Important DP3 Message
PCN Dir
Look for the next High Life next week on the 29th. In the mean time I want to pass along this important message from Trustee Jim George of the DP3.
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Enclosed and attached is a VERY important message from Will Buergey, Chairman of the Board of DP3 (the Delta Pilots Pension Preservation Committee.) Will’s letter concerns the status of the DP3 appeal of the PBGC’s benefit determination, and your status with DP3. The letter is reprinted below and is also attached in PDF format for ease of viewing/reading.
If you are already fully paid up with DP3 membership assessments, and have filed the recently requested DOR, or “Designation of Representative” (from about April 15th) you should be good to go. If you are NOT sure you are completely up to date, please read and follow the information in the letter to contact DP3 regarding your status
Additionally, whether you want to participate in this appeal or not, please assist the tireless DP3 volunteers who have worked so hard on behalf of all of us by forwarding this to any of your affected Delta friends or acquaintances to insure they are up to date, and are not “among the missing” who have changed email addresses, moved, or whatever.
Finally, I personally want to endorse the thought presented in the letter – that a simple “cost-benefit analysis” would seem to make it logical to pay any final assessment and fill out the DOR before the appeal is filed this summer so that you will be able to benefit from any result that may be obtained.
Thanks very much! I hope you are enjoying your summer! (… and the nice progress in your portfolios thanks to our investment team!) I look forward to seeing some of you at the Park City Client Seminar on Thursday.
Regards,
Jim
James G. George
Financial Consultant/Pilot Representative
Retirement Advisors of America
A PHH Investments Company
7 Calle Pacifica
San Clemente, CA 92673
Business: 949-661-6879
Toll Free: 866-767-5757
Cell: 949-295-9025
Email: jge...@raa.com
Retirement Advisors of America is the nation’s largest provider of comprehensive wealth management services to crew members and their families. We currently manage over $2 billion of assets for more than 2,000 retired pilot families in all 50 states. Beyond investment management, our comprehensive services also include survivor assistance, estate & tax planning, distribution & withholding planning, medical and dental coverage, and regular reviews of clients overall financial situations
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Were you ever part of the DP3 appeal process? –Read this!
Please insure you have taken the final important steps to be included in the upcoming Federal Court Challenge to the PBGC's benefit determination process!!
The DP3 board is attempting to reach retirees who participated in the appeal process who either:
a.) have not sent in the updated DOR ("Designation of Representative") necessary for each individual pilot to be part of our Federal Court challenge of the PBGC’s benefit determinations; and/or,
b.) have not made ALL contributions to DP3 and the legal fund to become/remain in fully paid up, Honor Roll status.
If you have not paid all requested contributions to date, or if you have not sent in the recently requested DOR, please contact DP3 immediately at (cont...@dp3.org).
We feel a strong sense of obligation to make every effort to ensure that all potential participants in the appeals process have been fully informed that they will no longer be part of the process if they do not take certain actions. Absent completing these essential requirements, one will in effect be "opting out" at this late stage in the process -- which is illogical, thus we are undertaking this final effort to reach all Delta retired pilots who are eligible to be included in this appeal.
To that end, the dedicated, unpaid volunteers that make up the DP3 board are giving up golf games, interrupting vacations, and telling the grandkids to be quiet while we attempt to contact each of these individuals. Please help us get back to the joys of retirement.
REQUEST: If you are already paid up and have filed your DOR, you can still be a big help by forwarding this to other retirees you know to insure they have kept up with DP3 communications and are not among those we are trying to contact.
NOTE: If you are not sure if you have sent in your new DOR, please go to the members only home page at DP3.org, logon, and click the link in the green box on the left to see if your name is on the DOR list, and click the Honor Roll link to see if we show you as current on your contributions.
Contact the board if you're unsure of what you owe to get back on the Honor Roll.
To contribute: You can use your credit card right on the DP3 home page at DP3.org (no logon required) or mail a check to DP3, Inc.; 8014 Cumming Highway, Ste 403-333; Canton, GA 30115.
If you’ve been out of the loop, here’s the latest news
If you didn’t receive our last email message for any reason (Attention: YOU may be one of those we are trying to contact!!), DP3 filed a "friend of the court" (amicus) brief in support of the Soaring Eagles petition, to be heard by the Supreme Court. Our brief directly addresses the problems that many, many retiree groups and their representatives are having in dealing with the PBGC. You can read our brief in full at the following link: http://www.dp3.org/data/2014AmicusBrief-DP3.pdf.
As is apparent from the brief, there is widespread frustration with the PBGC. Even more importantly, there are solid legal arguments regarding the roughly $500 million PBGC is NOT paying you and your families.
At this point, years of work are coming to fruition. We anticipate filing our Federal Court Appeal this summer. The bulk of the anticipated funds to pay for this appeal process have been collected and are in the bank. Thus we are at a loss to understand why anyone who may be entitled to a potentially large benefit would fail to complete the process by filing their DOR, or why anyone would not want to participate given the relatively small cost to be a fully paid-up, Honor Roll member, based on a simple "cost-benefit analysis" of the possible gain to you and your family. Please follow through, stay involved, and support this effort to help us regain what has been wrongfully taken from you and your loved ones.
Thank you.
On behalf of your DP3 board,
Will Buergey
Chairman, DP3