Association of Former Pan Am Employees, Inc.

The Association of Former Pan Am Employees, Inc. was formed to deal with the issue of pension benefits for some 85,000 former employees of both Pan Am and National Air Lines. These employees are effected by a adverse position taken by the Pension Benefit Guarantee Corporation (PBGC).

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You have lost anywhere between $100 to $600 a month in pension benefits for the rest of your life. And after your death it continues to effect your spouse as she or he only receives 50% of your pension amount if you have selected survivor benefits. Normally,employees VOLUNTARILY leaving the company before their early retirement date were not eligible for full pension benefits. The PBGC decided that, as a result of the cessation of operations by Pan Am, all employees under the age of early retirement still on the payroll at that time had effectively left voluntarily. For persons now retiring at age 55, this means a pension benefits of only 45.2% instead of the normal 79%, and a loss of anywhere from $300 to $600 per month. The Association is working with other employee groups, legal advisors, and the PBGC to attempt to reverse this position and restore full pension benefits to this groups of employees. We need everyone's support. As of Januray 2002, we have spent over $820,000 in legal fees and related expenses. As we get closer and closer to an out of court settlement, or a trial decision, it become very important that everyone makes sure that they have filed an appeal of their Initial Determination Letter (IDL.) Everyone, by law, must receive a IDL letter from the PBGC. Many of you, have received it already, and did not realize what it was. There are other separate issues that affect Pilots, FEO's and even those who retired in the 1950s, 1960s and 1970s. If you fall into this category, or don't know if you fall into this category, call the Association (631-357-1065) at once. They will answer all of your questions. Membership Application Form Further information on the Association and its activities, or for membership information, please contact:

The Association of Former Pan Am Employees, Inc. P.O. Box 430 Bethpage, New York 111714-0430 EMail afpaeinc@aol.com afpaeinc@panam.org Additional Web Site http://hometown.aol.com/afpaeinc/index.html Recorded Information Lines New York: Florida: California: (+1) 631-724-5504 (+1) 561-357-1065 (+1) 619-469-7305

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Updated: Tuesday, June 27, 2000 12:06:29 PM Notice information systems technology inc., is not affiliated with The Association of Former Pan Am Employees, Inc. (AFPAE), and is not a party to the legal action taken by AFPAE against the Pension Benefit Guaranty Corporation. The opinions expressed are those of AFPAE and its officers and directors, and do not necessarily reflect the opinions of the officers and directors of information systems technology inc. information systems technology inc., has made this resource available to AFPAE as part of a continuing effort to provide information and support to the employees of Pan American World Airways Inc. (1927-1991). information systems technology inc. receives no compensation from AFPAE for providing this service.