Retirement Plan Negotiations?
#141
You keep telling yourself that, Sparky.
#142
Gets Weekends Off
Joined APC: Nov 2017
Posts: 2,099
Retirement Plan Negotiations?
Just anecdotal but in the last few years, out of all the regional pilots I’ve talked to, the vast majority (80%) talk about going only to a passenger airline. And like the above poster, the lines are always longer at the passenger airlines compared to the cargo airlines. I contend that the pilot shortage will hit the major passenger airlines last and UPS/FDX before them with ULCCs/ACMI before that and the regionals right now.
#143
Gets Weekends Off
Joined APC: Jan 2018
Posts: 108
Just anecdotal but in the last few years, out of all the regional pilots I’ve talked to, the vast majority (80%) talk about going only to a passenger airline. And like the above poster, the lines are always longer at the passenger airlines compared to the cargo airlines. I contend that the pilot shortage will hit the major passenger airlines last and UPS/FDX before them with ULCCs/ACMI before that and the regionals right now.
This is because regional pilots don’t know much about the cargo industry and are accustomed to passenger service. I didn’t know much about FedEx until attending the job fair and learning about the operation. Needless to say it was a blessing to make the switch to cargo. My QOL will be way better than a passenger airline.
#144
Gets Weekends Off
Joined APC: Jun 2014
Posts: 306
#145
I believe you about the lines, Sparky. I take issue with your smug job satisfaction. Sure, cargo is a good gig, but I would argue by default. We lagged behind until after the collapse, and then patted ourselves on the back for that which was beyond the control of the pilot group, which was bankruptcy. Aren’t we clever. We led the pack for a bit, getting more and more smug, but haven’t had the resolve to fight for any real gains, mostly because IMO the slim majority are ensconced in your smug satisfaction and/or fearful of a prolonged negotiation in which we use our legal tools for substantial gains. I’m not bitter about the job. Just you, Sparky. Just bitter about you.
#146
Gets Weekends Off
Joined APC: Jun 2014
Posts: 306
I believe you about the lines, Sparky. I take issue with your smug job satisfaction. Sure, cargo is a good gig, but I would argue by default. We lagged behind until after the collapse, and then patted ourselves on the back for that which was beyond the control of the pilot group, which was bankruptcy. Aren’t we clever. We led the pack for a bit, getting more and more smug, but haven’t had the resolve to fight for any real gains, mostly because IMO the slim majority are ensconced in your smug satisfaction and/or fearful of a prolonged negotiation in which we use our legal tools for substantial gains. I’m not bitter about the job. Just you, Sparky. Just bitter about you.
I’m off to enjoy my cargo plane full of rubber dog sh!t, or your Christmas gifts, whatever is back there, because it beats flying pax, even on the worst day.
Last edited by CL300; 12-16-2018 at 05:46 PM.
#147
Well then, carry on, bitter man. My apologies for triggering you with my smugness. You have a long, miserable career ahead of you and I feel terrible for those who have to share your workspace.
I’m off to enjoy my cargo plane full of rubber dog sh!t, or your Christmas gifts, whatever is back there, because it beats flying pax, even on the worst day.
I’m off to enjoy my cargo plane full of rubber dog sh!t, or your Christmas gifts, whatever is back there, because it beats flying pax, even on the worst day.
#148
Gets Weekends Off
Joined APC: Jul 2018
Posts: 444
Just anecdotal but in the last few years, out of all the regional pilots I’ve talked to, the vast majority (80%) talk about going only to a passenger airline. And like the above poster, the lines are always longer at the passenger airlines compared to the cargo airlines. I contend that the pilot shortage will hit the major passenger airlines last and UPS/FDX before them with ULCCs/ACMI before that and the regionals right now.
#149
Gets Weekends Off
Joined APC: Sep 2006
Position: I never did mind the little things.......
Posts: 260
Wow -Impressive - YOU ARE 100% CORRECT
This is absolute truth +1000
The company would ONLY agree to this if it lessened our benefit, put the risk on the pilots and BENEFITS THE CORPORATION. If it was good for us the company would refuse it. OBTW, the UNION lies, just like on the last contract.
If a car salesman came to you and said I know you have a good car that is older and may not be the best, but I have a brand new, unproven risky car and his best sales pitch is, "WELL IT'S AT LEAST AS GOOD AS YOUR OLD CAR." You would buy it? I hope not for your sake....
