Originally Posted by Adlerdriver

Speaking of weaknesses..... I think it’s safe to say at least one of yours is these things ——-> [ ]
If you’re going to do some kind of kung fu to someone else’s posts when you quote it, at least make sure you got these things in the right place. It’s not that hard. Then you have a normal looking post with the other persons post easily recognized. Then everyone else is trying to fix your problem as they respond. If you still manage to screw it up, look at your post after you submit and if it doesn’t look right go back and fix it. You got 45 minutes before it’s locked and you can’t edit it.
It makes it so much nicer for the reader. Thank you

Originally Posted by kronan

Dr K,

Payroll estimate is a lowball, been lots of complaints from various people about ALPA dues and what we get, so, their complaints of we get this for X millions divided by dues rate gets you a number in excess of what I used.
So, ballpark. Pretty close, but not precise. As food for thought, payroll estimated at 975M pre CBA2015 and that was at 4k pilots.

PSPP A plan funding rate. Based off of what FedEx was contributing to the Portable Pension for the non-pilot potion of those 187,000 participants. (A plan FedEx recently canceled and transitioned to an employer match 401k for 2020)
FedEx had been contributing 8% for Senior employees and 5% for the line swine.

Have to remember that PSPP payments\investments are a year by year thing. When our Pension first began 20+ years ago it wasn't funded for a 25 year payout obligation, but built up over time.

Something that surprised me when I looked at the form 5500 a few days ago (funding levels as of last summer) was the number of participants-that 187,000 and then, towards the very back of it was a section talking about the Portable Pension,

If you don't know, Portable Pension was also a Cash Benefit Pension Plan---which is a cheaper type of a DB than our traditional plan. (See math-benefits of a High 5 versus an accumulate as you go)
As commented, a set percentage of income became an Employees Benefit for the year but rather than sharing in the 7+% the Pension Trust has been earning over time, those funds were "indexed" to a Bond performance number.

The thing that surprised me was that all of the various Pension Promises are commingled into one Big Trust.
Something that makes me wonder a transition to the PSPP would create a new Pension Trust or if it'd be comingled into the existing one


Year by year by year the investments in the VB plan would continue to grow and accumulate.
There's never been anything that springs to life full grown.

Originally Posted by Noworkallplay

In one of the seminars the R and I guys stated it would be a separate trust. So if you had an accrued benefit from the legacy A plan and the PSPP the check would come from 2 different trusts.

Originally Posted by StillFlying

I fully agree with the why. The current plan, was once great, then good, now nice, soon to be okay, then of very little worth, and eventually near worthless.

I just don't see any benefit to the company, with the way we as a group work, to change what is in place. Someone please enlighten me.

What good will has the company in this most current crisis pushed our way? Seriously.

The list goes on and on, but we can start at the top by telling folks that are holed up in their hotel room that they won't even throw $50 extra a day to cover room service. Not to be 100% negative, they did say they would provide catering on outbound legs, but how much good is that when you are bouncing around or have long transcon legs in a 75 with no chiller?

Not to sound overly dramatic, but with the ways guys act around here, it's like we have a sort of Stockholm Syndrome. The bad part is, if guys wait until 2021 to snap out of it, dollars to doughnuts our union has a job action lawsuit on its hands.

Originally Posted by FXLAX

Just to play devil’s advocate, isn’t that full retirement check that is never missed due to that contract that was negotiated by those you don’t trust? In other words, if there was a loophole in that part of the contract, wouldn’t management already exploited it, like they have with first class seats?

Originally Posted by Noworkallplay

I have always made the tough calls. I call in fatigue if I’m fatigued. I call in sick when I’m sick. Yeh let’s pull out of an agreement in hopes the company will come crawling back, which would not happen and you darn well know it. The freight is moving in case you haven’t noticed partner. Oh and they ain’t in section 6 so they would tell you and the other cry babies to shove it where the sun don’t shine. Tell your buddies and you to step up and then they may look at this pilot group as something but a bunch of blowhards. We still have guys deviating and bailing out the company when flights are canceling left and right and they go on social media wondering what they can do. I just laugh. What a pathetic joke. The problem is our pilot group as a whole. We have guys that have been at this joint for 20 years and they still don’t understand when you deviate you have completely taken the whole risk. But it’s all about me me me and it bites them in the backside. Then I get a good laugh bc they are so ignorant.

Originally Posted by iarapilot

I assume that you are fairly new here. And the fact that you do the things you do is the way it should be.

But I would caution you on being a smartass with certain people on here who have been here a long time and know first hand the history of the way things work with our Company, Union, contracts, and independent contractors. They have a certain insight that you haven't developed yet. Posted in friendship.