Originally Posted by
UnusualAttitude
2. Retirement - The legacy I came from was contributing 15% to a DC plan at the time I left. I think that might be 17% now but I'm not sure. With our current A plan it takes just over $2.5 million dollars to generate the annual income and that is assuming between a 5 and 6 percent return. If we were dumb enough to rid ourselves of this plan then I have just given up $2.5 million dollars overnight. Unless my classmates from the legacy all have over $2.5 million plus whatever the company has contributed to my B fund in their retirement accounts at the 25 year mark then I count myself ahead because that is the intrinsic value of what my retirement will be worth at 25 years. Why would I be in favor of giving that up? I'm not. In fact, I am highly concerned about what is happening right now but I'm listening. I have flown with a few guys who say, "you have plenty of time to make it up." Why would I want to make it up? I only caring about getting further
-UA
And yet we have a group of college educated pilots who make up our MEC who don’t seem to get it. This all began as a project to sweeten the pot for our senior pilots who won’t be around for the next contract. Now, it has gained a life of its own and they must keep it going to justify the time and money they have sunk into it.
If you have already maxed out your A Plan benefit, no problem. If not, we are just going to freeze that 2.5 million benefit you talked about (that is also GUARANTEED), in exchange for a Plan where the pilot basically bears all of the risk.