New Contract Opener 22 Dec 15
12-23-2015 | 06:40 AM
#41
Works Every Weekend
Joined: Dec 2007
Posts: 3,506
Likes: 0
From: 737 ATL
But if Delta has a choice to sign a contract that they know will result in the PBGC making them take the pension back, or NOT agree to a contract with that in it that will keep the PBGC as it is, which one do you think they will go for?
I'll bet that would be a huge no-go item for the company
I'll bet that would be a huge no-go item for the company
It might be worth exploring efforts to convince the PBGC that Delta has recovered financially to such an extent that restoration of the pilot pension plan is warranted.
Lobby the PBGC to restore our pension.
THAT would be money well spent by ALPA-PAC.
12-23-2015 | 06:48 AM
#42
Gets Weekends Off
Joined: Apr 2011
Posts: 5,816
Likes: 5
From: retired 767(dl)
I don't think Delta has to do anything "abusive" of ERISA to trigger a PBGC decision to restore the pension. They can do it at their discretion. As long as the decision to do so is not arbitrary or capricious.
It might be worth exploring efforts to convince the PBGC that Delta has recovered financially to such an extent that restoration of the pilot pension plan is warranted.
Lobby the PBGC to restore our pension.
THAT would be money well spent by ALPA-PAC.
It might be worth exploring efforts to convince the PBGC that Delta has recovered financially to such an extent that restoration of the pilot pension plan is warranted.
Lobby the PBGC to restore our pension.
THAT would be money well spent by ALPA-PAC.
12-23-2015 | 06:58 AM
#45
Racketeer
Joined: Mar 2015
Posts: 13,337
Likes: 822
From: N60.4858 W149.9327
DB pensions create a dependency on the company that promises them or the government. I want neither. The DC plan works but 20% over a career with 7% returns is needed to get to an equivalent of the old 60% FAE.
12-23-2015 | 07:34 AM
#46
Runs with scissors
Joined: Dec 2009
Posts: 7,847
Likes: 0
From: Going to hell in a bucket, but enjoying the ride .
Remember the Great Depression?
Remember 2008?
Think it can't happen again?
Think you can't lose your life's savings if it's tied up in stocks?
The airline bankruptcies of 2004 were orchestrated to allow for consolidation, unopposed by the government, funded by wall street, with our pensions flushed with the help of ALPA.
What was it Deep Throat said?
Follow the Money.
Where are our former ALPA leaders today?
Moak? Babbit? Woerth?
They all have pensions, we do not.
12-23-2015 | 07:39 AM
#47
veut gagner à la loterie
Joined: Apr 2008
Posts: 23,286
Likes: 0
From: Light Chop
I'm wit you on that. I don't see this company lasting 50-60 years as is.
12-23-2015 | 07:43 AM
#48
veut gagner à la loterie
Joined: Apr 2008
Posts: 23,286
Likes: 0
From: Light Chop
And don't forget, the DC plan creates a dependency on Wall Street, which is why most Unions went to a DB plan in the first place.
Remember the Great Depression?
Remember 2008?
Think it can't happen again?
Think you can't lose your life's savings if it's tied up in stocks?
The airline bankruptcies of 2004 were orchestrated to allow for consolidation, unopposed by the government, funded by wall street, with our pensions flushed with the help of ALPA.
What was it Deep Throat said?
Follow the Money.
Where are our former ALPA leaders today?
Moak? Babbit? Woerth?
They all have pensions, we do not.
Remember the Great Depression?
Remember 2008?
Think it can't happen again?
Think you can't lose your life's savings if it's tied up in stocks?
The airline bankruptcies of 2004 were orchestrated to allow for consolidation, unopposed by the government, funded by wall street, with our pensions flushed with the help of ALPA.
What was it Deep Throat said?
Follow the Money.
Where are our former ALPA leaders today?
Moak? Babbit? Woerth?
They all have pensions, we do not.
12-23-2015 | 07:47 AM
#49
Runs with scissors
Joined: Dec 2009
Posts: 7,847
Likes: 0
From: Going to hell in a bucket, but enjoying the ride .
Guess who insures their retirement plans?
So, before Delta spends billions on stock buybacks, they should buy us retirement plan annuities from AIG, Congress won't let them go under!
12-23-2015 | 07:49 AM
#50
Racketeer
Joined: Mar 2015
Posts: 13,337
Likes: 822
From: N60.4858 W149.9327
Where do you think the money is going at the rate of $1B a year to fund those who still have pensions? Wall street. Specifically 25% of AeroMexico now. If you have the money and the responsibility, then you can invest in REITs or individual stocks or bonds through the brokerage link etc. You have control.
Thread
Thread Starter
Forum
Replies
Last Post
