Originally Posted by
kronan
Really, you'll support the majority. What if the majority votes in something you don't agree with? Will you still support it?
The amazing amount of $$$$. You mean spending money on analyzing retirements\actual actuarial data. Wouldn't it be much better to simply look at the profits of FedEx and pound on the table that FedEx can afford it, rather than looking behind the curtains to see if regulatory changes might've impacted Pensions?
Lot of people seem enamored with UPS and FDA's solution. Okay with me, except for the disparity between FO and Capt retirements.
No issues at all with going with a 1% Pension and an FDA value. Currently, our equivalent FDA value is $5,200. Let's shoot for a 20% increase on our A plan. That would put it at $6,240. (Not doing the math but does that put it 40% greater than UPSs?). No way to predict how the DC limit is going to be adjusted for future years, but if the trend continues, should be about 309k at my WAG of a transition point. So, 2% VB floor would be $6,169. A 2.1% floor would be $6,478.
And, I want BOTH an improvement in our B plan as well as our Defined Benefit. Not an either or. But that's just me.
Hey, I’ll still say the 2015 contract was well below what we should have accepted. I said it then, and I’ll say it now. And remarkably, I’d say most of us agree. It’s hard to find anyone (except for you) that admits voting in favor of it. So, if the majority of us actually want this the variable concept, I’ll support the cause. We both know it’s not liked by most of us.
Paying money to analyze actuarial data is money well spent. Paying Blitzstein and Cheiron for their input on the variable pension was a f’ing waste. Very few of us have ever wanted this scheme, and the company laughed at us when we presented it. And they just keep selling it.
Not many here want UPS exact pension! IT’S THE CONCEPT that’s interesting. No One wants $4300/per year. You don’t have to separate Capts and FOs. We don’t now. I would have no problem tying yearly amounts to FAE.
300k FAE= 100% of the annual flat dollar amount
270k FAE= 90%
240k FAE= 80%
Etc.
There are many ways to make this work.
If indeed the FDA concept reduced FedEx’s pension liability, they may be more inclined to have serious negotiations. I’m not saying this plan is viable or achievable, but it’s incredible simple. No stabilization fund that the company doesn’t want to provide. No hurdle rates. Just a guaranteed benefit like we get today. Put together right, this is a plan we could all agree to (well most of us).
The only area that I agree with you is pushing for A and B gains. It doesn’t have to be one or the other.