Originally Posted by
TED74
It's "divisive" because the potential difference between what one TRIES to do and what actually HAPPENS is colossal. If I were 61, I'd be VERY interested in a retirement that could pay me 100k/yr or more starting before the next contract expires... I'd even trade in all of my DC for the next 4 years to make that happen. But since I'm in my forties, I don't trust management, DALPA, bankruptcy courts, arbitrators, mediators, politicians or negotiators to ensure anything like that lasts for two decades (when I retire) ...much less four decades (when I still may be alive).
Older folks simply have much less risk in negotiating for not-in-their-name retirement benefits when many of them will be dead in 10-20 years (roughly 75% chance of living to 80 if they're 60 now). I don't hold anything against them and am certainly not surprised different demographics have different needs and wishes. I don't call that divisive, I call that a difference in priorities.
^^^this
Decades of future market/industry risk make it impossible to say that today’s “young” pilots are getting a better deal with DC.
Attempting to make the 2 sides equal (based on a plethora of unprovable assumptions) is begging for each side to retract to their corner, and puts us right where the company wants us: divided.
The only way I see widespread support for an alternative plan is:
1. It is available to ALL pilots. Attempting to pick favored, or most damaged segments, of the pilot group is bound for continued discord like we’re seeing in this thread’s small microcosm or the overall group
And/Or
2. Provide 2 options. Option A is a straight increase of DC, while option B could be some hybrid annuity monster (or whatever it is that you guys are so hung up on getting). Everyone gets to pick which door they want to walk through, and forever hold their peas. Basically put your money where your mouth is ala DPMA - once a career election.
I don’t want anything to do with a plan that stores a benefit with the company instead of my own name. For that type of risk, the expected return should be high. I don’t see an annuity or DB being able to provide anything reasonably close to make the risk worth the promised reward.
Just show us the DC CASH, let us pay the taxes, and invest it how we see fit. No promises to be broken later.