TenYearsGone

Correct. But your Union will fight hard to reverse this . But first , Veba needs to be implemented with the upcoming PWA.

The sales job has begun. Go watch the VEBA video. The more they sell, the more I get sick.

VEBA is a scam!

TEN

NuGuy

......... And filler.

Sink r8

My rep says the MEC, admin, and NC have agreed to stop posting on social media, to stop slaughtering each other like a bunch of imbeciles, to the detriment of all.

Do you think it's true?

Trip7

How is the presentation selling? Which parts? Where is the scam?

GogglesPisano

VEBA, helping us save for retirement health care. Okay, that's nice and all but ...

Any thoughts on getting us better health care while we're still working, as in -- lower premiums, lower deductibles? You know, put the "Cadillac" in the Cadillac plans. VEBA seems like a distraction from the tough job of fighting for better insurance.

And that presentation on the Facebook page was awful.

Sink r8

I was pretty amazed to see that of all the things Delta pilots want, a VEBA was high on the list. Kind of tells you about how well this MEC is taking input. I would MUCH rather see good medical coverage today.

Focus plus, I guess.

Nonetheless, the VEBA has the potential for being a good thing with some rather strict limitations and caps. There are a lot of guys that might not be able to spend their entire VEBA in the course of their retirement, in combination with their spouse of course. This isn't really a cost item for the company, so I think we can possibly solve that one as we go. As I understand it, it's a pet project for some on the NC and some of the reps. I guess the cost of getting a sausage made is a little rat meat?

Trip7

Correct, as of now all cash over 50k is forfeited to the plan after death of you, your spouse, and when all dependents age out.

Incorrect that the company puts ALL overage retirement contributions. Directly from the presentation:
"The PRV Board will determine contribution limits at the direction of the MEC, based on pilot input and IRC letter ruling, to ensure that the plan meets the needs of the Delta pilots"

Many are misinterpreting that all or a significant portion of their excess cash will taken away into VEBA and then a large amount of cash of 50k will disappear after death of you and your spouse.

The excess cash amount withheld will be reasonable and it's in our favor that it will be determined by DALPA not the company. The tax trifecta savings means at least a 30% return on investment from the start on your retirement health care savings. Instead of you getting $.70 cash for every $1 earned you get your whole $1 to grow tax free til retirement where you can then withdraw tax free(for healthcare expenses). Not even Buffet can get that kind of return.

GogglesPisano

I have no problem with the VEBA. Great idea. But on my list of wants it's somewhere between better lounge chairs and vegan crew meals.

Trip7

There's the HSA plans. The company is giving folks a good bit of cash to get into that. Then you continue to fund it with at least the difference you would pay on the "Cadillac" plan and you have a great deal. Huge tax bennies

JamesBond

don't you know that anytime the union presents information it is a sales job?

The union needs to produce a TA, then spend all their time telling us all why it sucks.