MaydayMark

All of the Company Stock I have from a previous employer can now be used as wallpaper. I'd like some sort of profit sharing in CASH please (into a retirement fund would be just fine with me).

I would think that if employees actually benefited from the employers profit that said employees would operate as if they owned the company (because they sort of do own it).

I'm skeptical that Management would agree to any changes in our retirement arrangements that costs them more money? I'm surprised we're even talking about it?

MM

Overnitefr8

We had profit sharing before we had a contract. We gave it up for the B fund.

Nitefrater

That's because there was never any profit to "share."

The Company kept rolling everything into capital improvement and never showed much in the way of book profit.
Those were also the days of no stockholder dividends, just appreciation of stock value.

With the B plan we got paid regardless of where the bookkeepers tried to hide the money.

DLax85

I agree objective B fund better than subjective profit sharing

Ask the Delta guys when/how it was offered to them - - when the future was bleak, before industry consolidation, before loads & prices went way up

Mgmt didn’t think they were offering them too much at the time

Then once profits soared, mgmt wanted to “redefine” how “profits” were computed - they felt the plan had become too generous

It was a big sticking point in their last contract negotiations, and one of the reasons their first TA was rejected by the pilots

Do the other employee groups at FedEx get any type of profit sharing?

golfandfly

For the “no” voters like myself, you have to ask yourself what retirement increase would have been acceptable.

I thought an increase from $130k annually to $150-160k would have done it. Of course I’d like more, but I felt that was a reasonable figure. I wouldn’t care if they upped the high 5 or increased the multiplier. They’ve upped it before, in the 2006 contract, folks over 50 got a decent increase. I think some as high as 2.2%/year. I’m not a fan of paying a nickel over 25 years of service. Why would we want to give pilots another incentive to stay longer?

Anyway, I’d like to hear more about UPS’ flat dollar retirement. Supposedly, it reduces the company’s pension obligation. This could be a decent option for us and the company, and it’s hard to find middle ground unless both parties get something.

I’d be interested in profit sharing too. There are many ways for the company to hide money, but we should be able to learn from other’s mistakes. It may not always be there, but could be fairly significant in good years.

Anyway, in my simple terms, I would have voted yes for another 20k in retirement benefits. Whether this comes now in the form of a cash over cap B Fund, profit sharing, increasing our A Plan, is pretty much irrelevant to me.

I still can’t believe we are even considering freezing our A plan. This really is one of those WTF moments.

StarClipper

Lets hope the MEC and R&I committee is paying attention. FedEx just thank President for handling them Billions through the new tax laws, while on the other hand the union is trying to save them Billions by giving away the retirement.

Bump up the B Plan and ask for profit sharing while you negotiate ways to improve the A Plan. But if FedEx union give away the A Plan they are Idiots.

mempurpleflyer

We don't have to wait and see about that. They are idiots for even suggesting it.

What is yet to be seen is whether we (the membership) are idiots once it comes up for a vote. I sure hope not.

Lots of ways to improve our retirement. None of them should include freezing the A Plan.

The Walrus

News flash. We are idiots.

Busboy

Sorry to be a grammar nazi...But,

Fixed it for you.

MEMFO4Ever

Huh?

Please send this to your block rep, R&I, the NC, and the officers.

Patiently waiting for you to post their reply.