Fdxlag2

Tell your mom that we still have the best retirement in the industry, I certainly am glad they didn’t have a chance to mess with it. Who knows what damage they could have done in another year. Thank you yes voters.

TonyC

Fixed it for you.


By the way, what department do you work in?






.

StarClipper

You are absolutely right 100% of the crew force will pay the price. Tony I know you’re smarter than to ask which department do I work? Why would I be so concerned about FedEx contract? The Union is as weak as they get and the crew force is as divided as they get.

StarClipper

You seems to be obsessed with my mom, however she is out of your league. Stick to what you think you have at home.

MaydayMark

You're a bit annoying ...

Your mom? That could be interesting!*?

StarClipper

How is voicing my opinion annoying? You think I’m annoying because you made the assumption that I wasn’t a FedEx pilot so I should not comment on issues pertaining to FedEx crew force. But it’s obvious you know what happens when you assume.

FXLAX

What exactly is the ups model?

Fdxlag2

I think they have a 1% of high 5 X YOS max 30. That is what the PBGC is concerned with. They supplement with a buy up to get them close to parity with us. The buy up has an expiration date a couple of years after the contract becomes amendable, so it has to be renegotiated every contract. But since it expires no big PBGC penalty. Presumably cheaper than increasing the A Plan cap thus easier to make improvements every contract. When you heard all of the no voters huffing and puffing about how UPS got an A Plan improvement and we didn't, this is what they were talking about.

How it could work for us, A Plan stays the same but every pilot on the property gets an additional 100 a month x YOS in addition to the A Plan. This would be a separate account that would avoid the PBGC.

DLax85

UPS Retirement

401K Matching: No

A/B Fund:

A Plan: 1% FAE or Flat dollar $4000 times YOS (Max 30 years) equals $120,000/year pension. Flat dollar amount increases to $4200 on 1/1/21

B Plan: 12%

Note: It’s the TOTAL retirement that matters. A fund + B fund

Our A max benefit ($130K) is currently better than their A max benefit ($120K). Their’s will be $126K on Jan 1, 2021. Inching closer to ours, but admittedly taking longer to earn (30 years vs 25 years)

However, their B Fund is 12% compared to our 8% now (9% in 2 years)

We could improve our TOTAL retirement by improving either or A or B fund (...or both)

The union isn’t looking at B fund improvements at all

Why??

A hybrid, diversified plan, which has both a gaurunteed portion and a pilot controlled, at risk portion, seems best

We don’t need to move to a model where both the A fund and B fund are at financial risk to the pilots - especially when that A fund risk wouldn’t be individually controlled.

Fdxlag2

You forgot to add flat dollar turns into a pumpkin on 1/22.