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Old 11-26-2023, 05:10 PM
  #27  
kronan
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Joined APC: Nov 2005
Position: 757 Capt
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Originally Posted by Nightflyer View Post
I am a senior Block 2 guy who voted no. I do not agree with the "Silent Minority" as described above. I believe the solution is a better retirement for all, and pay rates equal to the big 3, and real retro pay.

I confess I did not study the MBCBP, because I would not have chosen it. However the gains in the A plan were not enough for me. I would have wanted to see IRS limits for FAE or at the very least over 200k and no erosion in scope and pay equal to the big 3 and real back pay to the amendable date.

Oh, and the other give backs didn't sit well with me either.

I think the way to do this, is to give the young guys a retirement that would be equal to whatever the old guys are going to get, and the choice of which plan to take. I would think, but I don't know, that a large B fund with cash over cap and each person controlling their own investment and fund would be preferable to the MBCBP.

I stopped reading about MBCBP when I realized that the interest rate was not guaranteed, and that the company would control the investments. Both were deal breakers. Even the "pancake plan", which seems really similar to MBCBP, had a "floor" interest rate.

I hope this group can come together. I don't think we can, as long as our current NC chair remains in charge. I voiced my opinion, in no uncertain terms, on both recent surveys that he should be replaced, but the "silent minority" is against that, so I am against them.

If TA 1.1 is substandard, I do not have a problem voting no again.

I would hope that the MEC is smarter this time around, but I am afraid the "silent minority" is arrogant and learned nothing from their recent poor judgement.
The pancake plan had a floor rate in that returns below that rate were retained by the company...all that was truly guaranteed was the notional 2% contributions. For the MBCBP, value that was guaranteed was the notional 11% contribution.

The 6.5% retirm the updated modeler projected simply mirrored the expected rate our current pension trust is forecast to return at.

There was some consternation that the actual pension trust returns, over the past year were at 5.7%. So, yes, in the absolutely worst bond market performance in like foreover...our Pension trust didn't actually return the 6.6% it's modeled at. One thing I can predict is that "we" didnt go 100% cash and the likely investment choices the various groups we have managing our current pension trust is going to have the pensiont trust performaning greater than expected over the next few years
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