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Originally Posted by Gunfighter
(Post 2914551)
Sad, but there is a lot of truth in that statement.
They are laser focused on success. The old guard is just 11 or 12 whiners who are ****ed they got voted out. Go to an MEC meeting. Just great volunteers doing an outstanding job. No drama. |
Originally Posted by sailingfun
(Post 2914564)
I think his point was that for the vast majority of pilots any increase in DC plan contributions is simply a pay raise. The MEC to their credit has looked outside the box trying to find solutions to that issue. Almost every option discussed was blasted by the pilots on this forum.
A 4 year MD88B should pull in about 230,000 a year assuming 1050 credit hours a year and PS. I suspect 1050 credit hours is below the system average. That puts the company contribution at 37,000 a year. A 8% 401K contribution would get you near the limit. |
Originally Posted by Kjazz130
(Post 2914583)
Just like starting an IRA for your children at birth.
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Originally Posted by Kjazz130
(Post 2914583)
Your right, for the majority of pilots it would be a straight pay raise and I get that. But, you can’t argue the value of maxing out in the early years. Just like starting an IRA for your children at birth.
I have not credited 1050 any year here. If you live in base and do some GS’s maybe that is normal. A straight pay raise is still good value. If you add the HSA max and the retiree medical and lower our medical insurance premiums I would call that a win on retirement. Even if it is a straight pay raise, I would still prefer that to any of the alternate vehicles that ALPA has proposed. Personally after maxing the 401k my next goal is saving for college. And even if I didn’t have kids I would much rather take the “pay raise” and invest it elsewhere to stay away from the MBCBP. |
Originally Posted by Der Meister
(Post 2914607)
Your math of 230k a year is a wee bit off... 1050x158=166,000 That's only a shortfall of 64,000. In order to get that 64k, profit sharing would have to be a 38% and that hasn't even remotely happened once.
So, the math isn’t totally terrible, but it doesn’t add up to maxing out 401K purely on DC. My limited discussion with the NYC leadership indicated that ALPA has an ask and a target for a larger DC contribution number so that a bigger portion of the pilot group hits max 401K without any out of pocket. I won’t quote the number, both for sake of not getting it wrong and because it isn’t a done deal by any measure. No out of pocket for a bigger chunk of the pilot group is an admirable goal. The corollary goal was an additional tax advantaged retirement vehicle (in your name) for those that exceed the max 401K via company contributions. I think both goals were reasonable and reasonably attractive. Time will tell if one or both come to fruition. I agree with Scoop that I would like to see a balanced approach to negotiating with the company, and that when an agreement becomes available, that the pilot group will be able to weigh it, voice their opinions, and the collective wisdom of those that have an open mind will probably carry the day. |
Originally Posted by gzsg
(Post 2914620)
This doesn’t exist at all. Our DALPA leaders are very young and junior.
They are laser focused on success. The old guard is just 11 or 12 whiners who are ****ed they got voted out. Go to an MEC meeting. Just great volunteers doing an outstanding job. No drama. The statement wasn't about the specific members of DALPA, rather his original statement was about the militant factions that would rather see the other opposing side fail than succeed. Some are so hungry to be right, that they don't care about winning. |
Originally Posted by Cogf16
(Post 2914629)
Again, just spitballing here about retirement. How about we determine a monthly dollar value(like a DB) that each pilot should get at retirement. Say 4K a month in today's dollars. Dont touch the 401K or PBGC. The real work is doing this for the 64 yr old and the 27 yr old, and everybody inbetween. Me personally, I'm within 5 years of retirement so I would require a lot more now than the guy who has 30+ years left. Thoughts???
No. (appreciate your attempt to split the difference, however) I don't much care what's in the next contract, but I'll vote "No" on any contract that stipulates retirement money that isn't directly and immediately put under my name, and my personal control. |
401k contributions, bit of an uneven measurement. We talking company funding the whole thing, or maxed out because I max out my portion? I’ve been able to make my max contribution ever year, but I have a military pension coming in too. 35yo married pilot with 4 kids coming from regionals....very likely can’t. But they also have a decade longer to save at Delta pay rates than I did. But I have tricare and don’t have to pay medical. I’m a commuter and want 30 hr layos so I can stack trips and minimize number of times I have to commute each month...
No real point other than when it comes time to vote, each pilots decision is very much a product of their own unique set of circumstances. |
Originally Posted by Kjazz130
(Post 2914583)
Just like starting an IRA for your children at birth.
Originally Posted by Gunfighter
(Post 2914636)
Have you found a way around the earned income requirement? Asking for future grandchildren.
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Originally Posted by GucciBoy
(Post 2914669)
If he’s found it, I’d love to hear it. I don’t think he has, though.
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