Originally Posted by
Noworkallplay
We need to figure out what we want. We have a big group now saying leave the current A plan frozen and just get a bigger B plan. Well, what is it? The whole reason we went down this path is we said we wanted an A plan increase. If we don’t get an A plan increase on this contract you can kiss a gain in the future goodbye. If we only increase the B fund then our total retirement package will be out of scale when it comes to fixed income vs variable. Is this what we really want to do?
No, that's not what a big group is saying. They are saying don't change our A fund to a Variable Benefit Plan where the pilot group assumes the investment risk. Don't change the A Plan where you eliminate "HIGH 5" FAE.
There are changes we can negotiate to our current A plan that will increase the benefit WITHOUT changing to a Variable Benefit Plan. Tethering the FAE to the IRS 401(K) limits, or perhaps NB Capt Pay x 1,000 hours, will allow the A Fund value to grow. Adding, 1% YOS multiplier for years 26-30, would allow the max percentage to grow from 50% to 55%. These can both occur without switching to a Variable Benefit Plan, and shifting the investment risk.
And yes, increase the B fund. Total Retirement = A Fund + B Fund. Our retirement absolutely can be increased without replacing our current A Plan with a Variable Benefit Plan. Demand the Union genuinely explore, publicly discuss, and publicly present all of these other options!
In Unity,
DLax