Considering jumping ship
02-28-2020 | 05:09 AM
#131
Generationally Damaged
Joined: Jul 2016
Posts: 365
Likes: 0
From: Dynamically Leveled
https://www.cnbc.com/2020/02/27/coro...ir-travel.html
Just be ready to jump ship back to FedEx if you think the tea leaves aren’t in your favor.
Just be ready to jump ship back to FedEx if you think the tea leaves aren’t in your favor.
02-28-2020 | 06:02 AM
#132
Line Holder
Joined: Mar 2006
Posts: 424
Likes: 1
From: B767 FO
Of course I could be junior CA. I’m senior on my seat as FO, my point is the other legacies have a higher rate for any given seat.
Given different priorities on seniority and variances on compensation, I think a 25-30 year career at FDX or the other legacies is going to have similar earnings.
Given different priorities on seniority and variances on compensation, I think a 25-30 year career at FDX or the other legacies is going to have similar earnings.
I’m someone who would be very comfortable flying for one of the legacies. That being said, I’m very, very happy to be here. FedEx has been good to me and I enjoy the place. Been here 15 years. Looking at my friends at DAL/UAL with the same years of service and honestly, the careers are similar. Those at the pax airlines are Senior WB FOs or Junior Captains on the coast. Seniority or more money. Even my friends at SWA, its senior FO vs junior Captain on the Coasts with the same years of service. Of course I am part of the ‘lost decade pilot generation’.
02-28-2020 | 07:51 AM
#133
Gets Weekends Off
Joined: Nov 2017
Posts: 2,174
Likes: 1
02-28-2020 | 09:26 AM
#134
Gets Weekends Off
Joined: Dec 2005
Posts: 1,899
Likes: 0
From: Leftof longitudinal
In a nutshell:
No retirement DBP prior to 1998.
UPS 1% FAE max at 30 years first negotiated in 1998 contract, retroactive to all pilots on property.
However, each UPS/IPA contract since 2006 has another option, the contract by contract (like term insurance) "flat dollar benefit" DBP formula.
When your age group is covered in each successive contract, you will earn the higher retirement Defined Benefit Plan (DBP "A Plan") benefit of the two. 1% FAE or Flat dollar.
To expensive to comply with ERISA requirements to increase our FAE 1% formula, so IPA negotiated and uses the Flat Dollar Benefit formula contract by contract.
Timeline:
1998- 1% FAE
2006 -1% FAE all pilots, or, pilots turning 60 in range of years of current contract by birth year. Captains $3000 per year service. Max 30. (Max $90k per year)
FO's $2400 per year. (Max $72K per year)
Example 60 year old Captain earns a max benefit of 30 years x$3000/year =$90,000 annually to receive as desired by contract options (Survivor benefit, No survivor, level term payout, say 10 years, etc)
2016- 1% FAE all pilots, or pilots turning 60 in range of years (captures increasing age of pilots to gain flat dollar benefit option) Captains $4000, then 2020, Captains $4100, Then 2021, Captains $4200.
FO's $3200, then 2020, FO's $3280, then 2021, FO's $3360.
2020 TA: 1% FAE all pilots, increases flat dollar eligibility for pilots who will turn 60 during the proposed TA,
Captains Jan 2022 ; $4300 , then 2023, Captains $4400
FO's Jan 2022: $3440, then 2023, FO's $3520.
IPA pilots continuing to earn DBP increase year by year through 2021 current contract.
Max Captain flat dollar= 30x4200=$126,000
Max FO flat dollar =30x3360= $100,800
If TA is ratified, DBP increases continue through 2023.
Max Captain DBP benefit using flat dollar is 30x$4400= $132,000.
Max FO using flat dollar is 30x 3520=$105,600
No retirement DBP prior to 1998.
UPS 1% FAE max at 30 years first negotiated in 1998 contract, retroactive to all pilots on property.
However, each UPS/IPA contract since 2006 has another option, the contract by contract (like term insurance) "flat dollar benefit" DBP formula.
When your age group is covered in each successive contract, you will earn the higher retirement Defined Benefit Plan (DBP "A Plan") benefit of the two. 1% FAE or Flat dollar.
To expensive to comply with ERISA requirements to increase our FAE 1% formula, so IPA negotiated and uses the Flat Dollar Benefit formula contract by contract.
Timeline:
1998- 1% FAE
2006 -1% FAE all pilots, or, pilots turning 60 in range of years of current contract by birth year. Captains $3000 per year service. Max 30. (Max $90k per year)
FO's $2400 per year. (Max $72K per year)
Example 60 year old Captain earns a max benefit of 30 years x$3000/year =$90,000 annually to receive as desired by contract options (Survivor benefit, No survivor, level term payout, say 10 years, etc)
2016- 1% FAE all pilots, or pilots turning 60 in range of years (captures increasing age of pilots to gain flat dollar benefit option) Captains $4000, then 2020, Captains $4100, Then 2021, Captains $4200.
