American DC plan or FedEx A plan DC plan mix
10-27-2018 | 03:52 AM
#132
Gets Weekends Off
Joined: Aug 2006
Posts: 1,813
Likes: 0
This section with Mr Reardon is where I cannot for the life of me follow where he got from point A to point B. I understand the simple math he is using to get to his solution, but I don't think he is either explaining this correctly or there's a huge leap of faith somewhere.
If you really believe that, or think that there is a huge leap of faith involved, is this really a plan that you want.
It makes sense though, we pay lawyers who can't create language to protect first class deadhead banks or define "known R days."
I think it speaks volumes that the company is willing to listen to this outside of section 6 when the last contract took 4 years to negotiate. 2 years of good faith meetings under the bridge contract and a little over 2 years after that until a TA. 4 years to get us to give up items for a less than 3% a year pay raise. They must be laughing all the way to the board room.
10-27-2018 | 06:20 AM
#133
Thread Starter
Gets Weekends Off
Joined: Nov 2005
Posts: 2,424
Likes: 0
From: 757 Capt
If I'm not mistaken, the IRS limit when our first CBA was signed was $130,000 -- exactly the same as the maximum benefit a pilot could earn with the "A" Plan formula. Of course, when we signed there were no pilots who could max out all of the components of the "A" Plan formula. Fully qualified, and a primary reason for unionizing and breaking out into a separate retirement plan.
.
.
So, I'm thinking the verbiage in our PBB on Qualified\non-qualified benefit components just legacy language written earlier in 1999.
10-27-2018 | 08:05 AM
#134
Gets Weekends Off
Joined: Aug 2006
Posts: 1,813
Likes: 0
Actually, it was raised from $125000 to $130000 effective Jan. 1, 1998. That also happens to be the year before FedEx pilots signed their first contract.
10-29-2018 | 03:58 AM
#135
Line Holder
Joined: Jan 2018
Posts: 56
Likes: 0
From: 737 FO
We already have pilots hitting the 415(c)(1)(a) contribution limits. That makes the effective rate of their "B" Plan ZERO percent for the rest of the year. If we're going to put effort into improving the "B" Plan, we have to talk about Cash Over Cap features. When we get to that point, we may as well switch the conversation back to pay rates.
.
.
Thread
Thread Starter
Forum
Replies
Last Post
