MEC only retirement Vote?? from Block Rep
#101
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.
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.
#104
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.
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.
#105
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
#109
Line Holder
Joined APC: Dec 2017
Posts: 48
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.
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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