FO's $3200, then 2020, FO's $3280, then 2021, FO's $3360.
2020 TA: 1% FAE all pilots, increases flat dollar eligibility for pilots who will turn 60 during the proposed TA,
Captains Jan 2022 ; $4300 , then 2023, Captains $4400
FO's Jan 2022: $3440, then 2023, FO's $3520.
IPA pilots continuing to earn DBP increase year by year through 2021 current contract.
Max Captain flat dollar= 30x4200=$126,000
Max FO flat dollar =30x3360= $100,800
If TA is ratified, DBP increases continue through 2023.
Max Captain DBP benefit using flat dollar is 30x$4400= $132,000.
Max FO using flat dollar is 30x 3520=$105,600
Last edited by SaltyDog; 02-28-2020 at 10:05 AM.
02-28-2020 | 10:52 AM
#135
Gets Weekends Off
Joined: Nov 2017
Posts: 2,174
Likes: 1
In a nutshell:
No retirement DBP prior to 1998.
UPS 1% FAE max at 30 years first negotiated in 1998 contract, retroactive to all pilots on property.
However, each UPS/IPA contract since 2006 has another option, the contract by contract (like term insurance) "flat dollar benefit" DBP formula.
When your age group is covered in each successive contract, you will earn the higher retirement Defined Benefit Plan (DBP "A Plan") benefit of the two. 1% FAE or Flat dollar.
To expensive to comply with ERISA requirements to increase our FAE 1% formula, so IPA negotiated and uses the Flat Dollar Benefit formula contract by contract.
Timeline:
1998- 1% FAE
2006 -1% FAE all pilots, or, pilots turning 60 in range of years of current contract by birth year. Captains $3000 per year service. Max 30. (Max $90k per year)
FO's $2400 per year. (Max $72K per year)
Example 60 year old Captain earns a max benefit of 30 years x$3000/year =$90,000 annually to receive as desired by contract options (Survivor benefit, No survivor, level term payout, say 10 years, etc)
2016- 1% FAE all pilots, or pilots turning 60 in range of years (captures increasing age of pilots to gain flat dollar benefit option) Captains $4000, then 2020, Captains $4100, Then 2021, Captains $4200.
FO's $3200, then 2020, FO's $3280, then 2021, FO's $3360.
2020 TA: 1% FAE all pilots, increases flat dollar eligibility for pilots who will turn 60 during the proposed TA,
Captains Jan 2022 ; $4300 , then 2023, Captains $4400
FO's Jan 2022: $3440, then 2023, FO's $3520.
IPA pilots continuing to earn DBP increase year by year through 2021 current contract.
Max Captain flat dollar= 30x4200=$126,000
Max FO flat dollar =30x3360= $100,800
If TA is ratified, DBP increases continue through 2023.
Max Captain DBP benefit using flat dollar is 30x$4400= $132,000.
Max FO using flat dollar is 30x 3520=$105,600
No retirement DBP prior to 1998.
UPS 1% FAE max at 30 years first negotiated in 1998 contract, retroactive to all pilots on property.
However, each UPS/IPA contract since 2006 has another option, the contract by contract (like term insurance) "flat dollar benefit" DBP formula.
When your age group is covered in each successive contract, you will earn the higher retirement Defined Benefit Plan (DBP "A Plan") benefit of the two. 1% FAE or Flat dollar.
To expensive to comply with ERISA requirements to increase our FAE 1% formula, so IPA negotiated and uses the Flat Dollar Benefit formula contract by contract.
Timeline:
1998- 1% FAE
2006 -1% FAE all pilots, or, pilots turning 60 in range of years of current contract by birth year. Captains $3000 per year service. Max 30. (Max $90k per year)
FO's $2400 per year. (Max $72K per year)
Example 60 year old Captain earns a max benefit of 30 years x$3000/year =$90,000 annually to receive as desired by contract options (Survivor benefit, No survivor, level term payout, say 10 years, etc)
2016- 1% FAE all pilots, or pilots turning 60 in range of years (captures increasing age of pilots to gain flat dollar benefit option) Captains $4000, then 2020, Captains $4100, Then 2021, Captains $4200.
FO's $3200, then 2020, FO's $3280, then 2021, FO's $3360.
2020 TA: 1% FAE all pilots, increases flat dollar eligibility for pilots who will turn 60 during the proposed TA,
Captains Jan 2022 ; $4300 , then 2023, Captains $4400
FO's Jan 2022: $3440, then 2023, FO's $3520.
