Veba removed
We must be getting ready to have a TA presented. The company and ALPA agreed to remove the veba. According to the ALPA email there were some issues with Veba's that they didn't understand! No crap, sure makes me feel confident with the rest of the upcoming agreement!
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A positive step. I think a VEBA could be implemented, in a stand-alone LOA, AFTER a serious consultation with the group, and with some serious conditions and restrictions.
For example, it might be voluntary in fact, not just in name. |
I think the VEBA was ok at $1 per hour. Where it went bad was the possibility of losing all the 415 excess money to it. According to the UPS vs DL retirement calculator, investing the 415 excess was what got us close to equal retirement FAEs. Losing that 415 excess to VEBA would really hurt our retirement savings, especially for those with Tricare who will not need $500K+ in a VEBA.
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Originally Posted by Sink r8
(Post 2207589)
A positive step. I think a VEBA could be implemented, in a stand-alone LOA, AFTER a serious consultation with the group, and with some serious conditions and restrictions
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Originally Posted by Sink r8
(Post 2207589)
For example, it might be voluntary in fact, not just in name.
Originally Posted by capncrunch
(Post 2207823)
This is what worries me. It will be crammed down our throats via an LOA.
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Originally Posted by crewdawg
(Post 2207862)
This! Or maybe the company funds that $1/hr...
Well, with all these guys that just want to vote on something, why do we not vote on LOAs? It's not like it's all that hard to setup an online vote. |
Originally Posted by capncrunch
(Post 2207835)
An LOA we can't vote on, no thanks.
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This is a positive development. The VEBA came from ALPA's side of the table, yet I can't get a straight answer on "how?" from any of my reps. I can manage my own money, thank you, and the screw job on veterans was simply odious.
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Screw job?
No, no, no,...... you just don't have all the facts and insider understanding, let alone the legal and contract expertise to correctly read the language and understand what a GREAT idea/deal is being negotiated for your benefit. |
What I never understood is if it's funded by us with our money and benefits us in retirement/death why are we negotiating it with the company???
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VEBA! Las Vegas!
I just got a mailer from DALPA espousing the benefits of a VEBA. Now we don't know how it works? Priceless. Well, not priceless, it was a shiny color brochure postage paid by DALPA. Not gambling on that "voluntary," (mandatory really) self funded, managed for my benefit but not in my control, pay siphon. I'll bet DALPA tries to double down at a later date. |
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