Originally Posted by
busdriver12
............
But don’t consider the current A plan to be worth nothing. It’s still worth a lot, like having a 2.5-3 million dollar annuity. For me and my spouse, we’re getting 290K per year till age 67 (SS leveling option) which pays the bills. Forget the dicey pancake plan, get the B plan increased. The pilots always get screwed when it comes down to the fine print.
This mind set prevailed during the lead up to contract 2015. With no increase in the A plan last time, the majority considered a 1% increase in the B plan, with a further 1% in year 4, an acceptable compromise to a static A plan. Do the math, if you make 300K, that's an additional $3000 per year the company came up with per 1%. Over 6 years, if you averaged 300K, Fedex included a whopping 24
thousand dollars! increase to your B plan bank over the course of that contact. Oh course you might have received more, having worked a lot more, but still would have been subject to the IRS caps Fedex loves to use to limited how much they will contribute to your total retirement.
Many here over the years have advocated for a just "show me the money" B plan only retirement, aka post bankruptcy airline type. The discussion about improving the caps on the A plan are all about decreasing the pilots personal exposure to retirement risk vs the new reality in America where most younger employees of (non government) employ are carrying all the risk. The dicey pancake plan ( a loaded opinion about a plan that no one here seems to know anything about but many know its a crappy deal) may or may not have the 100% no pilot risk that may here expect from the A plan, but as you know only too well, the company is dead set against improving the caps on the A plan as its currently written. Between a rock and a hard place. Give your union reps and the people tasked to negotiate, the benefit of the doubt that they are working for the best solution on your behalf. The options to pressure the company are limited, as much by the individual actions of your fellow crewmembers, as they are by laws that are increasingly hostile to collective bargaining. Good luck!