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Just wondering how many guys with intact A-Plans would continue past 60? Do you think this would imperil your lump sum A-Plan? I'm 37 and am pretty much neutral on Age 60 due to all the guys who lost their retirements. Not Flaimbait!
Just wondering how many guys with intact A-Plans would continue past 60? Do you think this would imperil your lump sum A-Plan? I'm 37 and am pretty much neutral on Age 60 due to all the guys who lost their retirements. Not Flaimbait!
Hello A, we don't have a lump-sum option at Fedex, so that's not a player for us. I'm just hoping that we will still have a B-Plan after the age is increased. Our contract just says "normal retirement age" with no mention of a specific number. To answer your first question, if it's raised I plan to "practice for retirement" as much as I can. What are you leaning towards? I'm off to listen to Capt. Prater today in Seattle.
BRgds,
fbh
Last edited by frozenboxhauler : 02-07-2007 at 02:31 PM.
Hello A, we don't have a lump-sum option at FedEx, so that's not a player for us. I'm just hoping that we will still have a B-Plan after the age is increased. Our contract just says "normal retirement age" with no mention of a specific number. To answer your first question, if it's raised I plan to "practice for retirement" as much as I can. What are you leaning towards? I'm off to listen to Capt. Prather today in Seattle.
BRgds,
fbh
FBH:
I'm over at CAL now. Lost what little A I had at US Air. I know that A-Plans are annuities and that a 5 year shift should have significant implications. The A plan at CAL is still intact and the near 60 guys I've spoken to are about 70/30 for leaving at 60. Most of that 70 cite jeopordizing money in the hand at 60 with a promise at 65. I wouldn't want to risk it. I'm also interested in what the bean counters feel about the economics of age 60. It's such a divisive matter that I think the CEO's want to stay out of it, publicly at least.
Hello A, we don't have a lump-sum option at Fedex, so that's not a player for us. I'm just hoping that we will still have a B-Plan after the age is increased. Our contract just says "normal retirement age" with no mention of a specific number. To answer your first question, if it's raised I plan to "practice for retirement" as much as I can. What are you leaning towards? I'm off to listen to Capt. Prather today in Seattle.
BRgds,
fbh
FBH, The B plan won't go away with an age 60 change, however, there is concern (all unknown speculation) that the IRS might change the rules which might lead to a change in TAX code laws, which could affect the bottom line of a B-Plan.
As far the A-plan goes, any Pilot who has been in the industry a while who doesn't think that MGT will attempt contractual language change to reflect Age 65 is Naive. The current FedEx contract offers protection for those that plan to retire in the next 4 years, however, just like retiree healthcare, the "Normal Retirement Age 60" language in our current contract, both will have to be renegotiated for the majority of us that will retire after the ammendment date.
For other Airlines with A-plans still intact, hopefully you all can get the same type of language we "currently" have (and hopefully we can hang on to it). Age 60 is the "Normal" retirement age, and any years beyond 60 are voluntary, meaning if you need them to increase longevity thats good. If you want to stay an extra year or 2 thats good.
But the most important is if you want to retire at 60 there won't be an early retirement penalty..............that is for the short term future.
[quote=RedeyeAV8r;114368]The current FedEx contract offers protection for those that plan to retire in the next 4 years, however, just like retiree healthcare, the "Normal Retirement Age 60" language in our current contract, both will have to be renegotiated for the majority of us that will retire after the amendment date.
That's where it gets interesting! And why I'm curious about how age 60 will affect management's paradigm.
Last edited by A320fumes : 02-07-2007 at 12:14 PM.
Reason: sp
Just got back from the presentation. After listening to Capt. Prater speak and answer a lot of questions, I have a good feeling about the future of our Union.
fbh
Just got back from the presentation. After listening to Capt. Prater speak and answer a lot of questions, I have a good feeling about the future of our Union.
fbh
It may be just talk (but I doubt it) but he he talks of ONE NATIONAL Union, rather than 47 or so individual MECs'. If one is hurting (paraphrasing here) we all are hurting and we all need to come to their aid. One member, who was very angry at D. Woerth, told Prater that his (Prater's) only "job" was to go to jail when we all take part in a national walk-out and shutting down of the system for a day or so, "just like in Europe". Capt. Praters response was; "Well, I've been bailed out of jail before".
I'm going to attend the meeting in Anchorage tomorrow and see how it goes. Todays meeting was filmed and I would expect it to come up on the ALPA website. Take care.
fbh
It may be just talk (but I doubt it) but he he talks of ONE NATIONAL Union, rather than 47 or so individual MECs'. If one is hurting (paraphrasing here) we all are hurting and we all need to come to their aid. One member, who was very angry at D. Woerth, told Prater that his (Prater's) only "job" was to go to jail when we all take part in a national walk-out and shutting down of the system for a day or so, "just like in Europe". Capt. Praters response was; "Well, I've been bailed out of jail before".
I'm going to attend the meeting in Anchorage tomorrow and see how it goes. Todays meeting was filmed and I would expect it to come up on the ALPA website. Take care.
fbh
It's gonna happen in some form or another. As early as 18 months, maybe 3 years. He said that as soon as ICAO adopted it last fall, the writing was on the wall. He has appointed a 4 or 5 member "blue ribbon" panel from various ALPA carriers to brainstorm (my word) the various possible outcomes and ramifications of the NPRM, which has not been released yet. He said that he expected to be in contact with Marion Blakely (sp) about the middle of this month.
fbh
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