Thanks for bringing this up, I'm not real timely in reading my union email. (my bad, I know).

Based on your post, I proceeded to do so forthwith. I didn't see that they were going to:

--give control of retirement money to the company, or
--drop the 401K contribution.

It was more of an explanation of what options might be available.

It looked to me like the guys we elected are doing a "due-diligence" on what retirement options are available. I know our dues pay for a room full of MBA spreadsheet jockeys somewhere. We can also access legal/financial talent that understands all the options. They should be able to address concerns that I've seen mentioned (for example, I don't know of anyone who wants DAL or ALPA to have control of any retirement money. I also think most/all of us want to have any funds in our own name. The guys here during BK already learned that lesson.)

I am going to keep an open mind here and not pre-judge. I'll be interested to see what they come up with and expect they will "loop back" every so often with updates. That's what this piece seemed to be, nothing more.

My personal thoughts: I know a couple guys who get military pensions, and a couple of (older) North guys who will have both an annuity-style payout and their 401K. The diversity of that appeals to me in some ways. Kind of like having two hydraulic systems powering each flight control.

Can't speak for anyone else, but I trust my LEC guys and will give them room to work on this.