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-   -   Kronan's Jedi mind control (https://www.airlinepilotforums.com/fedex/125815-kronans-jedi-mind-control.html)

kronan 12-07-2019 05:18 AM

Kronan's Jedi mind control
 
Bringing PurpleToolBoxes comment to a new thread

"I witnessed a few of them headed to Dulles voice their anger and discontent for the pilots who were against the variable annuity plan. They seemed to be very emotionally invested in the plan despite saying it wasn't going to help them much but it was a win for the younger pilots. Then why are you so butthurt about it?

If this pilot force doesn't say "NO" during the next round of negotiations, we are screwed.

If we keep listening to these folks and their friends (cough cough Kronan cough cough), we are going to lose our way of life here at FedEx and it will become just another pilot job."


Yep, my Jedi Mind control manifests worldwide through the mighty power of the Internet.

Really, really hoping DAL and AMR are greatly successful in their CBA negotiations. Will provide a great platform for us to build upon.

But even if we get DAL+10%, Upgraded A plan with a COLA, restoration of Travel bank for deviant travel, an awesome TA IOW, one that passes with 80+% approval, there will still be those ****ed off that we didn't get what we deserve because we didn't vote NO.

MEMA300 12-07-2019 06:08 AM

Not true. That contract would pass with 95%. But it will never happen. Dealing in theoreticals is stupid. Lets be realistic.

Noworkallplay 12-07-2019 07:11 PM

I would like to hear Purpletoolbox’s idea on how to fix the pension so we don't have to negotiate it every round of bargaining. So lets say we get a bump in the final average earnings this round. Based upon the past whats your level of confidence we can every other round? Why not look at a pension plan that doesn't have to be negotiated for every round to keep up with inflation.

USMCFDX 12-08-2019 04:31 AM


Originally Posted by Noworkallplay (Post 2935392)
I would like to hear Purpletoolbox’s idea on how to fix the pension so we don't have to negotiate it every round of bargaining. So lets say we get a bump in the final average earnings this round. Based upon the past whats your level of confidence we can every other round? Why not look at a pension plan that doesn't have to be negotiated for every round to keep up with inflation.

Increase the B fund and add cash over cap. Every time you get a pay raise your retirement savings increases as well.

HIFLYR 12-08-2019 10:01 AM


Originally Posted by USMCFDX (Post 2935467)
Increase the B fund and add cash over cap. Every time you get a pay raise your retirement savings increases as well.

This is a crazy idea according to the reps I have talked to! They will not even have any actuarial company crunch the numbers. They just discuss among themselves the numbers required and discount the idea.

MEMA300 12-08-2019 11:31 AM


Originally Posted by HIFLYR (Post 2935604)
This is a crazy idea according to the reps I have talked to! They will not even have any actuarial company crunch the numbers. They just discuss among themselves the numbers required and discount the idea.

DAL has that, plus profit sharing.

In my opinion as long as we have a pension they will glean the good things that they can from the contract, no-PBS, Vaca flexibility, etc. . We have already given up alot. 8/24, sig side letter too many other things to list. The only way to stop that taking is to freeze seniority numbers going on the A-plan. I know it is not a popular idea but its fact. You will never get maxed out B-plan with cash over cap and have an A-plan. You know why? Because no one else does.

StarClipper 12-08-2019 10:59 PM


Originally Posted by MEMA300 (Post 2935637)
DAL has that, plus profit sharing.

In my opinion as long as we have a pension they will glean the good things that they can from the contract, no-PBS, Vaca flexibility, etc. . We have already given up alot. 8/24, sig side letter too many other things to list. The only way to stop that taking is to freeze seniority numbers going on the A-plan. I know it is not a popular idea but its fact. You will never get maxed out B-plan with cash over cap and have an A-plan. You know why? Because no one else does.

So you’d support freezing the A Plan to future new hires? That is crazy selfish. How about we stand up in solidarity for something we’ve earned. The notion that because no one else does it, we won’t either, is weak and annoying. I don’t see any other company carrying some of the things we do and flying some if the schedules we do, except for UPS.

MEMA300 12-09-2019 07:22 AM

It isnt selfish. It is strategic. Not a single guy hired after late 2000s has an A-plan as an option anywhere but fedex or ups, btw Ups has our old A-plan. So i am not taking away anything nor being selfish. I dont have enuf time to benefit from an enhanced B-plan. I actually have MUCH to benefit from an ENHANCED A-plan but am realistic that fedex management will not enhance the A-plan... ever. So the best next option is to max out the B-plan after freezing new eemployees into a rapidly decreasing purchasing ability for the A-plan. This needs to be done before they slowly pick away at all the fat in our contract. VACA, Bidding on schedules etc.

But you go ahead and accuse me of being selfish when I am actually being the opposite.

Solidarity??? LMFAO. We cant even get guys to not sell back vaca or not deviate etc etc etc. during any CBA negotiations.

kronan 12-09-2019 07:46 AM

Only at FedEx would pilots be arguing For a Mgt proposal to eliminate the A plan after being vehemently Against a Union proposal to modify the A plan benefit calculation.

Out of fears the benefit would go to 0 in an underperforming market environment, but be ALL in for a Cash Over Cap B plan only that is Solely dependent upon market returns.

In 2020, a FedEx pilot can contribute $19.5k to our 401k. DC limits are $285k salary and a maximum of $57k can be deferred (not counting the Catch-up provisions)
So, for our Super Saver FedEx pilot there is $37k of Company contributions available before everything is taxed.

That is roughly $246k.
After than Government's taking a minimum of 25 dollars for every 100 dollars of income. I know, 1st world problems. But then they're also going to be taking a cut on any returns you earn on that 75 dollars every pilot would hypothetically be saving.
But study after study shows that most of the time when the money shows up in a paycheck it gets spent. How many DAL guys do you know saving their Profit Sharing each and every year?
Yet that was the argument DALs NC put together in their video a few years back. Compared DAl versus UPS and said that if they achieved roughly 4.6% pay increases (they didn't, only got 3% over the past 2 years) and if PS continued at the same rate over a career, and a DAL pilot saved every dollar (without deducting any lost to extra taxes) that a DAL pilot and a UPS pilot would have equivalent retirements.

And Yes, you can make the math work out that you're actually better off with a big B plan versus our $130k A plan and 9% B plan. But if you're capable of achieving the kind of investment return doing so requires, over 25 years, you're wasting your life as a Pilot. Wall street will pay you Millions of dollars to do that.

And Yes, if you die a year after retirement a Big B plan would've been way better.
At least you can leave the money to your heirs.
But planning to die early isn't much of a retirement plan

kronan 12-09-2019 08:03 AM

Let's do some math.

Let's assume a 7% return over 25 years, let's assume you're going to draw down your assets at a 5% withdrawal rate instead of the recommended 4%.

130k of our A plan in 25 years (assumes absolutely NO changes over the next 3-4 CBA negotiations)
So, at 5% you'd need $2,600,000. 130\5%. Need more money if you use 4%, less if you use 6%.

To get to $2.6M in 25 years, at a 7% return, a Savings Goal calculator will tell you that you need to save $3,210 each and every month. Or $39k a year (rounded up)
From year 1.
Later you start, greater the savings you need to hit your goal

Let's say you only save $10k a year for your 1st 10 years or so, then to get to that $2.6M takes about $7k of savings each and every month.


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