IPA pilots continuing to earn DBP increase year by year through 2021 current contract.
Max Captain flat dollar= 30x4200=$126,000
Max FO flat dollar =30x3360= $100,800
If TA is ratified, DBP increases continue through 2023.
Max Captain DBP benefit using flat dollar is 30x$4400= $132,000.
Max FO using flat dollar is 30x 3520=$105,600
Thank you for that explanation. I assume that you are also keeping the 12% company contribution in this TA?
02-28-2020 | 07:12 PM
#137
Line Holder
Joined: May 2006
Posts: 1,115
Likes: 5
From: Excessed WB Capt.
02-29-2020 | 05:31 PM
#138
Gets Weekends Off
Joined: Jan 2018
Posts: 180
Likes: 0
From: FO
United Asks for Voluntary Leave Article
That all being said, their next new hire classes and for the foreseeable future are cancelled, and this is a necessary step before the company is allowed to furlough per their contract. I’m hoping this all blows over in a few months, and it’s a moot point we all look back and laugh upon, but it may mean some of our buddies may be facing a difficult time soon. I’m just a pilot though, so take my opinion with a grain of salt.
03-01-2020 | 02:27 AM
#139
Banned
Joined: Aug 2019
Posts: 1,244
Likes: 0
To the OP, jump Its all a guess, so just keep jumping. And when you are not happy at your next job, jump. Or maybe educate yourself on how volatile the airline system is and then find a job in a more stable work environment..
Take a snap shot of this year and look at the years to come. Its going to be the same. Social media panic now controls the world and the market. The market was great under Trump but that will change. The continual growth of the market is now controlled by complete morons who think every blip is a worldwide epidemic. So, When my 200K loss come back, I'm going in to bonds and then I'm done. Sad that of the legacy airlines with no pension, guys have lost a lot this past two weeks that will take years to get back. 12% B fund, great, until now. No pension? Well that pension still pays the same dollars today as it did 4 weeks ago.
Take a snap shot of this year and look at the years to come. Its going to be the same. Social media panic now controls the world and the market. The market was great under Trump but that will change. The continual growth of the market is now controlled by complete morons who think every blip is a worldwide epidemic. So, When my 200K loss come back, I'm going in to bonds and then I'm done. Sad that of the legacy airlines with no pension, guys have lost a lot this past two weeks that will take years to get back. 12% B fund, great, until now. No pension? Well that pension still pays the same dollars today as it did 4 weeks ago.
03-09-2020 | 09:40 AM
#140
Gets Weekends Off
Joined: Jul 2009
Posts: 1,224
Likes: 0
Soliciting advice from an anonymous Internet forum might be nuts but here it goes.
I’m relatively new here and consider myself extremely fortunate to be part of the team. FedEx was always my #1 choice but some of that shine is starting to wear off after seeing behind the curtain. That being said, I’m considering brushing off the resume with all of this doom and gloom.
I’m less than 1yr on property and don’t know what I don’t know. The majority of my buddies fly for the UAL/Delta/AA/SWA and truly think I’m nuts staying on board FedEx’s sinking ship. I don’t have many buddies here to steer me straight with an honest long term perspective of flying for FedEx. I haven’t been a fan of the night hub turns but I’m told day flying is doable with a bit of seniority. Does it really get better? So what is the true story? Are we at the bottom of a normal business cycle or do we have our collective heads in the sand? I hope I’m wrong but the headwinds of change don’t look favorable.
I’m fortunate to likely have a long career ahead of me and live within driving distance to big domiciles for the other major carriers. Flying purple tails have always been my dream so I can’t believe I’m even considering walking away from the best flying job in the world. Have I lost my mind?
cheers -
I’m relatively new here and consider myself extremely fortunate to be part of the team. FedEx was always my #1 choice but some of that shine is starting to wear off after seeing behind the curtain. That being said, I’m considering brushing off the resume with all of this doom and gloom.
I’m less than 1yr on property and don’t know what I don’t know. The majority of my buddies fly for the UAL/Delta/AA/SWA and truly think I’m nuts staying on board FedEx’s sinking ship. I don’t have many buddies here to steer me straight with an honest long term perspective of flying for FedEx. I haven’t been a fan of the night hub turns but I’m told day flying is doable with a bit of seniority. Does it really get better? So what is the true story? Are we at the bottom of a normal business cycle or do we have our collective heads in the sand? I hope I’m wrong but the headwinds of change don’t look favorable.
I’m fortunate to likely have a long career ahead of me and live within driving distance to big domiciles for the other major carriers. Flying purple tails have always been my dream so I can’t believe I’m even considering walking away from the best flying job in the world. Have I lost my mind?
cheers -
Thread
Thread Starter
Forum
Replies
Last Post
