This is easy for me. I would have voted no on a TA that made this mandatory. Thus, I’ll be opting out.

with just over five years to go….I will be opting out. I don’t see where the tax benefit outweighs the flexibility to do what I choose with that money.

Will they be forced into it, or will they be given a chance to opt out in indoc?

"In addition, similar to the 401(k) auto-enrollment, all pilots hired on or after June 1, 2023 will be automatically enrolled in the MBCBP."
Go read the email.

The benefit for those close to retirement that I see is the amount put in must equal the amount available at retirement. In your situation it is a place to put money that is guaranteed not to lose face value. not saying you should use it, just that that is the benefit I see.

totally understand you not wanting to use it though. It’s a guaranteed low return.

This thread is proof positive that you should never take financial advice from pilots. There are numerous issues with the conclusions that most of the opt out folks are making.

It’s not worth debating people on the internet who insist on making big life decisions with an incredible lack of due diligence, but anyone on the fence on this decision should seek the advice of a financial advisor. There is a reason that the highest income earners all gravitate toward these plans, and it has nothing to do with their inability to beat the expected returns of this plan in their brokerage account.

DYODD and don’t let an anonymous web board talk you into a very costly irreversible decision.

I’ll also add that there are no doubt pilots who have legitimate reasons to opt out and will be better off by doing so, but I’ve yet to see a single example discussed in this thread.

I'm curious, if the opt out rate is well over 50% for those hired in the last 10 years if the union will find a way to make it optional for new hires.

do whatever you think is right for you, but just a point, most examples I can find of high income earners who use this are self employed or work in a small business and thus have a much higher degree of control over where the money is invested. I have not found too many examples of this type of plan being used for over 10,000 people.

I bet if the opt out rate is high enough ALPA will miraculously come up with another opt in period. They probably got a portion of the management fees based on a predicted amount that would be going into the Blackrock account.

you have any evidence of this corruption or just throwing accusations out for the fun of it?