The company would ONLY agree to this if it lessened our benefit, put the risk on the pilots and BENEFITS THE CORPORATION. If it was good for us the company would refuse it. OBTW, the UNION lies, just like on the last contract.
If a car salesman came to you and said I know you have a good car that is older and may not be the best, but I have a brand new, unproven risky car and his best sales pitch is, "WELL IT'S AT LEAST AS GOOD AS YOUR OLD CAR." You would buy it? I hope not for your sake....
1. About that mlb pension...
Do about 5 minutes of reading in their literature. They do not have a vb plan at all.
Their pensions benefits are composed of a monthly check that is:
85% fixed - identical to our traditional "a fund"
15% variable - able to be invested in mutual funds
reference - http://www.mlb.com/mlb/official_info...sion-print.pdf
there are no pancakes, hurdle rates, stabilization funds, or setting of share prices. It is mlb's problem to perform and does not resemble our vb fund in any way shape or form.
When i heard that a lot of "high wage earners like the mlb have this vb plan", i stuck my chest out real far and went for the bait of being compared to them.
2. I then took a look at the unions who actually have a vb plan that are noted in our vb propaganda and what their monthly pension paychecks are (master mates and pilots of baltimore, new york newspaper guild, hotel and restaurants of boston, and alaska building trades). These guys make hundreds of dollars a month for pensions - not eleven thousand a month. We will be the crown jewel for cheiron or whoever ends up managing our shell of a retirement. And we will be guinea pigs as the first actual high wage earners voluntarily taking pension risk away from their employer.
3. Cheiron is quoted in a dozen articles i read touting the benefits of the vb plan for distressed and struggling pension funds. But it is absolutely insane for us to give away a healthy pension fund. As an aside - i have no problem with them selling us on this product - it is their livelihood. But i do have a problem with us not being properly informed while spending untold sums of money on this research project turned vote.
4. If you want to feel better about the state of our pension and the gains that could be made through actual negotiations, take another 5 minutes and read our irs form 5500. It shows the number of active retired and departed participants, our life expectancies, retirement ages, funds invested in, funding percentages, and any other questions you could possible have. Read it over and see if pancakes and need-to-be-negotiated stabilization funds seem more impressive.
https://www.efast.dol.gov/portal/app...execution=e2s6 - enter "fedex corporation" in plan sponsor. Then scroll down to the pension plan ein - 621721435 pn 002.
The vb plan is fake news. Make our pension great again.
K
Do about 5 minutes of reading in their literature. They do not have a vb plan at all.
Their pensions benefits are composed of a monthly check that is:
85% fixed - identical to our traditional "a fund"
15% variable - able to be invested in mutual funds
reference - http://www.mlb.com/mlb/official_info...sion-print.pdf
there are no pancakes, hurdle rates, stabilization funds, or setting of share prices. It is mlb's problem to perform and does not resemble our vb fund in any way shape or form.
When i heard that a lot of "high wage earners like the mlb have this vb plan", i stuck my chest out real far and went for the bait of being compared to them.
2. I then took a look at the unions who actually have a vb plan that are noted in our vb propaganda and what their monthly pension paychecks are (master mates and pilots of baltimore, new york newspaper guild, hotel and restaurants of boston, and alaska building trades). These guys make hundreds of dollars a month for pensions - not eleven thousand a month. We will be the crown jewel for cheiron or whoever ends up managing our shell of a retirement. And we will be guinea pigs as the first actual high wage earners voluntarily taking pension risk away from their employer.
3. Cheiron is quoted in a dozen articles i read touting the benefits of the vb plan for distressed and struggling pension funds. But it is absolutely insane for us to give away a healthy pension fund. As an aside - i have no problem with them selling us on this product - it is their livelihood. But i do have a problem with us not being properly informed while spending untold sums of money on this research project turned vote.
4. If you want to feel better about the state of our pension and the gains that could be made through actual negotiations, take another 5 minutes and read our irs form 5500. It shows the number of active retired and departed participants, our life expectancies, retirement ages, funds invested in, funding percentages, and any other questions you could possible have. Read it over and see if pancakes and need-to-be-negotiated stabilization funds seem more impressive.
https://www.efast.dol.gov/portal/app...execution=e2s6 - enter "fedex corporation" in plan sponsor. Then scroll down to the pension plan ein - 621721435 pn 002.
The vb plan is fake news. Make our pension great again.
K
Last edited by Chainsaw; 12-16-2018 at 07:59 PM. Reason: Combining Comments
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