access their funds for rollover. Remember, one of the choices is to roll over the 401(k) to the DAP and to leave the DAP in place with the possibility to compound tax-deferred in a sheltered account. Refer to www.4twadap.com for “Forms Online”. Download “Distribution Forms” and fill them out to facilitate a rollover to the DAP, an IRA, or AA Supersaver.
April 2001
Sunday, April 22nd, 2001Day | Stable Value | Value Stock | Equity Index | Growth Stock | Intl. Stock | Div. Small Co. Stock | Conserv. Portfolio | Moderate Portfolio | Aggressive Portfolio | TWA Stock |
---|---|---|---|---|---|---|---|---|---|---|
02 | 162.61 | 288.99 | 278.84 | 250.85 | 207.26 | 274.52 | 201.39 | 230.60 | 237.41 | 0.62 |
03 | 162.66 | 279.29 | 268.86 | 239.48 | 204.38 | 265.48 | 198.96 | 225.85 | 231.61 | 0.79 |
04 | 162.70 | 279.33 | 268.04 | 238.31 | 205.01 | 264.40 | 198.91 | 225.60 | 231.31 | 0.75 |
05 | 162.70 | 290.85 | 280.37 | 252.98 | 208.65 | 275.93 | 201.89 | 231.56 | 238.58 | 0.73 |
06 | 162.79 | 284.71 | 274.76 | 247.86 | 209.03 | 270.39 | 200.48 | 228.93 | 235.62 | 0.66 |
09 | 162.85 | 288.24 | 277.31 | 250.60 | 209.68 | 273.40 | 201.30 | 230.45 | 237.37 | 0.56 |
10 | 162.81 | 295.57 | 285.25 | 260.57 | 210.82 | 280.78 | 203.46 | 234.53 | 242.19 | 0.59 |
11 | 162.81 | 295.15 | 284.74 | 261.61 | 211.73 | 281.34 | 203.33 | 234.71 | 242.47 | 0.54 |
12 | 162.82 | 298.39 | 289.32 | 266.85 | 213.23 | 285.29 | 204.46 | 236.93 | 245.13 | 0.50 |
13 | Market Closed | |||||||||
16 | 162.86 | 297.15 | 287.89 | 264.67 | 211.95 | 283.13 | 204.11 | 235.98 | 243.90 | 0.43 |
17 | 162.93 | 299.44 | 290.94 | 268.17 | 210.87 | 285.83 | 204.93 | 237.33 | 245.39 | 0.42 |
18 | 163.03 | 311.25 | 302.25 | 282.09 | 216.50 | 295.76 | 208.32 | 243.68 | 253.00 | 0.39 |
19 | 163.00 | 314.65 | 306.42 | 288.01 | 219.49 | 300.37 | 209.39 | 246.16 | 256.08 | 0.39 |
19 | Company DAP Contributions for Nov – Apr purchased on 4/19/01 | |||||||||
20 | 163.03 | 311.28 | 303.87 | 285.68 | 218.71 | 298.68 | 208.56 | 244.87 | 254.58 | 0.38 |
23 | 163.16 | 307.79 | 298.98 | 279.33 | 216.77 | 294.28 | 207.45 | 242.41 | 251.58 | 0.39 |
24 | 163.19 | 304.99 | 295.72 | 275.52 | 216.64 | 293.60 | 206.60 | 241.07 | 250.16 | 0.39 |
25 | 163.19 | 309.64 | 300.61 | 281.31 | 217.69 | 298.79 | 207.97 | 243.66 | 253.28 | 0.39 |
26 | 163.26 | 312.17 | 302.24 | 282.42 | 219.41 | 301.51 | 208.62 | 244.80 | 254.77 | 0.40 |
27 | 163.23 | 316.67 | 306.71 | 286.73 | 220.29 | 304.74 | 209.88 | 246.89 | 257.21 | 0.40 |
30 | 163.31 | 316.36 | 306.71 | 288.52 | 221.66 | 306.95 | 209.89 | 247.48 | 258.07 | 0.40 |
April Fund Performance (in percentages) | ||||||||||
0.45 | 7.91 | 8.33 | 12.38 | 6.22 | 9.14 | 3.69 | 6.20 | 7.28 | n/a |