Frequently asked questions
The administration of your American Airlines pension plan is moving to Fidelity. Here are answers to common questions.
General questions
What’s happening with the American pension plans?
Fidelity Investments will be the new service provider for the American pension plans. This transition will not change the value of your accrued pension benefit. You do not need to take any action for your pension information to transfer to Fidelity.
Why is American making this change?
American believes that Fidelity can offer team members an enhanced experience. After the transition, team members will have a single point of contact for managing their retirement income, as the administration of the 401(k) and pension plans will be integrated at one vendor (Fidelity) for retirement planning services.
Who is affected by the transition of the pension plans to Fidelity?
Active, term-vested (former team members who have yet to commence their earned pension benefit) and in-pay (currently receiving a monthly pension payment) participants in the following plans will be affected:
-
American Airlines AMS Pension Plan.
-
American Airlines Flight Attendant Pension Plan.
-
American Airlines TWU Pension Plan.
-
American Airlines Pilot Retirement Benefit Program.
How do I know which pension group I’m in?
You will fall into one of three groups:
-
Active participants: current team members with a pension benefit who are still employed at American.
-
Term-vested participants: former team members who have yet to commence their earned pension benefit.
-
In-pay participants: former team members who are currently receiving a monthly pension payment.
When will this transition go into effect?
Fidelity will be the new service provider for American’s pension plans as of the following dates:
-
Nov. 1, 2022: American Airlines AMS Pension Plan, American Airlines Flight Attendant Pension Plan and American Airlines TWU Pension Plan.
-
Jan. 1, 2023: American Airlines Pilot Retirement Benefit Program.
Is there anything I need to do as part of the transition?
Yes. While you do not need to take any action for your pension information to transfer to Fidelity, you should verify your information is correct after the effective date of your pension plan transition. To do so, please visit netbenefits.com/aa. If you have not yet visited netbenefits.com/aa, you will need to set up login credentials on your first visit.
How do I verify my information on NetBenefits?
After Fidelity’s pension services are available, you will want to review and verify your personal information. To do this, click on the Profile and Settings icon in the top right-hand corner of the NetBenefits homepage. There, you can review your personal information. To review your pension benefit information, click on the tile with your pension plan name on the NetBenefits homepage. By clicking this tile, you’ll be able to view Your Pension Summary with details of your pension benefit.
Is the value of my pension benefit changing?
No. Your accrued pension benefit remains the same.
Why is my pension estimate different with Fidelity than it was with our prior service provider?
On or after your pension plan transition date, you may see slight differences in your pension estimate statement with Fidelity from previous estimates due to rounding variances (typically less than $1).
Will my saved online pension estimate(s) transfer to Fidelity?
No. If you are a participant in the AMS, Flight Attendant and TWU pension plans and would like to keep any current online estimates created at Lifeworks, you will need to save them to your personal computer or print them out for your records before Nov. 1, 2022. Estimates will not be viewable on the Lifeworks website after Nov. 1, 2022. Please visit Lifeworks at pension.myplansconnect.com/amr. On Nov. 1, 2022, you can run new estimates at netbenefits.com/aa.
If you are a participant in the Pilot pension plan and would like to review your accrued pension benefit, please visit your Employee Annual Pension Benefit Statement on aapilots.com. Once you're logged in, click on Pension and Profile from the left-hand menu. Under Helpful Links, click on Pilot Pension and Disability Information. Your Employee Annual Pension Benefit Statement is under Active Pilot Pension Information – Pension Documents.
On Jan. 1, 2023, you can run new estimates at netbenefits.com/aa.
How do I make updates to my address after the transition to Fidelity?
You should update your address on record through American. Any updates will be transmitted to Fidelity by the next business day.
-
If you are an active participant, you can update your address through Jetnet.
-
If you are no longer an active team member, you should contact American at retirement.services@aa.com for a copy of the Personal Data Change Form.
Will there be any changes with tax reporting because of the transition to Fidelity?
If you receive any pension payments in 2022 prior to your pension plan transition date, the answer is yes. Fidelity is taking over tax reporting from State Street Bank.
For the AMS, Flight Attendant and TWU pension plans, this means:
-
Participants receiving a pension payment prior to Nov. 1, 2022, will receive two different tax forms for 2022 — one from State Street Bank and one from Fidelity. You will need both to file your taxes for the 2022 tax year.
-
However, participants who start their pension payments on or after Nov. 1, 2022, will receive one tax form — from Fidelity.
-
Beginning with the 2023 tax year, only Fidelity will issue the tax forms.
For the Pilot pension plan: •
-
Participants receiving a pension payment prior to Jan. 1, 2023, will only receive one tax form — from State Street Bank — for 2022. You will need this form to file your taxes for the 2022 tax year.
-
Beginning with the 2023 tax year, only Fidelity will issue the tax forms.
Whom do I contact with questions?
