Was that other thread (Council 26 Message - Unpublished) discussing this same subject not going so well for Team Pancake that we needed to start a new thread? OK, fine. Shall we just copy and paste our comments illustrating the inferiority of the Variable Stability Pancake scheme from the other thread to this one?
Having asked those semi-rhetorical questions, I firmly believe informed, respectful debate is a good and healthy exercise. I, for one, appreciate kronan's input and opportunity to respond, debate, counterpoint, thrust and parry the merits of our various courses of collective action....even in a new thread.
So, I'll ante-up with the following food for thought which resulted from my independent quest for knowledge and understanding of this subject....
Both our ALPA-contracted financial advisor and my assigned Fidelity rep gave me their paid opinion on this matter. They told me that ending our existing A plan would "cast more uncertainty and questions on your retirement picture" and "open yourself up more for an unexpected and undesirable outcome." I desire to avoid both such consequences. Another quote that spoke volumes to me...."I wish I had a defined benefit plan such as yours and I imagine most everyone else would too."
Getting out my cutter and paster now to state again what has already been stated....any TA with pancakes will be Dead On Arrival.
This ill-fated endeavor (however well-intentioned) will have wasted our time (that we can never get back) and our money (which will necessarily be followed by MORE of our money), the resignation of our Negotiating Committee, the appointment of a new negotiating Chair and the obligatory time for him/her to spool up, more protracted negotiations with the Company, another TA, more road shows, more phase-in schedules (more delays from what is ours) and finally, after all this UNNECESSARY delay, a new contract in 2023 or 2024. All this because those in leadership have radar lock on dumping the most straightforward, tried, true, solid, calculable, predictable retirement plan available in exchange for one solely reliant on our ability to write ironclad language with no room for interpretation, no loopholes, no wiggle room and not susceptible to accounting "tricks" all the while being critically exposed to market timing because they don't think they are capable of negotiating what their constituents are demanding (hiding behind the leading questions of our member surveys). No thank you.