Originally Posted by
Noworkallplay
And they continue to talk circles around themselves just to trash "new ideas". All of the sudden they are Flat Dollar formula fans because hey, someone else has one so it must mean its good. Yet the other plan ALPA is looking into is garbage. I have to laugh at this long diatribe about what if the market does this or does that then the new A plan would tank. Well that's been addressed on the education material. What do they think our current A plan is invested in? Its funny because the modeling showed numerous market conditions and starting points modeled. They talked about how the new A plan would have give floor protections. Literally every negative point I have seen posted has been addressed in either the information that came out in 2017/2018 or the most recent stuff over the last month.
Yes the A Plan invests in the stock market. But if it underperforms, Fedex is on the hook to add more money. (That’s one reason they don’t like it...they can’t forecast that performance and cost.) The PSPP would be a pyramid scheme where those shortages are taken directly from our fund in the idea that there’s time to make it up. IF they can get Fedex to guarantee the floor that would be different, but Fedex isn’t going to do that because that wouldn’t improve their position either and they wouldn’t even have control of where the fund is invested.
The biggest downfall with the VBP/PSPP is that it WILL erode our future negotiating power. You yourself already have been on here complaining about guys flying draft (even while we’re not in negotiations?). What do you think they’re gonna do when their forecasted retirement is tied directly to every single dollar they earn? We already know 51% of every pilot force at every company already votes based on “Pay in the pocket”. In our case it was 54. What do you think is gonna happen in future contract negotiations when Fedex is willing to drag their feet for years. When the Union leadership hard sells this is as good as we think it’s gonna get or it might take a protracted amount of time. Not only will pilots want the raises (which I’m not against in general, but certainly don’t want them to override all QoL issues), but when they find out their retirement projections will go down the drain (because a catch up does nothing for compounding gains/interest in the market) as well. We’ll find 51% flying draft during negotiations to protect that retirement forecast and voting for the first contract offer that meets the raises they need for that forecast. We’ll have PBS on property in no time and be playing right into the company’s hands!
Increase the A Plan (at least fight hard for it!) and increase the B with cash over cap. The B plan is your cola/inflation protection. The A plan is a fixed income to cover fixed costs. The best of both worlds. We’re one of the last few to have it and you’re so anxious to “try something new” you can’t see the forest for the trees!
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