For participants in the AMS, Flight Attendant and TWU pension plans:
-
Before Nov. 1, 2022: Contact Lifeworks at pension.myplansconnect.com/amr or 866-470-0847.
-
Effective Nov. 1, 2022: Contact Fidelity at netbenefits.com/aa or call the American Airlines Service Center at Fidelity at 800-354-3412.
For participants in the Pilot pension plan:
-
Before Jan. 1, 2023: Contact American Airlines Pilot Pension Administration at 800-447-2000.
-
Effective Jan. 1, 2023: Contact Fidelity at netbenefits.com/aa or call the American Airlines Service Center at Fidelity at 800-354-3412.
For in-pay participants (currently receiving benefits)
I am already receiving a pension benefit. What’s changing with the transition to Fidelity as the plan administrator?
There will be a few minor changes, but for the most part, everything stays the same. Here are a couple of changes you will notice:
-
Electronic funds transfers, direct deposits and paper checks will come from Fidelity (not State Street Bank).
-
Minor differences in your monthly pension benefit amount, due to tax calculation or rounding changes, are possible (typically less than $1).
-
Split payments (e.g., your pension benefit payments are split into two payments — one into a primary account of your choice or a check made payable to you, and another into a secondary account with American Airlines Credit Union) will not be available. If you have this in place today, you will receive a letter with more information and action steps.
What will remain the same?
In almost all cases, your American pension payment will be issued each month and sent to you at the same time and via the same method you receive it now.
A small group of participants currently in pay have unique situations and may see their payment method change. These individuals will receive a letter via the U.S. Postal Service with details and required actions. Examples of unique situations include:
-
Participants who have a check mailed to their bank rather than their home address of record.
-
Participants who currently receive their pension via a wire transfer or at a foreign bank.
-
Participants who have split payments, i.e., their pension benefit payments are split into two bank payments — one into a primary account of their choice or a check made payable to them, and another into a secondary account with American Airlines Credit Union.
Will the transition impact my pension pay date?
Pension pay dates will not change. The only change you will notice is that your payment will come from Fidelity instead of State Street Bank.
I have my pension check sent to my home address on record. Will that continue with Fidelity?
Yes. Your pension check will continue to be sent to your home address of record. You may take this opportunity to establish direct deposit to ensure prompt payments; however, this is not required. See the question below for more details.
I have been receiving a check through the mail. How do I switch to direct deposit with Fidelity?
Participants currently in pay who receive a check via the U.S. Postal Service may wish to establish a direct deposit to have your payment deposited directly into your bank account each month.
For participants currently in pay in the AMS, Flight Attendant and TWU pension plans:
-
If you do not currently have a direct deposit election in place and wish to elect direct deposit to your bank account, you may make this election with Lifeworks by visiting https://pension.myplansconnect.com/amr or calling 866-470-0847. However, it will not be effective in time for your November payment and will be processed for the next available payment cycle.
-
If you do not set up direct deposit by Nov. 1, you will still have the option to elect direct deposit after the transition to Fidelity.
For participants currently in pay in the Pilot pension plan:
-
If you do not currently have a direct deposit election in place and wish to elect direct deposit to your bank account, you may make this election with American Airlines Pilot Pension Administration by completing the form at aapilots.com or calling 800-447-2000. However, your direct deposit may not be effective for your January payment and may be processed for the next available payment cycle.
-
If you do not set up direct deposit by Jan. 1, 2023, you will still have the option to elect direct deposit after the transition to Fidelity.
Will I be able to see my payment history on NetBenefits?
Yes. You will be able to see your payment history starting with payments made by Fidelity on or after your pension plan transition date. Payment history prior to your pension plan transition date, for payments made by State Street Bank, will not be viewable.
For active and term-vested participants (not yet receiving benefits)
I am thinking of commencing my benefit soon. How will the transition impact the process?
If you would like to make a formal election to commence your pension payments leading up to the transition to Fidelity, please note these key dates:
For participants in the AMS, Flight Attendant and TWU pension plans:
|
To elect a benefit commencement date through Nov. 1, 2022* |
Submit all completed paperwork to Lifeworks. Lifeworks |
|---|---|
|
To elect a benefit commencement date of Dec. 1, 2022* |
Begin your pension commencement process online between Nov. 1 and 16, 2022, at netbenefits.com/aa and follow all steps outlined by Fidelity. |
For participants in the Pilot pension plan:
|
To elect a benefit commencement
|
Submit all completed paperwork to American Airlines Pilot Pension Administration before Jan. 1, 2023. |
|
|---|---|---|
|
Standard mail: |
Overnight mail: |
|
|
To elect a benefit commencement |
Begin your pension commencement process online between Jan. 1 and 16, 2023, at netbenefits.com/aa and follow all steps outlined by Fidelity. You will not be able to take action until Jan. 1, 2023. |
|
*Payments may not arrive exactly on the first of the month, depending on when paperwork was received and when you were officially removed from the American Airlines payroll.