Originally Posted by
Der Meister
Why ask a question about something that has not even been approved by the FED/IRS? I don't know why we are even fighting for something that isn't even approved yet. If we want to ask for it, ALPA national needs to lobby for it first and get it approved. Once its approved by the FED/IRS I'm fine spending time on negotiating for it. Untill it's approved we are spending our time negotiating on pipe dreams. Just like age 67, which is an act of Congress it's just simply not going to happen quickly...
The plan is approved and is in use in certain professions. What isn’t approved is the “optional” part. We can’t/ won’t get any kind of approval from the IRS in time. It would require a change in the IRS tax laws. What they’ll do, mark my words, is get it into the contract, and then apologize that they couldn’t make it optional. Oops. It was more difficult than they planned, but they’ll continue working with the IRS and by next contract, they’ll have changed the regs and it’ll be optional at some point in the future, so agree with it now and in a few short years, you’ll be able to opt out. It’s the vote for it now, we will fix it later program. If it makes it in at all. I’m feeling the wool being pulled over my eyes on this one. They’re downplaying it’s significance right now, which makes my cynical self think this is how it’ll shake out.