Retirement Plan Negotiations?
07-03-2019, 05:56 AM
#192
Gets Weekends Off
Joined APC: Mar 2006
Position: Crewmember
Posts: 1,377
Most of the crew force wishes it would go away.
The MEC needs to justify spending a million dollars of our dues money with negotiations just down the road.
This is a money grab by the "over 25 and high 5, I've got mine" crowd, and the rest of us are getting ready to get screwed.
Increase the B fund, substantially, make it cash over cap, and leave the A fund alone, or increase it if we can.
All the rest is BS.
Any agreement with the company signed outside of Section 6 will be good for them and bad for us.
Why can't our union leadership understand that?
The MEC needs to justify spending a million dollars of our dues money with negotiations just down the road.
This is a money grab by the "over 25 and high 5, I've got mine" crowd, and the rest of us are getting ready to get screwed.
Increase the B fund, substantially, make it cash over cap, and leave the A fund alone, or increase it if we can.
All the rest is BS.
Any agreement with the company signed outside of Section 6 will be good for them and bad for us.
Why can't our union leadership understand that?
07-03-2019, 07:44 AM
#193
Hubbin’ It
Joined APC: Feb 2011
Position: FedEx
Posts: 29
Originally Posted by Nightflyer
Most of the crew force wishes it would go away.
The MEC needs to justify spending a million dollars of our dues money with negotiations just down the road.
This is a money grab by the "over 25 and high 5, I've got mine" crowd, and the rest of us are getting ready to get screwed.
Increase the B fund, substantially, make it cash over cap, and leave the A fund alone, or increase it if we can.
All the rest is BS.
Any agreement with the company signed outside of Section 6 will be good for them and bad for us.
Why can't our union leadership understand that?
The MEC needs to justify spending a million dollars of our dues money with negotiations just down the road.
This is a money grab by the "over 25 and high 5, I've got mine" crowd, and the rest of us are getting ready to get screwed.
Increase the B fund, substantially, make it cash over cap, and leave the A fund alone, or increase it if we can.
All the rest is BS.
Any agreement with the company signed outside of Section 6 will be good for them and bad for us.
Why can't our union leadership understand that?
07-03-2019, 07:56 AM
#194
Hubbin’ It
Joined APC: Feb 2011
Position: FedEx
Posts: 29
Originally Posted by jetlaggy
Did this go away or is it still a thing?
07-03-2019, 10:51 AM
#195
Gets Weekends Off
Joined APC: Nov 2005
Position: 757 Capt
Posts: 2,418
Originally Posted by Nightflyer
Most of the crew force wishes it would go away.
The MEC needs to justify spending a million dollars of our dues money with negotiations just down the road.
This is a money grab by the "over 25 and high 5, I've got mine" crowd, and the rest of us are getting ready to get screwed.
Increase the B fund, substantially, make it cash over cap, and leave the A fund alone, or increase it if we can.
All the rest is BS.
Any agreement with the company signed outside of Section 6 will be good for them and bad for us.
Why can't our union leadership understand that?
The MEC needs to justify spending a million dollars of our dues money with negotiations just down the road.
This is a money grab by the "over 25 and high 5, I've got mine" crowd, and the rest of us are getting ready to get screwed.
Increase the B fund, substantially, make it cash over cap, and leave the A fund alone, or increase it if we can.
All the rest is BS.
Any agreement with the company signed outside of Section 6 will be good for them and bad for us.
Why can't our union leadership understand that?
Also improves on the Pension for those just hired who will accrue 25 YOS.
The proposal also has a buy up so those recently hired who won't achieve 25 YOS (in other words, our recent new hires hired mid-40's or even 50's) would result with the GREATER of that achieved under our current A plan calculation or the changed A plan benefit calculation.
And, unless I've been missing, pretty sure you could eliminate the outside of section 6 verbiage since the vocal minority seem to run with the
Any agreement with the company will be good for them and bad for us.
