Originally Posted by
BMEP100
They didn't "save" the A plan. They cut some smaller artieries to allow a slow death. It was not a wash for the Chairman and many in his seniority. As for the annuity payments, it didn't become a wash until you got into the ~ 30% first officer seniority. The lump sum grew because of falling interest rates. However, as part of a budget reconciliation in Obama's second term that allowed for another new funding calculation, the plan was so severely underfunded as to be labeled "at risk" by the IRS.
That was my point, to a MAJORITY of pilots, this was not worth signing a concessionary contract over. To a SMALL minority of pilots, most of whom would spend little time working under the POS they negotiated, they didn't care what the rest of the contract said....only that they preserved as much of their A plan as they could.