Fedex Pilots proposed retirement plan
08-10-2017 | 10:16 AM
#151
Gets Weekends Off
Joined: Feb 2007
Posts: 3,045
Likes: 1
From: FO
The video seemed very light on details on how it will effect the individual pilots retirement. The only thing I gathered was there could be floors for downward movements and ceilings for upward movements in the market.
Other than that, I didn't get much out of it other than what the PBGC charges and it is quite a bit if your pension fund is underfunded. I didn't know that.
I hope they release more videos with very specific details. One I'm very interested in is how would this variable plan perform during the 2000-2013 time frame (the same time frame they referenced in the video, the '00 dot com crash and the '08 meltdown) and how it would effect the income of current retired pilots and the future returns of those not retired.
Other than that, I didn't get much out of it other than what the PBGC charges and it is quite a bit if your pension fund is underfunded. I didn't know that.
I hope they release more videos with very specific details. One I'm very interested in is how would this variable plan perform during the 2000-2013 time frame (the same time frame they referenced in the video, the '00 dot com crash and the '08 meltdown) and how it would effect the income of current retired pilots and the future returns of those not retired.
08-10-2017 | 04:08 PM
#152
Gets Weekends Off
Joined: Jul 2007
Posts: 395
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From: MD-11
So basically, this guy's plan is to pass all the risk from our employer, FedEx, to an insurance company who will manage our portfolio in underperforming bonds, and we are to accept that this insurance company has less liklihood of failure than FedEx itself over the next few decades, all the while charging us a nice fee.
Also depends on the Insurance company. Plus, what do we negotiate in return for taking all risk from FedEx? And NO WAY should we let ALPA manage our pensions, as an intermediary or otherwise. That's what this smells of.
Also depends on the Insurance company. Plus, what do we negotiate in return for taking all risk from FedEx? And NO WAY should we let ALPA manage our pensions, as an intermediary or otherwise. That's what this smells of.
Last edited by PicklePausePull; 08-10-2017 at 04:28 PM.
08-10-2017 | 05:23 PM
#153
Line Holder
Joined: May 2006
Posts: 1,115
Likes: 5
From: Excessed WB Capt.
Fedex used to provide a 70% LTD plan. Then we changed it to part fedex part self funded insurance which costs around 6k a year. If FX accepts this plan it's a good deal for them and a bad one for us....period
08-11-2017 | 06:12 AM
#154
Line Dawg
Joined: Sep 2006
Posts: 150
Likes: 0
From: 777 Captain LCA
Retirement
If Dyer is shooting straight, it's too early for details. Sharing the details we all want would be irresponsible if they are not concrete. It's difficult to be patient, especially about this subject. If they are talking to the company about a new concept, in general terms, that's prudent. If ALPA keeps spending money developing options without knowing if the company has any interest in exploring it, that's poor business. I would prefer they rack and stack the options, in detail, before they share anything. IMHO.
08-11-2017 | 09:49 AM
#157
Organizational Learning
Joined: Nov 2005
Posts: 4,948
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From: Directly behind the combiner
08-11-2017 | 11:23 AM
#158
Gets Weekends Off
Joined: Nov 2016
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I don't have an answer perhaps holding our breaths until we turn purple is the right move.
08-11-2017 | 12:49 PM
#159
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Joined: Aug 2006
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From: leaning to the left
It isn't good enough for me either. But they put $2 billion into the fund this year. I wonder how much we can get them to put in until they think it is real money. My math is a little fuzzy do you think 2 billion is more or less than the total amount of money the company paid pilots in salary last year? My I phone says $250k times 4600 is about 1.1 billion.
I don't have an answer perhaps holding our breaths until we turn purple is the right move.
I don't have an answer perhaps holding our breaths until we turn purple is the right move.
And, $1.3 Billion of that was to cover lump sums for the non-pilot employees that took early benefits.
But with this group, the only math we need to know is, "What's 3% of what I make?"
08-11-2017 | 01:04 PM
#160
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Joined: Nov 2016
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So we should or should not talk to the company? With this group it is hard to tell where we stand.
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