Originally Posted by
MaydayMark
....Research Broadly - Think Critically!
Very Sadly, many are not paying attention or are extremely ignorant on how the "floor benefit" is earned under the proposed VB plan.
They don't grasp how using "Career Average Earnings" instead of our current "High 5" method will put EVERY new pilot who works under this proposed plan at a disadvantage
....and only "assumed market returns" can save them.
The union has yet to put out the assumed upgrade timeline.
Who wants to take a shot?
Narrow Body FO to start
Widebogy FO in 5 years
NB Capt in 10 years
WB Capt in 15 years
Bid each seat at 80% seniority? Will that get you off reserve, get you a VTO, allow you to hold a junk line?
70% of our guys commute - is the upgrade timeline based on commuters or those willing to live in MEM?
We are currently in a hiring boom that rivals the Postal Contract boom, but how many times has that happened in Fedex's history?
Does anyone remember 4A2B BLGs?
I'm sure the senior guys who suffered thru lower paychecks then surely appreciated they had the ability to adjust their retirement benefit upward under or current "High 5" system.
People have focused on the "variability" of the pension, but the core savings driver will be in the change to "career average earnings".
Do the math!