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When TWA is no more and TWA Alpa ceases to be the collective bargaining unit for TWA pilots what will become the status of the TWA DAP??

We are working to maintain the structure of the DAP so it would continue business as usual- It could be that American Pilots would want it with American sponsorship or we keep it for retirees and ex TWA pilots flying for American with existing balances and American sponsorship – It could continue with ALPA sponsorship-It could continue in the form of a group IRA. There are a number of scenarios but it is too early to predict what we will end up with. You will receive plenty of notice and communication when the details are worked out. For now, you know your assets are secure, and you will always have the freedom to move your assets later if you do not like whatever structure we end up with. The danger is moving your money out of fear or for the wrong reason.

We have a number of “Financial Advisors” spreading doom and gloom in an effort to get your assets out of the Plan and into their commission/fee schedule. That step should be taken very carefully. Again, if you leave, do it for the correct reason, whatever that might be for you.

I have received letters telling me that the DAP is safe and that my DAP account is my sole property and that will not change.

Thanks for reading our mailings. Those pieces of information are supported by the law.

Retirement assets can not be assigned except for QDROs (divorce settlements)And IRS intervention for taxes. Bankruptcy court can not access or freeze your funds ( That this will happen is the current storyline of an advisor who has the pilots mailing list and is spending a lot of time on the phone. It is not true!).

Who will administrate the DAP ??

TWA has never administered the DAP. The TWA Pilots DAP/401k Board of Directors have outsourced the administration for record keeping and trust custody to Hewitt Associates and Mellon Bank since 1992. This will not change with the absence of TWA. The operation of the Plan should look the same in the future as it has in the past.

Will it become a separate entity??

The DAP has been a separate stand alone plan since July,1993. The extent of TWA and ALPA interaction with the Plan has been the two out of seven seats that each has filled on the Board of Directors. The DAP has never been run by TWA or ALPA. It is governed by a seven person Board of Directors, each having the fiduciary responsibility under ERISA, the IRS, and DOL ,to administer the plan for the sole benefit of the participants

There are questions being raised about these issues amongst the retirees on the TARPA site.

I appreciate the opportunity to answer your questions because there is so much misinformation being passed around. The advisor that calls you with false claims and information may not be the person to whom you entrust your retirement dollars for safekeeping and growth. We do not have all the answers yet. No one does. Our DAP has worked out for most participants to be an efficient, productive, low cost investment structure, bringing a great deal of retirement financial security and piece of mind to hundreds of TWA retirees who deserve it. I do not anticipate that changing. If it does, you will be given plenty of advance notice to take the appropriate action. I hope I have answered your questions. They need to be addressed and since the bankruptcy I have attempted to start the information flow but many do not read what we send out and instead are quick to listen to others who may have ulterior motives.

Please call 314-739-7373 if you have questions!

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