07-04-2019, 04:42 AM
#196
Gets Weekends Off
Joined APC: Mar 2006
Position: Crewmember
Posts: 1,377
Originally Posted by kronan
Not an over 25 guy, and yet the proposal benefits me. (And that's just the proposed floor calculation with none of the much-maligned "secret sauce" of stock market returns)
Also improves on the Pension for those just hired who will accrue 25 YOS.
The proposal also has a buy up so those recently hired who won't achieve 25 YOS (in other words, our recent new hires hired mid-40's or even 50's) would result with the GREATER of that achieved under our current A plan calculation or the changed A plan benefit calculation.
And, unless I've been missing, pretty sure you could eliminate the outside of section 6 verbiage since the vocal minority seem to run with the
Any agreement with the company will be good for them and bad for us.
Also improves on the Pension for those just hired who will accrue 25 YOS.
The proposal also has a buy up so those recently hired who won't achieve 25 YOS (in other words, our recent new hires hired mid-40's or even 50's) would result with the GREATER of that achieved under our current A plan calculation or the changed A plan benefit calculation.
And, unless I've been missing, pretty sure you could eliminate the outside of section 6 verbiage since the vocal minority seem to run with the
Any agreement with the company will be good for them and bad for us.
Kind of like the union promising that "lie flat seats" won't cause us to lose a higher class of service!
Did you forget about this disclaimer on the model? You know, the one that pretty much says the numbers you get are BS?
Begin Disclaimer Verbage:
By clicking “Agree”, you acknowledge the following:
Use of this product is restricted to authorized FedEx Pilots, members of FDX Master Executive Council (MEC) and employees of Air Line Pilots Association. This product is offered as part of the FDX MEC’s ongoing education campaign concerning the variable defined benefit concept under consideration. This product is not offered for the purpose of financial, retirement planning, or legal advice. Various aspects of the variable defined benefit concept are subject to negotiation. Various assumptions have been made for the purpose of making the product operational and not as a representation concerning any final plan design. Estimates shown in this product rely on future demographic and economic experience conforming to the underlying assumptions and methods. To the extent actual experience deviates from the underlying assumptions and methods, or there are any changes in plan provisions or applicable laws, the estimates would vary accordingly. As such, users may not rely on the estimates as their actual retirement benefit.
Cheiron, Inc. owns all intellectual property rights in this product. Use of this product is subject to monitoring. Any unauthorized use of this product, including any attempt to modify, adapt, recreate, duplicate, reproduce, reverse engineer, “unlock,” decompile, combine or disassemble the product, is strictly prohibited. Use of this product does not create any third party rights in any user, and Cheiron assumes no duty or liability to any user. Cheiron disclaims all warranties with respect to the product, including but not limited to warranties of merchantability, fitness for a particular purpose, performance, quality, informational accuracy, and non-infringement. In no event shall Cheiron be liable to any user for any indirect, special, incidental, economic, or consequential loss or injury of any nature arising out of or caused in whole or in part by the use of this product.
07-04-2019, 06:33 AM
#197
Hubbin’ It
Joined APC: Feb 2011
Position: FedEx
Posts: 29
Originally Posted by Nightflyer
The outside of Section 6 verbiage is perfectly accurate. Why would the company agree to give us anything outside of section 6? Only if it benefits them, at our expense.
Kind of like the union promising that "lie flat seats" won't cause us to lose a higher class of service!
Did you forget about this disclaimer on the model? You know, the one that pretty much says the numbers you get are BS?
Begin Disclaimer Verbage:
By clicking “Agree”, you acknowledge the following:
Use of this product is restricted to authorized FedEx Pilots, members of FDX Master Executive Council (MEC) and employees of Air Line Pilots Association. This product is offered as part of the FDX MEC’s ongoing education campaign concerning the variable defined benefit concept under consideration. This product is not offered for the purpose of financial, retirement planning, or legal advice. Various aspects of the variable defined benefit concept are subject to negotiation. Various assumptions have been made for the purpose of making the product operational and not as a representation concerning any final plan design. Estimates shown in this product rely on future demographic and economic experience conforming to the underlying assumptions and methods. To the extent actual experience deviates from the underlying assumptions and methods, or there are any changes in plan provisions or applicable laws, the estimates would vary accordingly. As such, users may not rely on the estimates as their actual retirement benefit.
