Quote:
Originally Posted by fireman0174
IMO, what you want to do is to have your contracts "grandfather" all current pilots into a "no penalty for age 60 retirement". Going to be hard to do.
Also, the question also begs an answer about how the IRS would handle the change.
ALPA and other pilot unions had better get together here.
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Fireman, you are 100% correct. These are the most important issues concerning any age change.
Seniority will be affected, no doubt, and it depends on where you are in the Food chain with respect to one's opposition or support.
Retirement issues if they affect everyone negatively, should be the focus.
Potentially if everyone is affected in a negative way, just maybe, ALPA with the help of CAPA, can lobby and steer any IRS rule change.
Any of you folks that think "There will be no negative affect on retirement issues" have your blinders on. Even if your A-Plan has been frozen or terminated, you could potentially still be affected negatively if the IRS changes IRC 415 (b) (9) language.
Fedex's current contract ( actuually it is in the Plan document) still has 60 as the normal retirment Age. But don't think for a Minute when we begin section 6 openers in 3 1/2 years that the company won't propose a change in that language to 65. We will once again have to use Negotiating capital on something we currently have, instead of using it to get better work rules and duty limits.
I have said in previous posts that the change was coming. I still believe we are at least 2 years away from a change. The NPRM will occur. There will still be a waiting period before any change is inacted and by then we will be nearing the election cycle of 2008. Generally Nothing gets accomplished in DC the year of the elections.
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