Originally Posted by
kronan
Whether the internet guru's like it or not, a PSPP style Plan IS a Pension Plan. You don't get PBGC coverage of your 401k, don't get PBGC coverage of your B plan, will get PBGC coverage if we transition to a PSPP style plan.
Why would anyone need PBGC coverage of their own money? Unlike pension money, 401k (or B plan) money can't be taken from you if/when the company goes bankrupt or disappears. No PBGC needed.
Originally Posted by
kronan
Unfortunately, a PSPP style transition isn't going to be negotiated in, because I've also learned here that a PSPP style Defined Benefit Plan is MORE expensive than improving our Traditional Plan.
And if there's one thing I've learned in my 20 years at FedEx, Management will ALWAYS choose the cheaper option when it comes to Pilot Benefits (See Hotel rooms\Express Scripts)
Good, then lets cut our losses now and focus on improving our existing A&B plans. It's almost humorous watching the MEC try to push this pancake plan down our throats when it's clear that a very small portion of the pilot group is in support of it.