Originally Posted by
FDX1
Wrong on both statements. It was in the TA if you read it (clearly you didn't). The MBCBP increases with IRS limits: I'll make it easy, I even made it bold in case you can't read through an entire paragraph>>>>>Summary: The MBCBP Pension is the definition of sustainable and actually increases with the IRC 401 limit. If our current pension had this, the entire issue would have been moot. More=Better, Sustainable=Indexes up with your income.
From the joint council meeting a few weeks ago, they showed us the survey results: News flash! The TA was not rejected for retirement...that's what was explained in our meeting.(Scope and Pay were ranked the highest).
7. Benefit Accruals
a. Benefit Accruals under the MBCBP shall equal Compensation Credits
plus Interest Credits.
b. Compensation Credits under the MBCBP shall be 11% of
Compensation. Compensation Credits will be credited at least quarterly.
A Compensation Credit based on a Pilot’s Compensation for the period
will be credited as of the last day of that period or as of the pilot’s benefit
commencement date, if earlier.
c. Compensation shall be as defined in the Pension Plan, except as
follows:
i. Compensation used to determine Compensation Credits shall be
subject to the compensation limit under Code §401(a)(17), as
indexed.
Please define “sustainable”?
I think you’re taking the company’s perspective.
Why is the company willing to index the MBCB Plan cap to 401(a)(17) limits, but unwilling to index our current A plan to those exact same limits instead.
I think I (we) understand why, but I’m genuinely interested in your perspective.
What specific gains does the company make by switching to a MBCB Plan ?
(Note: It’s would have been mandatory for all future pilots. Zero choice)
What did the company trade us for getting these gains?
VR,
DLax
p.s. In capitalism, everything has a market clearing price. Everything. TA 1.0 just didn’t reach it