FedEx Pension Plan
 

I did not see anything that addresses the pension formula in this T.A. if the retirement age gets changed to age 65. The T.A. states when a pilot reaches his "normal retirement date" the formula kicks in. It does not specify age 60 or 65. We all know if you retire before age 60 (which is the normal retirement date now) you get penalized 3% for every year early. If they change the retirement age to 65 (which will become the new retirement date) do we take a 3% a year hit if we retire at age 60? The company must know it's coming because it is addressed in the LTD section and states you will get benefits there till age 65 now instead of 60. I can't seem to find anywhere that we can still retire at age 60 without taking a hit if the age 60 rule is changed to 65. Anybody know?

A very valid question. Well worth asking at the road show with the R&I reps.;)

I believe you will find that the "normal retirement date" is the first day of the month after you turn age 60. The age 65 change will at this time have no change. BTW the last Tiger contract allowed an unreduced early retirement at age 50 if you had 25 years service.

The last Tiger contract?*!
 

George ... YGTBSM, nobody on this forum (and I mean absolutely nobody) could give a flying #%^* what the last Tiger contract had in it.

And the Eastern, PanAm, Braniff, Ozark, (old UAL, DAL, US, NW) ..... contracts all had good stuff in them also. And what they used to have has no bearing on our current contract.

Come on George ... say something constructive for a change. If you're not part of the slution, you are part of the problem. Instead of bitching about ALPA ALL the time, how about volunteering your VAST expertise(oh wise one) and making the union better.

But, as always, thanks for your insightful input.

Regards,


Mark

PS, how long till you turn 60 anyway?

I happen to know one R&I rep not happy at all with the last week of negotiations. We'll see if they are singing the party line or willing to speak their minds.