Originally Posted by
mempurpleflyer
Agree!! I was hired in my mid 40s. I can't max out the current A Plan because I don't have 25 years to give until I turn 65.
That said, I have done the math and I have a number that the A Plan will be worth to me. And, assuming FedEx does not go bankrupt, it is guaranteed...no market risk to me. It is my baseline to build upon. Then, of course, the B Plan builds upon it, along with other things.
Bottomline, any plan that does not GUARANTEE me at least the amount of our current A Plan for the rest of my life will equal a NO vote from me. Sure, I wish our A Plan could be improved but it still has tremendous value that I think we underestimate that sometimes. I am not in favor of freezing my current A Plan percentage in favor of any plan that puts more of the risk on me.
This "expert" hired by the union has worked with other companies to restructure their retirements. But, those companies had to restructure because they lost their pensions. How many companies has he worked with that just voluntarily froze their A Plan in favor of some other plan?
I have not done an exhaustive search but if this goes through, we may be the first employee group in history to voluntarily freeze their A Plan. And, you know how it usually turns out when we try to show everyone how much smarter we are than they are.
If we do this we will go down in history as the dumbest idiots to where a pilot uniform!
The value of our A plan is so huge, we would be giving up major leverage for future contract negotiations by doing this now outside section 6 IMO. I don't understand why we don't push for an option where we keep the current A plan and continue to increase the B plan to match other airlines in the 16% range with cash over cap. That's a doable solution for the future to keep the overall package from being eroded while limiting risk while pilots are a hot commodity worldwide for the foreseeable future.
I want to hear another expert who argues the merits of our current A plan. The guy they used dealt with blue collar grocery baggers who were facing a pension termination, not highly compensated employees with a healthy A plan and company.
Anyone else having problems with the post quick reply feature on this forum?