Originally Posted by
Daniel Larusso
Why let actually reading the articles get in the way of a good drive-by?
I read the articles must have missed the USAIR paragraph, perhaps you could enlighten me. Did you read the articles or is this your attempt at a "drive by"? Or are you saying any concerns anyone has for possible loss of pension from an airline's DB plan is silly as it can't happen here and these articles prove it.
Oh wait is this what you meant:
"Unlike defined benefit plans,
no pilot has had a dollar lost in a defined contribution plan during an airline bankruptcy."
Thanks that does help.
Originally Posted by
Tuck
When did I say FICA wouldn't go bankrupt? I'm not counting on that at all. But I am counting on my military pension and my FDX pension in some form. Heck I'd say your Fedex pension is about as safe as your military. There's nothing saying Congress couldn't change that military pension tomorrow and it's only budgeted for the current year. At least the Fedex pension has specific funding requirements and probably greater protections in the eyes of the court than your military pension. My point in this wasn't to paint a dreamy picture but to stop having guys just throw out the terms "until Fedex drops my pension" - it's not that simple. Rather than mindlessly ranting about it here, at least take the time to read up on the facts. Heck, I wish some of our R&I guys would put out a column like the earlier mentioned one in one of our union publications to better inform the membership.
I consider my military pension as safe as a Greek school teacher's. FICA and Military retirements are kept in the same lock box.