FedEx - Other Retirement Improvement Options
#31
I realize that not every retirement option is going to be the best deal for every pilot, so I'm not sure why they aren't considering giving people choices.
Give people the choice to keep the A plan, with increases in the maximum benefit. Give them the choice to freeze their A plan and start the VB plan. Give the choice for greatly increased B fund contributions. If the VB plan is so great, people will start choosing it. If the young guys want to forgo everything for a large B fund over the years, go for it. And how about a lump sum buyout, too.
I don't think one pilot group should have to sacrifice so the other can get larger benefits. Having choices like this would eventually get most people off the defined benefit plan (that is supposedly so costly), allowing the excess to go to these options and the company to get their cut. And people would be able to choose what they thought was best for themselves, without screwing other pilot groups.
Give people the choice to keep the A plan, with increases in the maximum benefit. Give them the choice to freeze their A plan and start the VB plan. Give the choice for greatly increased B fund contributions. If the VB plan is so great, people will start choosing it. If the young guys want to forgo everything for a large B fund over the years, go for it. And how about a lump sum buyout, too.
I don't think one pilot group should have to sacrifice so the other can get larger benefits. Having choices like this would eventually get most people off the defined benefit plan (that is supposedly so costly), allowing the excess to go to these options and the company to get their cut. And people would be able to choose what they thought was best for themselves, without screwing other pilot groups.
#34
Gets Weekends Off
Joined APC: Aug 2006
Posts: 1,820
I realize that not every retirement option is going to be the best deal for every pilot, so I'm not sure why they aren't considering giving people choices.
Give people the choice to keep the A plan, with increases in the maximum benefit. Give them the choice to freeze their A plan and start the VB plan. Give the choice for greatly increased B fund contributions. If the VB plan is so great, people will start choosing it. If the young guys want to forgo everything for a large B fund over the years, go for it. And how about a lump sum buyout, too.
I don't think one pilot group should have to sacrifice so the other can get larger benefits. Having choices like this would eventually get most people off the defined benefit plan (that is supposedly so costly), allowing the excess to go to these options and the company to get their cut. And people would be able to choose what they thought was best for themselves, without screwing other pilot groups.
Give people the choice to keep the A plan, with increases in the maximum benefit. Give them the choice to freeze their A plan and start the VB plan. Give the choice for greatly increased B fund contributions. If the VB plan is so great, people will start choosing it. If the young guys want to forgo everything for a large B fund over the years, go for it. And how about a lump sum buyout, too.
I don't think one pilot group should have to sacrifice so the other can get larger benefits. Having choices like this would eventually get most people off the defined benefit plan (that is supposedly so costly), allowing the excess to go to these options and the company to get their cut. And people would be able to choose what they thought was best for themselves, without screwing other pilot groups.
Why create a B or C scale to pit one set of pilots against another? Once you have different groups of retirements, you will have groups of pilots that want different things in the next contract. The company doesn't have to try to divide us, we would have done it to ourselves. The next thing you know, the company is offering enhancements to one retirement plan to freeze the most expensive one.
#35
No Bill, just a little fact that many are not aware of. I only had 24 years when I retired and my FedEx pension was reduced $1300+ a month for the 50% survivor benefit. My wife is only six years younger. The younger the spouse the bigger the hit. My Seaboard/Tiger Pilot Pension had no reduction for survivor benefits. Unknown to me before the retirement process if I did not select/accept survivor benefits with my FedEx pension my Seaboard/Tiger could not have the free survivor benefits. There are also some other options, but they all result in a reduction of that max $130,000 pension. If you want the $130,000 you have to select the option that leaves nothing to anyone at your death.
#36
Gets Weekends Off
Joined APC: Nov 2016
Posts: 936
That is a terrible idea!
Why create a B or C scale to pit one set of pilots against another? Once you have different groups of retirements, you will have groups of pilots that want different things in the next contract. The company doesn't have to try to divide us, we would have done it to ourselves. The next thing you know, the company is offering enhancements to one retirement plan to freeze the most expensive one.
Why create a B or C scale to pit one set of pilots against another? Once you have different groups of retirements, you will have groups of pilots that want different things in the next contract. The company doesn't have to try to divide us, we would have done it to ourselves. The next thing you know, the company is offering enhancements to one retirement plan to freeze the most expensive one.
#37
Gets Weekends Off
Joined APC: Aug 2006
Posts: 1,820
#38
Gets Weekends Off
Joined APC: Nov 2016
Posts: 936
#39
Gets Weekends Off
Joined APC: Nov 2016
Posts: 936
Can't we all agree that as currently funded our A Plan is:
Already frozen for those over 25 YOS.
A very valuable and growing part of their retirement strategy for replacing 40ish% of their income for those with 5 to 24 YOS.
An expensive plan to replace ~20% of their income in retirement for those yet to be hired.
Now you tell me how we treat everyone equally with some new plan that divides up the same pot of money.
Already frozen for those over 25 YOS.
A very valuable and growing part of their retirement strategy for replacing 40ish% of their income for those with 5 to 24 YOS.
An expensive plan to replace ~20% of their income in retirement for those yet to be hired.
Now you tell me how we treat everyone equally with some new plan that divides up the same pot of money.
#40
Freeze the A-plan and give us the DAL retirement plan. Only option
I will support if we decide to give up A-plan. Will also be comparable to what the market is providing otherpilots at other airlines. This new plan that we have to be schooled on and trust ALPA is dumbest thing I've ever heard.
I will support if we decide to give up A-plan. Will also be comparable to what the market is providing otherpilots at other airlines. This new plan that we have to be schooled on and trust ALPA is dumbest thing I've ever heard.
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