Cheiron, Inc. owns all intellectual property rights in this product. Use of this product is subject to monitoring. Any unauthorized use of this product, including any attempt to modify, adapt, recreate, duplicate, reproduce, reverse engineer, “unlock,” decompile, combine or disassemble the product, is strictly prohibited. Use of this product does not create any third party rights in any user, and Cheiron assumes no duty or liability to any user. Cheiron disclaims all warranties with respect to the product, including but not limited to warranties of merchantability, fitness for a particular purpose, performance, quality, informational accuracy, and non-infringement. In no event shall Cheiron be liable to any user for any indirect, special, incidental, economic, or consequential loss or injury of any nature arising out of or caused in whole or in part by the use of this product.
Kind of like the union promising that "lie flat seats" won't cause us to lose a higher class of service!
Did you forget about this disclaimer on the model? You know, the one that pretty much says the numbers you get are BS?
Begin Disclaimer Verbage:
By clicking “Agree”, you acknowledge the following:
Use of this product is restricted to authorized FedEx Pilots, members of FDX Master Executive Council (MEC) and employees of Air Line Pilots Association. This product is offered as part of the FDX MEC’s ongoing education campaign concerning the variable defined benefit concept under consideration. This product is not offered for the purpose of financial, retirement planning, or legal advice. Various aspects of the variable defined benefit concept are subject to negotiation. Various assumptions have been made for the purpose of making the product operational and not as a representation concerning any final plan design. Estimates shown in this product rely on future demographic and economic experience conforming to the underlying assumptions and methods. To the extent actual experience deviates from the underlying assumptions and methods, or there are any changes in plan provisions or applicable laws, the estimates would vary accordingly. As such, users may not rely on the estimates as their actual retirement benefit.
Cheiron, Inc. owns all intellectual property rights in this product. Use of this product is subject to monitoring. Any unauthorized use of this product, including any attempt to modify, adapt, recreate, duplicate, reproduce, reverse engineer, “unlock,” decompile, combine or disassemble the product, is strictly prohibited. Use of this product does not create any third party rights in any user, and Cheiron assumes no duty or liability to any user. Cheiron disclaims all warranties with respect to the product, including but not limited to warranties of merchantability, fitness for a particular purpose, performance, quality, informational accuracy, and non-infringement. In no event shall Cheiron be liable to any user for any indirect, special, incidental, economic, or consequential loss or injury of any nature arising out of or caused in whole or in part by the use of this product.
07-04-2019, 06:50 AM
#198
Gets Weekends Off
Joined APC: Nov 2013
Posts: 2,756
Originally Posted by KenandDeglan
Good points. Id add to the disclaimer that cheron is the same company who was the only one who apptoaches us and is getting paid $800,000 plus. However the video with the recently retired MEC chairman said they sought out many companies and cheron was doing this for nothing.
Cheiron is an employee-owned, full-service actuarial and financial consultancy, advising a national client base of public employers, Taft-Hartley plans, non-profits, and corporations, from offices nationwide. Our primary focus is pensions and health plans.
Our mission is — and always has been — to empower benefit plan sponsors to understand and better manage their benefit programs and their resulting financial risks through innovative technological applications and unsurpassed professional expertise.
Our mission is — and always has been — to empower benefit plan sponsors to understand and better manage their benefit programs and their resulting financial risks through innovative technological applications and unsurpassed professional expertise.
07-04-2019, 07:25 AM
#199
Gets Weekends Off
Joined APC: Feb 2007
Position: FO
Posts: 3,032
Originally Posted by Nightflyer
The outside of Section 6 verbiage is perfectly accurate. Why would the company agree to give us anything outside of section 6? Only if it benefits them, at our expense.
Kind of like the union promising that "lie flat seats" won't cause us to lose a higher class of service!
Did you forget about this disclaimer on the model? You know, the one that pretty much says the numbers you get are BS?
