Originally Posted by
Chilitime
That sounds a bit hyperbolic, Dr K. I’m not sure which video or union rep proposes day trading, etc. All of the questions you bring up, such as pbgc, hurdle rate, floor rate etc are answered in the comms. I see your point that there are no concrete numbers on what those values are, and the value of the proposed plan DOES hinge on those. They would have to be negotiated to be codified. Did you know that the union proposed a look back provision, wherein you could choose to stick with the old plan upon retirement?
At any rate, an online survey will be released soon, and available to all members, according to the recent PUB meeting. At the recent online PUB event, the leaders are asking for maximum participation so they have valid results. Then the MEC will know where we stand as a group, instead of relying on pilot anecdotes about “my cousin says it’s all a bad idea, and he makes a ton of money as a day trader”.
Ok if we cannot or do not have the collective will to get the company to raise the Cap on our current pension? What on earth makes you think we can hold out for good negotiated funding rates for good hurdle or floor rates with the same company that will not raise or current cap? This is like the comedy of our elected officials “we have to vote for it, to know what’s in it” statement. Remember all the actual numbers etc will have to negotiated with the company after we the crew force have voted for it!!
I talked to a MEC officer and I too personally think they are all in on the VB plan and I will bet we will never see a simple survey question such as “are you in favor of the VB plan”. It will be like age the 60 survey and similar to if we cannot raise the Cap are you in favor of other options to improve retirement. Which we are but probably most are not in favor of the VB plan being that solution.
This contract is going to be very interesting and I think we have been bit too many times with secretly agreed to interpreted language or side deals. We need to demand that all language and any agreed to implementations have to be fully disclosed to us before the vote. Remember the first class, lay down seat change implementation was supposed in the notes and we were covered! We see how that played out.
I support the union buy they work for us not us for them.