Malone Divides = We Subtract
09-03-2016, 03:52 AM
#111
Gets Weekends Off
Joined APC: Sep 2014
Posts: 4,946
Due to it being completely tax exempt and an account for health related expenses it does not go into your estate which is taxed.
If a pilot passes away the benefits go to the spouse. The spouse passes then it goes to dependants. ALPA should have no problem getting future approval for a pilot to designate beneficiaries once dependants are no longer eligible.
If a pilot passes away the benefits go to the spouse. The spouse passes then it goes to dependants. ALPA should have no problem getting future approval for a pilot to designate beneficiaries once dependants are no longer eligible.
Where is the evidence concerning ALPAs ability to get approval for something in the future?
Why don't you mention the cap to deposited funds and earnings will pass to beneficiaries?
09-03-2016, 04:07 AM
#112
Gets Weekends Off
Joined APC: Jul 2007
Position: Left seat of a little plane
Posts: 2,415
Yeah, the same agreement that was widely described as a "POS"...until it wasn't. Only in Internet message board la la land is this deemed thoughtful, rational discourse.
09-03-2016, 04:58 AM
#113
Straight QOL, homie
Thread Starter
Joined APC: Feb 2012
Position: Record-Shattering Profit Facilitator
Posts: 4,202
Originally Posted by LeineLodge[/QUOTE
There is absolutely no TA these guys, OUR guys, could achieve that would not be met with a wave of social media outrage. .
Was there a "wave of social media outrage" for the UPS or SWA deals? For Allegiant's 40% pay increase? No, there wasn't. Because their "guys" fought and didn't cave in.
There will be no outrage if our "guys" fight the good fight. Right now, Malone is fixated on a quick deal. Unsat.
09-03-2016, 05:22 AM
#114
Gets Weekends Off
Joined APC: Jun 2015
Posts: 3,127
Just curious where you got the $11M number? I'm pretty sure the 2016 Federal Estate and Gift Tax exclusion is $5.45M. Any amount over that would be subject to the estate tax. However, if you are married, you could use your unlimited marital exemption and transfer any and all of your estate valued above $5.45M to your spouse "tax free." Upon his/her passing, his/her estate would be subject to the $5.45M exemption (as adjusted by Congress in future years). Of course, estate planning attorneys and CPAs have lots of "tricks" to minimize the impact, and, with time, to eliminate exposure to the estate tax but that is a whole other boring topic/thread.
Last edited by FL370esq; 09-03-2016 at 05:23 AM. Reason: typo
09-03-2016, 05:24 AM
#115
Gets Weekends Off
Joined APC: Feb 2007
Position: M88 B
Posts: 399
Due to it being completely tax exempt and an account for health related expenses it does not go into your estate which is taxed.
If a pilot passes away the benefits go to the spouse. The spouse passes then it goes to dependants. ALPA should have no problem getting future approval for a pilot to designate beneficiaries once dependants are no longer eligible.
If a pilot passes away the benefits go to the spouse. The spouse passes then it goes to dependants. ALPA should have no problem getting future approval for a pilot to designate beneficiaries once dependants are no longer eligible.
Until a firm ruling from the IRS is at hand, it would be stupid too vote this in for someone like me.
I have a feeling this one aspect will sink any forthcoming TA. People who have many years here are not going to vote for something where they have a few hundred thousand dollars at stake and only 50,000 is protected. That is the CURRENT IRS limits, now we are suppose to HOPE the IRS changes it for a Delta VEBA? Big if in my book.
It should be easy to add a VEBA at anytime after you have concreate answers to these questions from the IRS, not hypotheticals!
09-03-2016, 05:26 AM
#116
Gets Weekends Off
Joined APC: May 2012
Posts: 1,418
Thanks for the input ark May. I'm so looking forward to your Chit Chat posts. First, you'll come out with vigor debating why we should not vote for TA15, version 2. You'll go on for a few weeks, making about 100 posts to stir up the group. But alas, just a short time later...your mood and opinion will make a 180. Then I'll have to read thru around 100 posts, the first 30 of which refute your previous 100 posts, the last 70 telling us why we should vote yes, selling QOL provisions of our PWA in order to buy what will be about industry standard pay rates, all of that before oil goes to 212$ a barrel, and the next Black Swan rains down upon us! Can't wait to read your 200 posts, I need something to kill time during my 30 hour layovers!
But. no worries. I'm the majority will know what to to when presented with what is shaping up to be a pretty good deal.
09-03-2016, 05:59 AM
#117
Gets Weekends Off
Joined APC: Sep 2013
Position: On the hotel shuttle
Posts: 5,840
09-03-2016, 06:08 AM
#119
Gets Weekends Off
Joined APC: May 2015
Position: Power top
Posts: 2,959
Was there a "wave of social media outrage" for the UPS or SWA deals? For Allegiant's 40% pay increase? No, there wasn't. Because their "guys" fought and didn't cave in.
There will be no outrage if our "guys" fight the good fight. Right now, Malone is fixated on a quick deal. Unsat.[/QUOTE]
PD,
I'm not happy with any concessions. I've voted no the last 2 contracts, and I'm not a chronic no voter.
I don't believe there is a "new" guy that some of us would ever be happy with. Some guys would be burning an effigy of George Washington if he was leading this goat rope of a union.
JM ran on restoration, and moved to the middle, no doubt. He will never get the support or vote of the far right. Many of us are now marginal voices. 50% will vote for anything. 1% will make a TA pass.
I'd be willing to bet, that you, PD, would not achieve what you would vote for. I couldn't either. Why JM jumped into this mess is beyond me. Thankless job. He's not a shill and some guys are making some pretty crappy statements regarding his motives and character. He's a level headed and pretty good guy.
09-03-2016, 06:16 AM
#120
Gets Weekends Off
Joined APC: Sep 2014
Posts: 4,946
Just curious where you got the $11M number? I'm pretty sure the 2016 Federal Estate and Gift Tax exclusion is $5.45M. Any amount over that would be subject to the estate tax. However, if you are married, you could use your unlimited marital exemption and transfer any and all of your estate valued above $5.45M to your spouse "tax free." Upon his/her passing, his/her estate would be subject to the $5.45M exemption (as adjusted by Congress in future years). Of course, estate planning attorneys and CPAs have lots of "tricks" to minimize the impact, and, with time, to eliminate exposure to the estate tax but that is a whole other boring topic/thread.
My point was that many pilots' estates won't exceed a threshold at death that trigger taxes for beneficiaries, so the tax-free passing of VEBA monies didn't seem to be a significant benefit of the program. Of course, VEBA offers other benefits but at the moment it seems a little fuzzy to be something voted on any time soon.
Thread
Thread Starter
Forum
Replies
Last Post