Begin Disclaimer Verbage:
By clicking “Agree”, you acknowledge the following:
Use of this product is restricted to authorized FedEx Pilots, members of FDX Master Executive Council (MEC) and employees of Air Line Pilots Association. This product is offered as part of the FDX MEC’s ongoing education campaign concerning the variable defined benefit concept under consideration. This product is not offered for the purpose of financial, retirement planning, or legal advice. Various aspects of the variable defined benefit concept are subject to negotiation. Various assumptions have been made for the purpose of making the product operational and not as a representation concerning any final plan design. Estimates shown in this product rely on future demographic and economic experience conforming to the underlying assumptions and methods. To the extent actual experience deviates from the underlying assumptions and methods, or there are any changes in plan provisions or applicable laws, the estimates would vary accordingly. As such, users may not rely on the estimates as their actual retirement benefit.
Cheiron, Inc. owns all intellectual property rights in this product. Use of this product is subject to monitoring. Any unauthorized use of this product, including any attempt to modify, adapt, recreate, duplicate, reproduce, reverse engineer, “unlock,” decompile, combine or disassemble the product, is strictly prohibited. Use of this product does not create any third party rights in any user, and Cheiron assumes no duty or liability to any user. Cheiron disclaims all warranties with respect to the product, including but not limited to warranties of merchantability, fitness for a particular purpose, performance, quality, informational accuracy, and non-infringement. In no event shall Cheiron be liable to any user for any indirect, special, incidental, economic, or consequential loss or injury of any nature arising out of or caused in whole or in part by the use of this product.
Kind of like the union promising that "lie flat seats" won't cause us to lose a higher class of service!
Did you forget about this disclaimer on the model? You know, the one that pretty much says the numbers you get are BS?
Begin Disclaimer Verbage:
By clicking “Agree”, you acknowledge the following:
Use of this product is restricted to authorized FedEx Pilots, members of FDX Master Executive Council (MEC) and employees of Air Line Pilots Association. This product is offered as part of the FDX MEC’s ongoing education campaign concerning the variable defined benefit concept under consideration. This product is not offered for the purpose of financial, retirement planning, or legal advice. Various aspects of the variable defined benefit concept are subject to negotiation. Various assumptions have been made for the purpose of making the product operational and not as a representation concerning any final plan design. Estimates shown in this product rely on future demographic and economic experience conforming to the underlying assumptions and methods. To the extent actual experience deviates from the underlying assumptions and methods, or there are any changes in plan provisions or applicable laws, the estimates would vary accordingly. As such, users may not rely on the estimates as their actual retirement benefit.
Cheiron, Inc. owns all intellectual property rights in this product. Use of this product is subject to monitoring. Any unauthorized use of this product, including any attempt to modify, adapt, recreate, duplicate, reproduce, reverse engineer, “unlock,” decompile, combine or disassemble the product, is strictly prohibited. Use of this product does not create any third party rights in any user, and Cheiron assumes no duty or liability to any user. Cheiron disclaims all warranties with respect to the product, including but not limited to warranties of merchantability, fitness for a particular purpose, performance, quality, informational accuracy, and non-infringement. In no event shall Cheiron be liable to any user for any indirect, special, incidental, economic, or consequential loss or injury of any nature arising out of or caused in whole or in part by the use of this product.
“This product is not offered for the purpose of financial, retirement planning, or legal advice.“
Ok so I’m supposed to make a decision on my retirement with a tool that specifically says it isn’t for retirement planning..
07-04-2019, 07:37 AM
#200
Gets Weekends Off
Joined APC: Nov 2013
Posts: 2,756
Originally Posted by BlueMoon
I’m specifically drawn to this sentence of that disclaimer.
“This product is not offered for the purpose of financial, retirement planning, or legal advice.“
Ok so I’m supposed to make a decision on my retirement with a tool that specifically says it isn’t for retirement planning..
“This product is not offered for the purpose of financial, retirement planning, or legal advice.“
Ok so I’m supposed to make a decision on my retirement with a tool that specifically says it isn’t for retirement planning..
Thread
Thread Starter
Forum
Replies
Last Post
