Posted: April 12, 2011
Failure of Pere Marquette, Lake Michigan Carferry, Mittal Steel to sign DC Plan documents delays initial deposits for some AMO members
Three AMO-contracted operating companies on the Great Lakes - Pere Marquette, Lake Michigan Carferry and Mittal Steel - have yet to sign documents required for their participation in the new AMO Defined Contribution Plan. The failure of these companies to sign the documents has delayed the initial deposits into the individual DC Plan retirement accounts of American Maritime Officers members employed by the companies.
The three companies - Pere Marquette, Lake Michigan Carferry and Mittal Steel - will need to sign the AMO Defined Contribution Plan Memorandum of Understanding (MOU) and Trust Documents so their man-day contributions to the AMO Plans can be appropriately directed to the individual DC Plan accounts of the AMO members working aboard vessels operated by these companies.
The AMO Great Lakes leadership is actively pursuing these companies to secure the required signatures on the AMO DC Plan MOU and Trust Documents. The membership will be kept informed of developments with this issue. The three companies - Pere Marquette, Lake Michigan Carferry and Mittal Steel - will need to sign the AMO Defined Contribution Plan Memorandum of Understanding (MOU) and Trust Documents so their man-day contributions to the AMO Plans can be appropriately directed to the individual DC Plan accounts of the AMO members working aboard vessels operated by these companies. The AMO Great Lakes leadership is actively pursuing these companies to secure the required signatures on the AMO DC Plan MOU and Trust Documents. The membership will be kept informed of developments with this issue.