Really? Hmmm.. I would say the union knows our retirement data as per Chuck Dyer on 7/15/16:

"Last week a couple of significant developments occurred on the same day. We received our retirement data, as we had requested from FedEx management"

Why the MEC does not divulge this data to the membership is anyone's guess. Something stinks. I have lost all faith in our MEC over the last few years and I'm not the only one that feels this way unfortunately.

 

Many thx Kronan

**********************************

And some other interesting portions of this communication...

“There are disagreements within our pilot group regarding the retirement plan. Our goal now is to find a way to develop a retirement plan structure that will satisfy the vast majority of us and satisfy the needs of future FedEx pilots.

Now that we are in receipt of our retirement data, we expect the experts at Segal to provide us with a complete understanding in the weeks ahead.

If this data reveals an opportunity to reconsider our approach to retirement, then we will communicate those developments to you. The pros and cons of the various components of a retirement plan remain the same.

We will provide articles to explain our retirement plan as it currently exists, and we will highlight the pros and cons of the structure.

Each of you will have to ask yourselves how you want to proceed.

This is no simple decision, and finding a path that can be supported by a significant majority remains a serious challenge.

Ultimately, any decision to reengage will be a collective decision.

This process must be transparent and forthright. Please do your best to understand the issues, and please do your part by participating in the process as it develops.”

**********************************

So after they ask the company if they are interested, are they going to circle back and ask the pilot group if we are interested...or will they just go straight into negotiating the details of a VB Plan?

I’m just trying to understand and participate in the process as it develops

And highly concerned the train will leave the station very fast, initially motivated by “leaving a legacy”, but in the end affected by “fatigue”

 

“Ultimately, any decision to reeengage will be a collective decision” - what a bunch of BS from the MEC I used to have faith in, unless “collective” meant at the MEC level only.

We just had our a$$es handed to us in 2015, and now we are eager to become the first pilot group EVER to negotiate away a DB plan, outside of Section 6, and outside of it being forced upon us during Chapter 11 bankruptcy. Oh, and in the midst of record profits for the corporation.

I was told many times “FDX has the best pay, but you’ll be flying with a group of guys who are dumb enough to vote YES on anything put in front of them for a vote”. Well, I didn’t want to believe it then, but I can see how this will play out already...

The train has left the station, and the same du*****es who sold the 2015 TA, will be selling us on the VB plan. That goes for this board and JF as well.

Just think about how the VB plan compared to the DB plan would’ve fared for you during 2008-2012.

Yeah. Let’s vote yes for the 25+ crowd, clearly that’s who this is for; oh, and maybe to help out the poor little corporation too, since our 2015 contract hasn’t done enough for our cash and retirement-strapped management team .

Managment is probably having a hard time figuring out how we are coming back for more on retiement after we got spanked so badly on it just 2 years ago. They are probably realizing that the level of greed we have, which motivates us to sell out guys below our seniority, is beyond their original expectations.

We think we are management, when in reality we are labor. However, management folks would never be dumb enough to swap their current retiement plan in exchange for one with greater risk. We probably are. Our vote will confirm it. Of course, I very much hope I’m wrong.

 

From the latest fast read......



Looks like the decision to engage was already made. Although they say no negotiation til we provide input.

 

The MEC says they want our input. My guess it will be the same as our age 65 input. Either the crew force really doesn't know what's best for them or they will find a way to skew the results to show a minority of pilots are against this.

 

Now that we have decided where we are going and when we are leaving we would like your input.

 

No real information yet, so maybe too early to discuss. But....

So, previously we wanted (and union vehemently supported) to not have a 2 tier retirement. So....

Do we assumed the "new" VB starts with Locking the A Fund?

Based on previous union positions, the A Fund should be converted to the new VB fund so we all share the same market risk in retirement. If we are going to change the retirement it will mean we all have to share the risk/reward equally correct!?

Locking the A Fund is a severe disadvantange to those with less than high 5 and less than 25 years. Take a 10 year pilot with a much reduced high 5 and only getting 20% of that. How does the new VB make up that kind of cash in 15 years? Time Value of Money only goes so far!

 

What IF the plan is to do something like was discussed back in 2015? Does anyone remember what that was? I remember the concept of a 3-choice proposal. What IF the plan is as follows:

You will have 120 days after rank and file approval of the "FedEx Pilots Super Duper 3 Option Retirement Plan" to make a choice of ONE of the following:

A) Keep my retirement just the way it is. I love it!!

B) I like many of the features of the VB option. I think a hybrid of the old A plan and the new VB is the perfect option for me. I want this option!

C) After reviewing the VB option, I think it is better for me than the "dying on the vine" A plan. I want this Option!

I understand this is a one-time option, I have consulted with my Financial Advisor and/or I have done my due diligence in fully researching all ramifications of the decision I am making today and I understand it is final.



I think if something like this was voted on (AFTER consulting with your Financial Advisor and/or having done your due diligence in fully researching all ramifications of the decision), it would achieve a 90+% approval of the pilots. But before then, we need to find out:

1) Is the company willing to commit to any or all 3 of the options at this time (If NOT, wait until the Section 6 process runs it's course (2021-2026)). Based on the BILLIONS (rumored) of liability reduction possible and the MILLIONS of administrative savings, they should be more than willing to agree to some kind of reasonable concept and they have a fiduciary responsibility to their shareholders to do so as well. Of course, since we are saving them MILLIONS to do this, we want our cut. IF the company is NOT willing to discuss now, so be it. Hand wringing and emotional tirades can end.

2) Are the FedEx pilots even interested in whatever the "best offer" is? IF not, vote it down. NOTHING CAN BE DONE WITHOUT OUR APPROVAL. There might be a 3 (or 2-option) plan, but a 1-option plan that is a "one size fits all" solution is doomed to failure IMHO (or worst case 51% approval). The MEC needs to be bombarded with this fact from all 4,600 pilots (or at least the ones that care). A 51% vote would be very divisive for the pilots and the Union. WE DON'T NEED THAT!!!!

3) If I was FedEx, I would want a poll taken of the crew force to find out how the various 3 options are being received. The final dollar offerings would be highly dependent on that poll, I would think. Make no mistake, if the company could shed even 1/3 of the crew force off of the A-plan they would be elated! (Of course they wouldn't show this during negotiations, but hopefully our Negotiating Committee and support staff / highly paid advisor team would be wise enough to "get every last penny available").

4) Polling is the key AFTER massive education attempts have been achieved. The Negotiating Committee can then use this data to formulate the final offer to be voted on.

Of course, IF this is done, it will take lots of TIME. I am guessing 6-18 months before we have something to vote on (assuming FedEx is willing to discuss).

No need to get spun up about this now. For now, stay focused and FLY SAFE during Peak!


What IF..................

 

Am I reading it correctly that an Alaskan 737 Capt. makes 15$/Hr more than a FDX 757 Capt with their new arbitrated contract?

 

Pattern bargaining, how does it work?