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Old 12-08-2023 | 01:16 PM
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Originally Posted by Nick Bradshaw
I put these two quotes together so that maybe you'll understand. The 4th pillar was min balance for those of us who got our pensions stolen, not a 2% DC boost for junior who has lots of time to save.
When were you hired? And how long were you furloughed?
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Old 12-08-2023 | 01:17 PM
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Originally Posted by Nick Bradshaw
So did 9/16 of the MEC, apparently. That lady sure was scary!

Doesn't matter what we were promised. But I guess thats water under the bridge now. We'll just take it through Congressional action.
can you remind me of the date on which you were “promised” a minimum balance concept? I need to search my Union email archive for that
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Old 12-08-2023 | 01:33 PM
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Originally Posted by Nick Bradshaw
So did 9/16 of the MEC, apparently. That lady sure was scary!

Doesn't matter what we were promised. But I guess thats water under the bridge now. We'll just take it through Congressional action.
Who promised what? When?
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Old 12-08-2023 | 02:02 PM
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Originally Posted by Nick Bradshaw
I put these two quotes together so that maybe you'll understand. The 4th pillar was min balance for those of us who got our pensions stolen, not a 2% DC boost for junior who has lots of time to save.
The minimum balance was an imaginary program designed to keep the “Deadzoners” quiet during negotiations. It never existed anywhere else, and likely never will. The votes were not there to hold up negotiations for it in 2019, and certainly not after the VEOP. Anyone who thought there was a chance of it surviving to at TA was a fool.
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Old 12-08-2023 | 02:22 PM
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Originally Posted by bugman61
The minimum balance was an imaginary program designed to keep the “Deadzoners” quiet during negotiations. It never existed anywhere else, and likely never will. The votes were not there to hold up negotiations for it in 2019, and certainly not after the VEOP. Anyone who thought there was a chance of it surviving to at TA was a fool.
Thats not a nice thing to say about our resident chit chatters 😂
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Old 12-08-2023 | 02:22 PM
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Originally Posted by Nick Bradshaw
So did 9/16 of the MEC, apparently. That lady sure was scary!

Doesn't matter what we were promised. But I guess thats water under the bridge now. We'll just take it through Congressional action.
Thank goodness subsequent generations have learned exactly what a “promise ” is and what it isn’t!

For those of you new to negotiations, one side doesn’t write what they want, and then just have the other side sign off “good to go”! So when your representatives lay out their “goin’ in game plan” dream sheet and you interpret that as a “promise” of an eventual end-state, prepare to be disappointed. But then you can have righteous indignation that you were lied to, or abandoned, or strong-armed, or forgotten about, or ignored, or disenfranchised, thrown under the bus, or you were a victim of mob rule, or you were part of (or beaten by? I forget who’s who) the silent majority, or even that you were discriminated against! Thence…put together a frivolous law suit and waste your out years yelling at clouds and share your sob story with an audience who isn’t listening.
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Old 12-08-2023 | 03:05 PM
  #57  
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Originally Posted by Nick Bradshaw
So did 9/16 of the MEC, apparently. That lady sure was scary!.
Of course, 5 of the 8 ultimately decided it was a good enough deal and changed their minds, making the actual, real, no kidding it matters vote 14/3.

But you knew that, of course.
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Old 12-08-2023 | 04:02 PM
  #58  
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Originally Posted by TED74
Thank goodness subsequent generations have learned exactly what a “promise ” is and what it isn’t!

For those of you new to negotiations, one side doesn’t write what they want, and then just have the other side sign off “good to go”! So when your representatives lay out their “goin’ in game plan” dream sheet and you interpret that as a “promise” of an eventual end-state, prepare to be disappointed. But then you can have righteous indignation that you were lied to, or abandoned, or strong-armed, or forgotten about, or ignored, or disenfranchised, thrown under the bus, or you were a victim of mob rule, or you were part of (or beaten by? I forget who’s who) the silent majority, or even that you were discriminated against! Thence…put together a frivolous law suit and waste your out years yelling at clouds and share your sob story with an audience who isn’t listening.
This made me laugh because that is exactly what happened. I will grant you that it was near the end game and the true catalyst was the arbi…. um media…. Scary lady. I’m over it and I’m fine with this PWA but history is history. I also think management had thier fingers crossed behind their backs. They sold their supposal as more than they planned to implement. They just needed time sans oversight to further shape the deal.
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Old 12-08-2023 | 04:50 PM
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Originally Posted by notEnuf
This made me laugh because that is exactly what happened. I will grant you that it was near the end game and the true catalyst was the arbi…. um media…. Scary lady. I’m over it and I’m fine with this PWA but history is history. I also think management had thier fingers crossed behind their backs. They sold their supposal as more than they planned to implement. They just needed time sans oversight to further shape the deal.
As you alluded to, the final deal that became our TA was of course passed across the desk and we signed it. By definition, that’s how a final exchange always ends up. But the “promised 4th pillar” the minority is angry about references the initial broad structure of negotiations priorities from pre-covid. And if I’m being honest, they hit a solid triple when it comes to my retirement pillar, having made my employer contributions industry-leading and ultimately provided a tax advantaged avenue for additional retirement dollars beyond anything I’ve ever had. I sure don’t see any broken promises myself, and I’m glad the scary lady made the company cough up hundreds of millions more than they had in the days and weeks leading up to our eventual agreement. Judging by the ratification vote, the masses seem to agree.
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Old 12-08-2023 | 05:27 PM
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Originally Posted by Jughead135
From the FAQ on Fidelity’s site:

What is the investment portfolio for the MBCBP? How are the funds held?

The investment strategy for the MBCBP will target an allocation of 40% to global public equity markets in a manner similar to the MSCI All Country World Index, and 60% to U.S. intermediate bonds in a manner similar to the Bloomberg US Aggregate Bond Index. The MBCBP assets will be invested in a Collective Investment Trust (“CIT”), which is a pooled retirement investment vehicle only available to a qualified retirement plan that offers benefits not available via a traditional mutual fund.
"will target" and "similar to" don't explain Jack ****.
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