Originally Posted by
TonyC
The cost of post-retirement/pre-Medicare health care was a huge problem facing our pilots in 2006.
CBA 2006 solved the problem with a Voluntary Employees Beneficiary Association (VEBA) - a "trust fund" of sorts - funded by The Company with a lump sum of cash into a Health Reimbursement Account for pilots who would reach Age 53 by January 1, 2007.
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And they responded overwhelming by choosing to retire at 65 anyway. Which negated the "problem" entirely. But not the benefit. They still have it to use later. BTW, half of the "company's" lump sum was money due the association for wet leasing penalties. Money that was due all of us, not just the over 53 crowd. I would feel better with a "thank you, under 53 pilot" from these guys. What did we give up to help fund their retirement?
Originally Posted by
TonyC
While we're all so focused on PiBS, I hope we can still remember to take care of all of our retiring pilots (not just the military retirees) with a way to afford their post-retirement health insurance premiums.
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You make them sound so helpless. Like they're getting thrown under the bus. Please spare us. If we're throwing around quotes -- how about BC's concerning schooling in an FDA, "I have to pay for my kids to go to private school in Germantown so you should pay for school in an FDA."
You may think I'm against helping those retiring. I'm not. But working their deals while pushing a substandard FDA LOA is not right.
I'm glad we don't have the same kind of people in charge that would accept PBS for a new and improved VEBA deal. And glad the makeup of the membership now would flush it if required.