Veba removed
09-21-2016 | 09:04 AM
#1
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Gets Weekends Off
Joined: Feb 2007
Posts: 399
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From: M88 B
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!
09-21-2016 | 09:07 AM
#2
Gets Weekends Off
Joined: Jun 2009
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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.
For example, it might be voluntary in fact, not just in name.
09-21-2016 | 09:12 AM
#3
Line Holder
Joined: Jan 2014
Posts: 244
Likes: 7
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.
09-21-2016 | 02:08 PM
#4
Gets Weekends Off
Joined: Feb 2008
Posts: 2,349
Likes: 16
09-21-2016 | 02:39 PM
#5
Moderator
Joined: Jul 2006
Posts: 7,427
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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.
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.
09-21-2016 | 02:52 PM
#6
Gets Weekends Off
Joined: Mar 2015
Posts: 13,233
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From: ir.delta.com
This requires a change of DALPA policy. Several resolutions were presented at the LEC level to address this, I think it's been referred to a committee for review and legal for vetting. That's ALPA speak for, go bury this in the backyard and forget where it was.
09-22-2016 | 03:57 AM
#8
Snake
Joined: May 2015
Posts: 242
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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.
09-22-2016 | 06:22 AM
#9
Gets Weekends Off
Joined: Jun 2015
Posts: 4,116
Likes: 1
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.
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.
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