purplepilot

Nuggett#69,

Are you freakin crazy?!?!?!? I can't believe ANYONE would even mention giving away or negotiating away our pension!!!!!!! What are you thinking here? That plan is worth it's weight in gold. We need to concentrate on not only keeping the A-plan but also improving the B-plan. Why should we have to give up anything? This is the problem. Why is the mentality around here that we have to give up anything? Purple is one of the most prosperous and profitable companies on the face of the earth and we, as pilots, contribute GREATLY to their success!! We need to stand together to protect all we have and not "voluntarily" give up all we have. Once you give something up in this industry you NEVER get it back.

Huck

NWA just froze it. You kep whatever benefit you have earned up until that point.

Albie I think you may have found your first campaign issue.

My pension is worthless to me, after watching what happened to my uncle at UAL. And our turn in the barrel's next.

Memphis is chock full of Wharton MBA's that get up every morning looking to cut labor costs. Can you imagine the erections they got when they saw major airline pilots lose their pensions? Can you imagine any scenario where they don't try that sometime before you die? And that's if the company even survives that long (i.e. Pan Am, Eastern, etc....)

md11phlyer

I would negotiate away our pension for a buyout, a transfer to a Roth and an increased B-plan. That is because I am young and junior and will never see the pension. Voluntarily changing the A-plan to something that is more reasonable long-term is not concessionary IMHO.

Huck

You can't give up what ain't yours.

You own your B fund. Your pension is there at the pleasure of Fedex, and can vanish when they want it to. Ask a Delta guy, or USAir, or United, or....

It is not a concession to bargain away something vulnerable for something safe.

purplepilot

GUYS, THOSE OTHER AIRLINES WENT INTO BANKRUPTCY. THAT IS WHY THE PENSIONS ARE GONE. FEDEX IS NOT GOING TO GO BANKRUPT. I KNOW HOW IT WORKS, I USED TO WORK FOR ONE OF THEM. LOOK, A GOOD BUDDY OF MINE JUST RETIRED FROM PURPLE. HE IS GETTING $10,000+ A MONTH JUST FROM HIS A-PLAN. YES, HE HAD 30 YEARS IN. NOW TELL ME, HOW MUCH WOULD THEY HAVE TO INCREASE THE B-PLAN TO EQUAL THIS PAYOUT? MY POINT IS, WITH THE FINANCIAL STRENGTH OF FEDEX, WHY IN THE WORLD ARE YOU ALL TALKING ABOUT GIVING UP ANYTHING? I DON'T CARE HOW MANY YEARS YOU HAVE LEFT, YOU DON'T WANT TO LOSE THE A-PLAN. LOOK AT AMERICAN AIRLINES FOR EXAMPLE. THE HAVE THEIR A-PLAN IN TACK AND PRETTY WELL FUNDED BY THE COMPANY AND AN 11% B-FUND AND A 401K. DO YOU THINK THEY MAKE ANYWHERE NEAR THE PROFIT THAT FEDEX DOES? THE ANSWER IS NO!!!! tHE ARE JUST NOW MAKING MONEY AFTER 6 YEARS OF BEING DEEP IN THE HOLE. FOR CRYING OUT LOUD, WE DON'T NEED TO GIVE UP ANYTHING. ALBIE, HELP ME OUT BROTHER. WE ARE GOING TO BE OUR OWN DEMISE AS A PILOT GROUP IF WE DON'T CHANGE OUR MENTALITY.

fdx727pilot

Hey dude, I agree with your point, but stop screaming.

purplepilot

Dude, I can't help but get angry when I hear folks talk about giving up stuff. Why? We don't need to give up crap. Purple and Brown are the best of the best in this profession that has gone south since 9/11/01. Let's not ruin it for us and the people yet to be hired. Ok, I'm done.......for now.

groggy

Bottom line, save your own money for yourself. That is what all of us 30-somethings will be relying on in 30+ years. Doubtful that FDX will end up where the legacy carriers did, but that A-fund is sure not in my name.

And will there be a B-fund anyway....once they change that retirement to 65? I see it fizzling away. It defeats the purpose if pilots can then retire at 65. There is no need for that bridge. I am probably missing some details here...please enlighten me if necessary.

There is absolutely NO calculation for my own retirement that includes an A or B fund allowance.

However, I completely agree that we must continue to work to increase A and B fund benefits....and not give up.

hschol

The A-plan should not be thought of as a bargaining chip, like the rest of our contract is. No amount of so called money in our hand could come close to what the A-Plan is worth. The A-Plan is ours, all of ours, weather old or young. The only way management can steal this from us and our families is, if we negotiate (give) it away or bankruptcy. Bankruptcy was used as a tool by UAL and DAL to steal. As Purplepilot said, AA still has theirs and will. Smart/lucky investing on their part. We have very very smart money managers here, this company knows how to make money! Remember, even in their Hay Day, The Legacy Carriers did/will not come close to what FedEx makes. I am not saying choke the golden goose, but we can afford it, it is ours, and our families. It has been earned over our careers! We need to stay focused and united on this issue. Many here do not have pensions, I am not counting on it, but the A-plan is non-negotiable. If they want it, I am willing to shut it down! United Should have...

Albief15

I see no reason to voluntarily surrender the A plan. Union member or not, I also see no pragmatic reason to plan my life in 20 years from now around it being there. There is too much time between then and now...

The A-plan is non negotiable IMHO. The B plan is where we will need to fight like hell to hold on to what we have and increase future contributions. The looming age 60 changes give the bean counters lots of ammo to go after it.

The real way to work through all this is with some professional financial planners. I don't care if our money comes from 401ks, B plans, A plans, or "signing bonuses" every year. The point is that is comes from the company, is secure, and is under the control of the pilots to the max extent practical or monitored by a trusted third party.