TWU is now accepting applications for the Michael J. Quill Scholarship Fund. This scholarship will offer 15 college-bound dependents of TWU members with a scholarship worth $4,800. This scholarship will be paid out per year in the amount of $1,200 to winners who continue to be eligible over their four-year course of study.
The union has been honoring our founder with these scholarships since 1969. Quill Scholarship awards have benefitted hundreds of TWU families. Sons and daughters of our members in transit, railroad and air transportation, utilities, public employment, space installations, and allied industries are among those who began their college educations with the help of TWU’s signature scholarship.
We have three additional sponsors: Union Benefit Planners has again agreed to sponsor an additional eight scholarships worth $2,500 each. M3 Technology will sponsor five scholarships worth $2,000 each and Vincent Pitta from Pitta & Giblin LLP, in memory of J. Brian Dugan, will sponsor two scholarships worth $2,500 each. All of the above sponsored scholarships will be paid out in the first year, as a single scholarship. The application and additional information, including eligibility requirements, are here.
The deadline to apply is April 21, 2018.
As a member of TWU’s Aviation Division, your work is directly impacted by federal regulations and legislation set by policymakers in DC. This includes legislation that Congress has been working on that would renew aviation policy. This document is intended to provide you information about that aviation legislation and its provisions that impact your work.
Brothers and Sisters:
As a follow up to yesterday’s conference call with TWU Presidents, below is a summary of the plan that has now been agreed upon between TWU and American Airlines, with respect to the TWU Reserve/Equity fund distribution.
– The earliest the distribution will be is late May/early June, assuming all goes well with Project Spring. In the event of any impact to the distribution as a result of Project Spring, the Company will advise TWU of a future date
– Computershare will distribute funds in the form of a check and mail to each eligible employee
– TWU to provide the company with the employee list and the amount or percentage of distribution for each eligible employee
– TWU will be responsible for Computershare fees and costs associated with the distribution(s)
– Computershare will withhold applicable taxes and send file to American for tax remittance to the IRS and W2 preparation
– TWU will be responsible for capital gain taxes, if any, for/from the TWU Reserve Equity Fund
“Project Spring” is a merger of the legacy AA and US human resources computer systems.
Having now brought closure to the process of distribution, TWU can now work to finalize the plan of transferring the trust assets into the funds necessary to determine each member’s share of the equity.
As a word of caution with regard to capital gains, TWU still does not have the answer on if we will or will not have to pay capital gains and that answer may not be known in advance of the distribution. If TWU does not have the answer on capital gains in advance of the first opportunity for distribution, TWU will be forced to hold the
estimated capital gains tax portion of the funds, until such times the IRS rules on the union’s application for capital gains tax relief.
I will continue to provide updates to the American Airlines TWU Presidents, and the membership, as more details become available.
TWU International Vice Presiden