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Old 08-19-2017, 04:21 AM   #241
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Originally Posted by FXDX View Post
The guys who have 25 years of service and their high five have absolutely nothing to lose in their scenario of freezing the current A plan. They can only go up with adding another defined benefit plan to the current A plan. Guys who stand a lot to lose are those who were hired at a later stage in life and will never get 25 years of service or perhaps even a high five of $260. Pilots who are out on LTD could also be adversely affected in a similar fashion.

This effort is being led by pilots with nothing to lose and desperately trying to get some kind of bump in their retirement benefits before they hit 65. That would be ok if they also get real improvements for everybody else, but I'm not convinced that will happen.

Even if the company were shown these plans and they were able to save money and increase our benefits I'm not convinced they would do it. Either out of spite or for company morale. How could they justify increasing our defined benefit plans after freezing everybody else's just a few years ago? I think the fallout from such a maneuver is why the company refused to consider it in the last contract negotiation.

I'm also not sure this pilot group (57% of whom voted for the current contract) will have the fortitude to vote something new down that really doesn't increase every pilot's benefits. A lot of pilots are prejudiced against A plans because they or somebody they know lost theirs due to bankruptcy and that is a valid concern. They hear A plan and instinctively think it will never be there for them and will take any B plan bump to cast away the A plan.

We all know that its not possible to replace that $130K per year with B fund bumps under current IRS limits. I'll take the small risk of FedEx going bankrupt in the next 20-30 years over taking on all of the investment risk myself over that same time frame. I've got the B plan and my personal savings to put in the market to augment the A plan and that is enough personal risk for me.

This may have been you best post on here, I knew you had it in you.
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Old 08-19-2017, 06:50 AM   #242
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Hub turn message was the union plans to get more info out in 2-3 weeks

They are looking at two new plans to "replace" the current A fund.

A "variable accrual" plan or a "variable benefit" plan.

No talk of increasing B fund (like UPS) and keeping current A fund

No talk of making A fund changes similar to what UPS did in their last negotiation

It's clear the union leadership has put in a lot of monetary and emotional capital into researching these new options and the train is about to leave the station

Some are asking why other options to increase overall retirement, without changing to a whole new A fund construct, aren't being discussed, surveyed or offered...???

How limited/focused will the pilot survey be?

Will it lead pilots to a choice between options 1 and 2 --- while in reality options 3, 4 and 5 may also exist?
Thank you for that explanation, DLax85. I think it will be telling about what comes of your last point, about the survey. Will they phrase it as only choices between the options that they are invested in, and afterwards conclude that they are only doing what we directed? Sounds like age 65 rule change all over again.
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Old 08-19-2017, 06:53 AM   #243
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What did you really get out of that contract? Most of the people who vote for it did so because they were either tired of waiting, or accepted the "that the best we will get" coolaid. They didn't vote for it because it was a good contract, so keep fooling yourself. A good contract don't get voted in by such a small margin.
It is obvious you are just trolling this thread trying to be irrelevant and combative to get a reaction. Could you find something else to do?
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Old 08-19-2017, 07:23 AM   #244
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This may have been you best post on here, I knew you had it in you.
I think your mom said it's time to clean your room.
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Old 08-19-2017, 08:20 AM   #245
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A good contract don't get voted in by such a small margin.
Actually, it's best if even a fabulous contract is only approved by one vote. That helps you manage the company's expectations.
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Old 08-19-2017, 08:40 AM   #246
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I think your mom said it's time to clean your room.
Not need for the disrespect, leave people moms and kids out
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Old 08-19-2017, 08:43 AM   #247
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It is obvious you are just trolling this thread trying to be irrelevant and combative to get a reaction. Could you find something else to do?
I'm not trolling, I'm going based on some of FDXLAG previous posts during contract negotiations
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Old 08-19-2017, 09:32 AM   #248
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I'm not trolling, I'm going based on some of FDXLAG previous posts during contract negotiations
Still waiting, I know you must have a super contract you are willing to tell us about.
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Old 08-19-2017, 10:01 AM   #249
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I'm not trolling, I'm going based on some of FDXLAG previous posts during contract negotiations
Obviously a troll. Won't say which airline he/she works for. Poor grasp of grammar. Can't tell the difference between FXDX and FDXLAG.
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Old 10-14-2017, 10:35 AM   #250
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This may have been you best post on here, I knew you had it in you.
"The MEC authorized the Negotiating Committee to meet with management to introduce the variable benefit concept to management and their actuaries. We fully anticipate that they will need time to digest and consider the plan concept before any consideration of future bargaining. Our discussion with management is scheduled to occur later this month."

Here we go... leg's of its own now! The road to hell is paved with good intentions...! Unanimous?? WOW!

Am I overreacting in my head about this, because I'm not seeing any reaction on the board here...?
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