[TOPIC=VEBA]
Originally Posted by
fdx727pilot
The way I read the contract, from the sections quoted above, every pilot (no matter what your current health care elections, or future intentions) will have a monthly $0.50 per credit hour deduction to fund the VEBA. My question is if it is out of the Section 3 pay rates, or does the Company raise the Section 3 rates by $0.50, then deduct that as your VEBA contribution.
I read it the same way. All pilots will contribute. I believe the 50 cents per hour comes out of the rates printed in the contract. I recall from the Briefings we got that the pay rates were negotiated with the extra 50 cents "built in."
Originally Posted by
fdx727pilot
So basically, from here on out, we are funding the VEBA for retirees out of our current pay. Kinda like our own personal medicare system! And, yes, only those 53 or older will get to use the VEBA, after retirement. It has nothing to do with an active pilot over 53, who can get a HCSA card under the new system. According to the road show, 53 and over is everybody who will probably retire under the current contract. Future retirees (younger than 53 now) will have to be negotiated at the next contract.
Our own medicare system that kicks in before we're medicare eligible. It will bridge the "gap" that exists for retirees that are not yet eligible for Medicare.
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