Originally Posted by
fdx727pilot
Actually, after reading both section 27 H and I several times, it appears that the CBA uses "contribution" both ways, as money from FDX, ALPA, and individual pilots into the VEBA fund, and as transfers to 59+ year old pilot's HRA. So, it appears Busboy has summed it up. Over 60 guys get their HRA, while contributing $.50 per credit hour, or approx $500 per year.
I've been wrong before, and could be this time also, but my understanding is that when a guy turns 59, the $25K goes into his Health Reimbursement Account, to be used
when he retires. If said pilot continues to work, those monies are
untouchable until retirement and then they can be used for all the things specified, such as health care, premiums, drugs, etc. In the meantime, I'm still contributing, at the same rate as all other pilots, to the overall fund. As well, this fund will be available to everyone else, who meets the criteria (Age 53 and service requirements) when they turn 59, or am I missing something.
So, am I getting "something" from this fund? Not that I can tell. Will I get something from it? Maybe, if I live long enough to retire and then use it.