Originally Posted by
NoHaz
Would've been a great platform last contract. I'm sure all pilots can shake their head yes to that. Problem is, it is a big "no way, too expensive" for the company and they already drew their line in the sand on not improving the DB plan on last contract. Isn't the whole point of this VB search a supposed win-win in that the company's retirement funding rules will be relaxed and it will free up billions for them. Why not focus on how much the company will save and applying some of that to the plan transition. It shouldn't be a 1:1 transition from DB to VB. It should be plain and clear that even in the worst case scenario the VB plan is plussed up enough by a portion of the company's savings to make sure it is significantly better than what we already have.
I know the company is going to say it is too expensive, but how did UPS just increase their A plan by 30% in the last contract (and they have a 12% B plan)? Why are we not considering that type of process around the Gov funding requirements?
My biggest issue with the VB plan is that it is not going to be equal for every pilot. The guys/gals with close to 25 years of service are going to be the big winners. The rest of us are taking a big gamble for the potential of a very small gain.
The Defined Benefit plan throughout the corporate world is dead. I think deep down, most of us realize that gains in the A plan are going to be very, very difficult. My simple solution to the A plan issue is to allow every pilot on the property to continue to work under the current system until 25 years of service and then convert to a BIG B plan. New hires could start immediately on the BIG B plan. Please hold your comments about how this will split the crew force, someday they will be the majority, etc. If I were a new hire today, I would rather have a BIG B plan than the death by inflation A plan we have today.
If I've learned anything in my years at the company, it is that they will twist language/intent of the contract to their advantage. 777 pay rates and lie flat seats are only the latest examples of what the Union negotiators were certain would work out for us.
I guess the VB plan will be the next thing to add to the ever growing list!