Changes to retirement funding
05-06-2018 | 09:04 AM
#81
Gets Weekends Off
Joined: Mar 2016
Posts: 1,906
Likes: 0
From: Here and there
First of all...I didn't say anything about DB restoration. Even though I'll be retiring soon, I'm not interested in that either. Second, I did say improved healthcare was a worthwhile goal. I also acknowledged that the pilots with Tricare are not a majority. The main point of my post was that not every pilot needs it as you said in the post I quoted. So...just like you said it doesn't benefit YOU to expend negotiating capital on a DB, it doesn't benefit the Tricare group (yes, a minority) to expend negotiating capital on medical benefits. As I said in my first post...one man's trash is another man's treasure. That's why the majority will eventually iron out the details. It's been that way for a long, long time and I'm OK with that too. You have a nice day now.
All this boils down to you quoting me as saying the “whole” pilot group when I didn’t use the word. I said it would benefit the pilot group but should have said the “majority of the pilot group” or something like that. That said, if we were some how able to secure health plans even better than Tricare then it would most likely benefit the entire group. However, I believe that to be as probable as full DB restoration.
It’s semantics really as we actually agree on the substance.
Hope you enjoy you day, too.
05-06-2018 | 09:48 AM
#82
Gets Weekends Off
Joined: Jul 2014
Posts: 429
Likes: 0
I'm for increasing the DC up to the point where the company almost maxes it out for me and I'd love to see the HSA company contributions increased as well.
The problem is that the IRS determines the maximum we can put into these two tax advantaged account types. Is there any way to lobby to get these limits increased? Or are there other POST-TAX (but tax advantaged) vehicles that are not limited by 415(c) that can be our money, in our name?
I'm already doing as well as I can with the HSA, 401(k) and 401(k)ROTH accounts, protecting my earnings from taxes either now or later. I'm just thinking of options for MY money.
The problem is that the IRS determines the maximum we can put into these two tax advantaged account types. Is there any way to lobby to get these limits increased? Or are there other POST-TAX (but tax advantaged) vehicles that are not limited by 415(c) that can be our money, in our name?
I'm already doing as well as I can with the HSA, 401(k) and 401(k)ROTH accounts, protecting my earnings from taxes either now or later. I'm just thinking of options for MY money.
05-07-2018 | 09:56 AM
#83
Line Holder
Joined: Jan 2006
Posts: 686
Likes: 12
From: Maddog FO
One glaring item missing from this discussion is the fact that many of the pilots fall into the "accredited investor" category. Those closest to retirement and clamoring most for a DB are those most likely to be in this group. This opens up investment options outside of the control of Delta, ALPA, Fidelity or Wall Street in general. All options presented and discussed so far fall under limited control of one or all of the above.
It behooves all of us to become familiar with ALL options available. Investing in real estate, private placement offerings, oil wells, etc should be under consideration. Relying on Delta, ALPA or any financial institution as your sole source of retirement is foolish. IMHO, we are better off stopping our retirement negotiation at 20% DC, so we hit the annual 55K limit. Put remaining negotiating capital into take-home pay for outside investment, better health care options and work rule improvements.
It behooves all of us to become familiar with ALL options available. Investing in real estate, private placement offerings, oil wells, etc should be under consideration. Relying on Delta, ALPA or any financial institution as your sole source of retirement is foolish. IMHO, we are better off stopping our retirement negotiation at 20% DC, so we hit the annual 55K limit. Put remaining negotiating capital into take-home pay for outside investment, better health care options and work rule improvements.
05-08-2018 | 03:52 AM
#84
Gets Weekends Off
Joined: Dec 2007
Posts: 6,137
Likes: 194
One glaring item missing from this discussion is the fact that many of the pilots fall into the "accredited investor" category. Those closest to retirement and clamoring most for a DB are those most likely to be in this group. This opens up investment options outside of the control of Delta, ALPA, Fidelity or Wall Street in general. All options presented and discussed so far fall under limited control of one or all of the above.
It behooves all of us to become familiar with ALL options available. Investing in real estate, private placement offerings, oil wells, etc should be under consideration. Relying on Delta, ALPA or any financial institution as your sole source of retirement is foolish. IMHO, we are better off stopping our retirement negotiation at 20% DC, so we hit the annual 55K limit. Put remaining negotiating capital into take-home pay for outside investment, better health care options and work rule improvements.
It behooves all of us to become familiar with ALL options available. Investing in real estate, private placement offerings, oil wells, etc should be under consideration. Relying on Delta, ALPA or any financial institution as your sole source of retirement is foolish. IMHO, we are better off stopping our retirement negotiation at 20% DC, so we hit the annual 55K limit. Put remaining negotiating capital into take-home pay for outside investment, better health care options and work rule improvements.
*Standing Ovation*
This post should be distributed to all Delta Pilots.
Post of the Year Candidate
05-08-2018 | 06:23 AM
#85
Thread Starter
Line Holder
Joined: Mar 2012
Posts: 458
Likes: 1
From: 320B
Another email came out from the union this morning. “Enhancements to retirement savings are a focal point for C2019”.
It sounds to me like the union is spending a lot of time and effort focusing on getting a pension.
Phone polls are going out this week. They also asked that we contact our reps with feedback.
Please do this everyone. We need our voices to be heard.
It sounds to me like the union is spending a lot of time and effort focusing on getting a pension.
Phone polls are going out this week. They also asked that we contact our reps with feedback.
Please do this everyone. We need our voices to be heard.
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