MEC only retirement Vote?? from Block Rep
12-05-2017, 10:55 AM
#51
Gets Weekends Off
Joined APC: Jul 2009
Posts: 1,224
Originally Posted by StarClipper
Every peak is record setting season, every year is record profits. Stocks are up future looks bright, except for the retirement plan which the union seems eager to flush away. It’s time FDX ALPA stand strong against management on something. The the retirement is not worth fight for then what is?
12-05-2017, 07:26 PM
#54
Gets Weekends Off
Joined APC: Nov 2005
Position: 757 Capt
Posts: 2,418
IMO-the annuity is used as a tool to illustrate the value of our A plan.
The way I think it works...is kinda like Social Security. There's a huge pot of $$ set aside as Pension funding. Each retiree pulls his or her share out of the pot. If the Investment returns are greater than the Company planned, well then they don't need to add a whole lot of $$ to the pot to keep the funding adequate (as outlined by Govt rules)
Pilots longevity is estimated, some will die sooner than the guestimate, some will die later. All of which has an impact on the huge pot of $$
Company could certainly Buy an Individual Annuity and meet their obligations. But if they do that, they've transferred the longevity risk\reward to a different party
But if you consider the PBGC, well, pretty sure they don't cover annuities.
The way I think it works...is kinda like Social Security. There's a huge pot of $$ set aside as Pension funding. Each retiree pulls his or her share out of the pot. If the Investment returns are greater than the Company planned, well then they don't need to add a whole lot of $$ to the pot to keep the funding adequate (as outlined by Govt rules)
Pilots longevity is estimated, some will die sooner than the guestimate, some will die later. All of which has an impact on the huge pot of $$
Company could certainly Buy an Individual Annuity and meet their obligations. But if they do that, they've transferred the longevity risk\reward to a different party
But if you consider the PBGC, well, pretty sure they don't cover annuities.
12-06-2017, 03:10 AM
#56
Gets Weekends Off
Joined APC: Nov 2016
Posts: 936
Originally Posted by kronan
IMO-the annuity is used as a tool to illustrate the value of our A plan.
The way I think it works...is kinda like Social Security. There's a huge pot of $$ set aside as Pension funding. Each retiree pulls his or her share out of the pot. If the Investment returns are greater than the Company planned, well then they don't need to add a whole lot of $$ to the pot to keep the funding adequate (as outlined by Govt rules)
Pilots longevity is estimated, some will die sooner than the guestimate, some will die later. All of which has an impact on the huge pot of $$
Company could certainly Buy an Individual Annuity and meet their obligations. But if they do that, they've transferred the longevity risk\reward to a different party
But if you consider the PBGC, well, pretty sure they don't cover annuities.
The way I think it works...is kinda like Social Security. There's a huge pot of $$ set aside as Pension funding. Each retiree pulls his or her share out of the pot. If the Investment returns are greater than the Company planned, well then they don't need to add a whole lot of $$ to the pot to keep the funding adequate (as outlined by Govt rules)
Pilots longevity is estimated, some will die sooner than the guestimate, some will die later. All of which has an impact on the huge pot of $$
Company could certainly Buy an Individual Annuity and meet their obligations. But if they do that, they've transferred the longevity risk\reward to a different party
But if you consider the PBGC, well, pretty sure they don't cover annuities.
12-06-2017, 12:25 PM
#57
Gets Weekends Off
Joined APC: Aug 2006
Posts: 1,820
Originally Posted by StarClipper
Keep believing what you want.
12-06-2017, 01:58 PM
#58
Gets Weekends Off
Joined APC: Mar 2012
Position: Two Wheeler FrontSeat
Posts: 1,162
Originally Posted by pinseeker
You have asked about what happens to you when you offline jumseat on FedEx. How FedEx pilots are paid if they get extended. You have asked about FedEx pilot work rules. I can go back and quote you on your posts, but you really aren't worth the time. You are a troll.
12-06-2017, 03:00 PM
#59
Proponent of Hysteria
Joined APC: Mar 2005
Position: 3B
Posts: 1,052
Originally Posted by FamilyATM
DLax you state:
“It’s also become apparent, that the majority of those with maxed high 5 and 25 years of service are working very close to age 65.”
I’m not sure that statement is fact based. I’m 57,been here 27 years, have my high five and just waiting to turn 60 to retire. If I were to retire before 60 I lose 5% a year for every year between 55 and 60. Also there are 110 crew members senior to me that are younger than me (ALPA retirement calculator and the old FedEx seniority list they use to show us back in the 90’s). So no, we are all not waiting to run the court and go till 65.
“It’s also become apparent, that the majority of those with maxed high 5 and 25 years of service are working very close to age 65.”
I’m not sure that statement is fact based. I’m 57,been here 27 years, have my high five and just waiting to turn 60 to retire. If I were to retire before 60 I lose 5% a year for every year between 55 and 60. Also there are 110 crew members senior to me that are younger than me (ALPA retirement calculator and the old FedEx seniority list they use to show us back in the 90’s). So no, we are all not waiting to run the court and go till 65.
12-06-2017, 06:09 PM
#60
Gets Weekends Off
Joined APC: Jul 2007
Position: Captain
Posts: 101
FXDX, you are correct about the 3% (saw that after I posted but couldn’t figure out how to correct my mistake) and deferral. I am aware of the options out there. Just a lot of issues/expenses when you leave before 59 1/2.
Thread
Thread Starter
Forum
Replies
Last Post
