Originally Posted by
Bucking Bar
Why would we not negotiate for ALL Delta pilots? Why is one group more special than the majority when those hired post-bankruptcy did not get a claim, note, PBGC, stock and an additional five years?
Help me understand Ryan's position on a special $$ bonus for a preferred Delta pilot.
He is trying to provide a roughly equal retirement benefit to all pilots. Kind of like when the company offered a flat 9% DC plan to all pilots plus the frozen DC plan. This provided senior pilots a bigger retirement benefit so the union in the interest of fairness elected to target the DC plan awarding senior pilots 0 to 2 or 3% while some junior pilots got as high as 18%. If the defined benefit plan were to be subsequently terminated the DC plan was supposed to be retargeted to make up that loss to senior pilots. When the defined benefit plan was in fact terminated retargeting the DC plan was deemed to unpopular and it went to a flat rate.