Changes to retirement funding
 

Why in the world would we as pilots ever consider giving control of our retirement money to the company again?

The union is looking at dropping our 401k contribution in exchange for a Variable defined benefit pension plan. No guarantees you would ever see that money again after a bankruptcy or if you were fired, the company gets bought, goes under etc.

Heck no!!!!

My favorite part about the 401k is it’s my money and I can invest it how I choose.

Let’s hope this gets voted dead ASAP.

Source??????

I laughed when they implied the DB plan's bankruptcy "security" because it is a qualified plan.

You don’t lose any earned and accrued retirement if your fired or quit. The only mechanism that could trigger that is a chapter 11 filing.

Hmm,

Three possibilities you list there. Of the three, which is the most probable for 99.99% of pilots on property?


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Union email.

My favorite part of the video is when she says “the Variable plan “reduces” the chance your pension could be lost in bankruptcy.

Mmmmm....

The minute I saw the title I got my little stool out and tied the noosed rope around the drain pipe. Where the guys got hammered was the bridge plan and unqualified schemes. The original Delta plan was controllled by the pilots and it was fat. However, if the pilots hadn't given the money up for the NE aquisition and massive 727 purchases, you wonder wether DAL might not have ended up like BNF. I still think it is like letting the dog guard your ice cream.:eek:

Not looking to create a fight here but who wants this? Every newish guy/gal I know definitely doesn't want a pension. It's all the guys/gals within a few years of retirement that want it. I understand the being made whole thing, but this doesn't seem smart. Why is this being seriously considered and what am I missing?

Source? You don't know what senior guys want. We don't know.