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MEC only retirement Vote?? from Block Rep

Old 12-09-2017, 07:29 PM
  #101  
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Originally Posted by Fdxlag2 View Post
You forgot to add flat dollar turns into a pumpkin on 1/22.
Yes, I posted after you already pointed that out

It is a very key point which allows their plan to avoid certain accounting rules and PBGC expenses

However, I believe their contract is amendable before then, and their intention is to extend the flat dollar option in each contract.
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Old 12-09-2017, 08:07 PM
  #102  
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Does UPS have “cash over cap” for b fund contributions?
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Old 12-10-2017, 12:06 AM
  #103  
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Originally Posted by BlueMoon View Post
Does UPS have “cash over cap” for b fund contributions?
No...........
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Old 12-10-2017, 02:54 AM
  #104  
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Originally Posted by DLax85 View Post
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.
Originally Posted by Fdxlag2 View Post
You forgot to add flat dollar turns into a pumpkin on 1/22.
He also forgot to add that the Flat Dollar of $4,000 is for Captains. F/Os only get $3,200. I guess we’re good with paying F/Os less in retirement, too...
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Old 12-10-2017, 03:56 PM
  #105  
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Originally Posted by Sluggo_63 View Post
He also forgot to add that the Flat Dollar of $4,000 is for Captains. F/Os only get $3,200. I guess we’re good with paying F/Os less in retirement, too...
I merely copy & pasted what’s on the UPS profile on APC

The point is, there are many creative ways to improve our TOTAL retirement

There are many creative ways to improve our existing “Defined Benefit” A plan, without changing it to a “Variable Benefit” Plan that’s really a Defined Contribution Plan from the company’s perspective

There are many creative ways to improve our current B plan.

Does the crew force feel like it’s truly getting educated and surveyed on all the possible options?

If no, why not?

Let’s research broadly & think critically
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Old 12-10-2017, 04:42 PM
  #106  
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Originally Posted by Fdxlag2 View Post
You forgot to add flat dollar turns into a pumpkin on 1/22.

31 Dec 2026, actually...and only if there isn’t a successor CBA that maintains the Flat Dollar Amount benefit.
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Old 12-10-2017, 05:19 PM
  #107  
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Originally Posted by BoilerUP View Post
31 Dec 2026, actually...and only if there isn’t a successor CBA that maintains the Flat Dollar Amount benefit.
Thanks for the clarification, is your 1% is uncapped?
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Old 12-11-2017, 03:05 AM
  #108  
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Originally Posted by Fdxlag2 View Post
Thanks for the clarification, is your 1% is uncapped?
There is no earnings cap for the 1% FAE, only a years of service cap of 30 years for either the FAE or FDA.
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Old 12-11-2017, 03:06 AM
  #109  
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Default limit retirement medical expenses

We should be fighting for reduced retirement medical expense. Medical expense is most retirees largest expense (except taxes...and ex's)..and it's getting worse.

If we had a cola adjusted medical expense payment in retirement from age 55-65 (medicare age) more people would feel comfortable retiring early (which is gd). Like...1-2% times years of service and multiply by the full medical premium.

If you "can't" increase your retirement income....then reduce your retirement expenses... same result bottom line. Plus it would be tax free. Many ways to skin a cat... just a thought.
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Old 12-11-2017, 03:51 AM
  #110  
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Originally Posted by BoilerUP View Post
There is no earnings cap for the 1% FAE, only a years of service cap of 30 years for either the FAE or FDA.
So at about 430k FAE your 1% = our 2% and is better than the flat dollar.
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