Originally Posted by
capt_zman
Quoted from the FDX 7 meeting minutes email,
"Our CBA protects us and keeps “normal” retirement at age 60, even if the regulated age changes. Additionally, our Defined Benefit Plan (A-Plan) and Money Purchase Plan (B-Plan) remain unchanged. It should also be pointed out that Money Purchase Plans are not exclusive to airline pilots. They are a type of Defined Contribution plan and thousands of employers offer them. Even if the regulated age changes, we see no threat to the continued existence of such plans."
Does anyone know for sure if this is true?
The main point to take away from this is that while our A and B fund are defined by the contract the contract CAN CHANGE. Who here thinks that the company will not come after these plans next time? When we try to argue that the "normal" retirement age is 60 (ie no penalty for retiring between 60 and 65) the company will say "Screw you - FDX ALPA was FOR the change to age 65" and here comes 65 as the new "normal" retirement age.
If the MEC is so worried about how much they will be able to influence how any change is implemented, why don't they consider our contract? The company will have a field day with us during the next negotiations, specifically because our MEC came out in favor of a change. Expect to fight tooth and nail to maintain what we have in the A-Fund, and who knows what will happen with the B-Fund. While we are spending so much time and "negotiating capital" to preserve what we already had, we won't have any left for, say, pay raises or work rule enhancements.
This will come back to bite us in the collective arse many times and from many different directions, and to change our stance now weakens any position we might want to take in the future.
Another thing - hasn't ALPA's official stance been that the Age 60 rule was a safety issue? Someone correct me if I am wrong on this.
So (if I am correct) are we now to believe that a "changing political climate" can change our official stance on a safety issue? What's next - increased duty up to 20 hours? Is it safety or is it politics?