Changes to retirement funding
05-02-2018 | 04:33 PM
#1
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Joined: Mar 2012
Posts: 458
Likes: 1
From: 320B
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.
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.
Last edited by TurbineDriver; 05-02-2018 at 04:58 PM.
05-02-2018 | 04:44 PM
#4
Gets Weekends Off
Joined: Feb 2008
Posts: 20,869
Likes: 187
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 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.
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 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.
05-02-2018 | 05:01 PM
#8
Gets Weekends Off
Joined: Apr 2011
Posts: 5,816
Likes: 5
From: retired 767(dl)
05-02-2018 | 06:13 PM
#9
On Reserve
Joined: Mar 2016
Posts: 105
Likes: 0
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.
05-02-2018 | 06:35 PM
#10
Gets Weekends Off
Joined: May 2015
Posts: 2,960
Likes: 0
From: Power top
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?
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