Originally Posted by
CloudSailor
It was an absolute, 100% surprise to us line-flying chumps when the TA was released.
Keep in mind, our NC attempted to negotiate away our A plan in exchange for an unproven cash balance plan for a couple of years before Section 6 negotiations even began!!
During negotiations, when asked about the rumors about sunsetting the A plan, and the "Cheiron Scheme" cash balance plan, we were told by our NC and Reps that the rumors were false and to just sit tight and patiently wait for Retirement to be unveiled, it was going to blow our minds away. I guess it did.
another brown guy here. I am sure that the union leader ship between you guys and us have kept in contact. And hopefully your next NC comes on board well prepared.
One of our pilots posted on here the method used to lessen the financial burden to the company while maintaining an A plan. It is definitely worth reviewing that because I think we all would like to have a balance between an A plan and a B plan. Companies tend to say the A plan needs to go away because it is financial burden.
A lot of younger pilots believe the A plan is not worth having because of airline history, but what they are missing is that due to that history, the funding guidelines have changed dramatically. Pension plans cannot be nearly as underfunded as they were back in the day.