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Originally Posted by
Gunter
Not yet they haven't. Partly because most don't know how a conversion would only yield 10-20 cents on the dollar.
An ethical MEC will not go down this road of screwing the middle 70-85%
Not to worry we will never see a "conversion" of our current A Fund Pension. The Company loves having the plan in place and it will always stay that way as it remains a good place to stash money for profitable company's. So a viable pension fund is a good thing, what is not liked by the Company is continued accrual of new plan members as this yields balance sheet problems in the eye of the investment world.
What could happen is a change via some new options. In no way would I expect a sell out of new hires, but the vehicle used to get a retirement pay out that is equal to our current plan could look different for them and I am sure many on the property would love to have an option to balance their exposure to so much DB money in exchange for more DC money going forward. Make no mistake, a retirement plan weighted more or all on DC has issues like Albie talked about but it also can be a more costly option for the Company as they have to actually pay that money now but once that money is out the door it is off the books.
Flexibility and the support of our R and I experts is critical in covering our six and the six of any new pilots so that we do not create a disparate benefit.