Go Back  Airline Pilot Central Forums > Airline Pilot Forums > Cargo > FedEx
Fedex Pilots proposed retirement plan >

Fedex Pilots proposed retirement plan

Notices

Fedex Pilots proposed retirement plan

Old 08-10-2017, 10:16 AM
  #151  
Gets Weekends Off
 
Joined APC: Feb 2007
Position: FO
Posts: 3,031
Default

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.
BlueMoon is offline  
Old 08-10-2017, 04:08 PM
  #152  
Gets Weekends Off
 
Joined APC: Jul 2007
Position: MD-11
Posts: 395
Default

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.

Last edited by PicklePausePull; 08-10-2017 at 04:28 PM.
PicklePausePull is offline  
Old 08-10-2017, 05:23 PM
  #153  
Gets Weekends Off
 
MEMA300's Avatar
 
Joined APC: May 2006
Position: Excessed WB Capt.
Posts: 1,058
Default

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
MEMA300 is offline  
Old 08-11-2017, 06:12 AM
  #154  
Line Dawg
 
slaveship's Avatar
 
Joined APC: Sep 2006
Position: 777 Captain LCA
Posts: 150
Default 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.
slaveship is offline  
Old 08-11-2017, 06:30 AM
  #155  
Gets Weekends Off
 
Joined APC: May 2016
Position: 757
Posts: 146
Default

I would prefer they quit wasting money chasing this unicorn down a rabbit hole.
MelT is offline  
Old 08-11-2017, 08:37 AM
  #156  
Gets Weekends Off
 
Joined APC: Nov 2016
Posts: 936
Default

Originally Posted by MelT View Post
I would prefer they quit wasting money chasing this unicorn down a rabbit hole.
Thats exactly how we got no changes to retirement last contract.
Fdxlag2 is offline  
Old 08-11-2017, 09:49 AM
  #157  
Organizational Learning 
 
TonyC's Avatar
 
Joined APC: Nov 2005
Position: Directly behind the combiner
Posts: 4,948
Default

Originally Posted by Fdxlag2 View Post

Thats exactly how we got no changes to retirement last contract.

No changes?

Didn't you read it?


I still haven't seen anything to convince me our existing Defined Benefit plan cannot be improved. I'm sorry, but "The Company doesn't want to" isn't good enough.






.
TonyC is offline  
Old 08-11-2017, 11:23 AM
  #158  
Gets Weekends Off
 
Joined APC: Nov 2016
Posts: 936
Default

Originally Posted by TonyC View Post
No changes?

Didn't you read it?


I still haven't seen anything to convince me our existing Defined Benefit plan cannot be improved. I'm sorry, but "The Company doesn't want to" isn't good enough.

.
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.
Fdxlag2 is offline  
Old 08-11-2017, 12:49 PM
  #159  
Gets Weekends Off
 
Joined APC: Aug 2006
Position: leaning to the left
Posts: 4,184
Default

Originally Posted by Fdxlag2 View Post
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.
That $2 Billion was not just for pilot pensions.

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?"
Busboy is offline  
Old 08-11-2017, 01:04 PM
  #160  
Gets Weekends Off
 
Joined APC: Nov 2016
Posts: 936
Default

Originally Posted by Busboy View Post
That $2 Billion was not just for pilot pensions.

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?"
So we should or should not talk to the company? With this group it is hard to tell where we stand.
Fdxlag2 is offline  
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
Albief15
Cargo
69
07-03-2015 09:59 AM
steamgauge
Cargo
95
03-24-2013 05:55 PM
Freighter Captain
Cargo
3
05-16-2005 06:00 PM

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Thread Tools
Search this Thread
Your Privacy Choices