Old 11-13-2017, 12:31 PM
  #1  
DLax85
Gets Weekends Off
 
DLax85's Avatar
 
Joined APC: Jul 2007
Position: Gear Monkey
Posts: 3,189
Default FedEx - Other Retirement Improvement Options

While addressed in some posts in other threads, I’m starting this thread to (hopefully) generate thoughts, ideas and proposals on how we, and our elected representatives, could work on all pilots behalf to improve our total retirement compensation

Instead of freezing our current DB Plan and switching to a “yet-to-be-fully-defined, riskier” Variable Benefit Plan, what improvements can we make to our current A fund (DB Plan) and B fund (DC Plan)?

These improvements may be broader than just “increasing the $260K” cap

The idea the current A fund/DB is now at some “significant default risk” seems disingenuous to me, given our representatives first choice in the last negotiations was “raising the cap” based on “inflation” or a “COLA”.

Our representatives did not proclaim our desire to raise the $260K was somehow risky or dangerous during the last negotiations.

The ideas generated in this thread can address multiple issues:

- Those pilots above 25 YOS & current High 5 maxed at $260K

- Those pilots below 25 YOS, without High 5 maxed

- Those pilots who prefer a fixed/known Defined Benefit vs a Variable Benefit which may go up or down

- Those pilots who’d prefer to personally control any additional retirement funds put at “market risk” vs more funds with greater risk, but no control

- How do we ensure retiring with full benefits at 60 is still an option, without indirectly making or overly incentivizing pilots to work until 65?

Instead of abandoning our current, and well known, DB and DC structure, what enhancements can be made in each, without disadvantaging and dividing certain pilot cohorts?

What long term, structural changes can be made so we won’t have to readdress this issue every negotiation cycle, and avoid the seemingly constant conflict between pilots at the beginning, middle, and the end of their careers?

I have a few ideas, but I’ll pause to see what other ideas are out there

The unions decision to only focus on improving the A fund by making a fundamental change from a DB to a VB is very worrisome

There are other ways to improve the A fund and the B fund that will increase each of our total retirement compensation.

Let’s get creative!
DLax85 is offline