Originally Posted by
robxjt27
Correct. It’s about to go to $4300 January 1. And correct the captains number. FO is about 3300. I’m just trying to compare apples to apples. I’m just trying to understand why you guys would want to make a change so significant to your A plan.
Question. If you guys were able to get 4300-4400 and 30 years of service, would you still be looking to change? I love the idea of guaranteed money in retirement of ~4400x YOS. Plus whatever the company contributes to the B plan (currently 12%) and whatever a pilot saves in his 401k savings.
I just want to understand what is driving this change for FedEx Alpa. Let’s face it, what you get will be pattern bargained for on UPS’s next contract. Pattern bargaining works both ways, so curious about this subject for UPS’s next contract.
The change is being driven by the erosion of the value in the plan caused by inflation. There is no cost of living adjustment so $130k in 1999 doesn’t have the same value today and will have less value in 25 years.
Personally, I wouldn’t want to 4300-4400 a year if it takes 30 years. If it takes 25 years, then that would be something I can consider. I’d also like to see cash over cap spillover into our VEBA HRA.