Originally Posted by
FDXLAG
And what you fail to realize is that A Funds are going away, period. .................................................. ..................................
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I did not want the companies cash balance plan 2 years ago, I do not want it now. But since our contracts seem to out-last business cycles I would like for us to start talking about freezing, then converting our A Fund. I would rather be in the NW frozen A Plan than USAIR with a defaulted A Plan.
And I am glad they are fixing their bottomline 10 years out because that is when they will have to start paying my A fund.
I realize the A plan peril.......i have already lost one from a previous.
I am glad you do not want the company's cash balance plan because that is what they offered us.
I do not want our A plan frozen!!! Freezing the A plan is a screw job. That is what the company just did to all Non Union folks. If the company wants to get rid of our DB plan, They can offer to buy it out!! (or re-balance) There is a major difference between a buyout and a Freeze.
If Age 60 changes(when not if) the Company's pension fund will become overfunded. (at least for 5 years)
There will be Less Pilot's retiring at Assumed age of 60 and for every year a Pilot works past 60 that is one less year the company will have to pay a pension................not to mention said Pilot's Life span will be shorter.
I agree we need to explore options. Problem is we don't open section 6 for another 3 1/2 years. Yes I would like to see a pairing down of the DB plan and increasing the DC plan. For us older guys (with less than 10 to go) It will be imperative that we get full credit for our Vested DB plan. Ten or less years of a higher B plan isn't going to make up the difference. The sky ain't falling yet. Just be glad you have a collective bargained agreement.