Malone Divides = We Subtract
09-03-2016, 01:15 PM
#141
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Joined APC: Dec 2015
Posts: 845
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?
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?
09-03-2016, 04:05 PM
#142
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Joined APC: Jul 2016
Posts: 95
But when they present one sided, best case, data to support the deal they are trying to get passed, it is a sales job of the worst kind.
09-03-2016, 04:09 PM
#143
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Posts: 95
But it falls in exactly the same spot on my list of wants.
It is just a distraction from the real job of getting us much needed improvement in health care and one more large failure of our NC.
09-03-2016, 04:58 PM
#144
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Joined APC: Aug 2007
Posts: 618
And I think it will be good for us to see the TA as a whole, if we ever get to vote on it that is.
09-03-2016, 06:02 PM
#145
Straight QOL, homie
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Posts: 4,202
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.
Back to your old, shilling ways I see. I called it months ago.
09-03-2016, 06:09 PM
#146
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Joined APC: Aug 2007
Posts: 618
Stop name calling. Don't call people a schill when you don't know them personally and have no proof what they are saying is even wrong!
Why is this a bad deal? How is anything in the VEBA video not factually true?
If you have magical information that we don't it would be great to hear. Don't go after a poster if you don't have information that can prove your point.
I see nothing in the VEBA that is a show stopper. I don't know why it is necessary, but its a small value add.
09-03-2016, 06:10 PM
#147
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Joined APC: Aug 2007
Posts: 618
FROM THE IRS:
IRC 501(c)(9) exempts from federal income tax the voluntary employees' beneficiary association (VEBA) providing for the payment of life, sick, accident or other benefits to its members (or their dependents or designated beneficiaries) if no part of the net earnings inures (other than through such payments) to the benefit of any private shareholder or individual.
So, there you go. They allow it.
09-03-2016, 07:05 PM
#149
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Posts: 5,621
I guess that depends upon your idea of reasonable. To me any amount >0 = unreasonable. As long as I can opt out of a VEBA, I guess I'm ok with it. However, since we are funding it, this seems like an item we could have acquired at any time (DALPA doesn't seem to have a problem doing side letters) and not wasted time during contract negotiations. I'll be more interested when the company funds it for us.
09-03-2016, 08:10 PM
#150
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Joined APC: May 2015
Position: A350 Both
Posts: 7,292
"Yeah guys, this particular part of the contract sucks".
Then what? If they justify it, you will call it a sales job, or capitulation, or surrender or...... I honestly don't see any way that the MEC can issue such a document and have any legitimacy in the eyes of those that have a 'con' bent to begin with. I guess what I am saying is there are those that need a reason to vote no, and those that need a reason to vote yes. So it seems it would be incumbent upon those that are inclined to vote no to produce the con paper to 'convince' the yes voters to vote no. But.... Their data would be suspect. Just as you are suspect of those that write the pro paper. So what do we do?
Help a bruddah out on this one.
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