Connect and get the inside scoop on Airline Companies

Welcome to Airline Pilot Forums - Connect and get the inside scoop on Airline Companies

If this is your first visit, be sure to check out the FAQ. Join our community today and start interacting with existing members. Registration is fast, simple and absolutely free.


User Tag List

Post Reply
 
Thread Tools Search this Thread
Old 03-24-2020, 12:58 AM   #1  
Gets Weekends Off
Thread Starter
 
Stan446's Avatar
 
Joined APC: Aug 2019
Posts: 107
Default Pension increase

In these dire times, Fedex is doing really well. The market is down and if you are a retiree from the the big 3, your retirement may be hurting. Isn't it time for Fedex to get the A plan improved? Anyone else getting draft calls? I did, First time in 5 years. Anc based, The company has the money and we should be getting our pension, aka A plan, improved.
Stan446 is offline  
Old 03-24-2020, 08:06 AM   #2  
Gets Weekends Off
 
BLOB's Avatar
 
Joined APC: May 2018
Posts: 104
Default

Quote:
Originally Posted by Stan446 View Post
In these dire times, Fedex is doing really well. The market is down and if you are a retiree from the the big 3, your retirement may be hurting. Isn't it time for Fedex to get the A plan improved? Anyone else getting draft calls? I did, First time in 5 years. Anc based, The company has the money and we should be getting our pension, aka A plan, improved.
According to the MEC officers we are united as a pilot group on retirement. They are interpreting that as meaning we all want VB?!?

In any case Iím thinking that improving our retirement is not being discussed right now with the company. We are still over a year out from openers and the world should end before then.
BLOB is offline  
Old 03-24-2020, 08:47 AM   #3  
Gets Weekends Off
 
USMCFDX's Avatar
 
Joined APC: May 2006
Posts: 1,328
Default

Quote:
Originally Posted by BLOB View Post
According to the MEC officers we are united as a pilot group on retirement. They are interpreting that as meaning we all want VB?!?

In any case Iím thinking that improving our retirement is not being discussed right now with the company. We are still over a year out from openers and the world should end before then.
not discussing with the company but alpa is full steam ahead with the vb plan - the train has left the station and it will be very hard to stop it
USMCFDX is offline  
Old 03-24-2020, 09:06 AM   #4  
Line Holder
 
StillFlying's Avatar
 
Joined APC: Nov 2016
Posts: 40
Default

Quote:
Originally Posted by Stan446 View Post
The company has the money and we should be getting our pension, aka A plan, improved.
I just have to wonder what is the company's incentive for improving our A plan. I got it, we have a vested interested in keeping the company afloat. But guys are taking draft and their 3.5/4 CH "hazardous duty" pay for China, calling scheduling when they realize their DHs won't work**, etc, etc. So again, tell me why would the company want to increase our A plan?

**Shouldn't we be getting at least .5CH of pay when we notice FE DHs won't work before CRS? Especially when CRS will leave you out to dry if you deviate? We help them out, they kick us in the jimmies. Sounds fair.
StillFlying is offline  
Old 03-24-2020, 09:25 AM   #5  
On Reserve
 
FedEx Pilot's Avatar
 
Joined APC: Dec 2019
Position: RFO
Posts: 17
Default

Incentive, canít help there. Why ALPA feels it needs improvement...The MEC has a podcast with an episode addressing why. Worth the 9 or so minutes it took.
FedEx Pilot is online now  
Old 03-24-2020, 09:39 AM   #6  
Gets Weekends Off
 
StarClipper's Avatar
 
Joined APC: Mar 2012
Position: Two Wheeler FrontSeat
Posts: 733
Default

Can you imagine retiring this year under the proposed VB plan with that unknown floor? I hope the Union is paying close attention, we canít have a retirement that is completely tied to the stock market. Leave my A-Plan alone please.
StarClipper is offline  
Old 03-24-2020, 09:58 AM   #7  
On Reserve
 
FedEx Pilot's Avatar
 
Joined APC: Dec 2019
Position: RFO
Posts: 17
Default

Quote:
Originally Posted by StarClipper View Post
Can you imagine retiring this year under the proposed VB plan with that unknown floor? I hope the Union is paying close attention, we canít have a retirement that is completely tied to the stock market. Leave my A-Plan alone please.
I second that motion
FedEx Pilot is online now  
Old 03-24-2020, 12:29 PM   #8  
Line Holder
 
JB130's Avatar
 
Joined APC: Nov 2006
Position: Window Seat
Posts: 83
Default I cannot imagine...

the horror of having to retire with the market down like it is now and with all of my retirement fund "shares" tied to this market as it would be in a VB. It can be almost intoxicating dreaming of big VB projections in a bull market but the bear is always lurking. This market should be a lesson to the bedazzled dreamers out there and kill any notion of a VB plan on our property.

Ask any of our retirees if they're getting smaller A Plan checks now....or if their A Plan checks have stopped. The answer to both is NO! Those retirees are still cashing the same checks...business as usual for them, they earned it.

Quite simply, there is no better retirement package than the combination of an A Plan for guaranteed money immune from market fluctuations and a B-Plan that allows each individual full control of investment options/risk which suits them as they move through life and toward retirement. There is no better case to be made for our current package than what we're witnessing right now. Our efforts should be focused solely on improving the A Plan and continued enhancements to the B Plan.
JB130 is offline  
Old 03-24-2020, 01:55 PM   #9  
Line Holder
 
StillFlying's Avatar
 
Joined APC: Nov 2016
Posts: 40
Default

Quote:
Originally Posted by FedEx Pilot View Post
Incentive, canít help there. Why ALPA feels it needs improvement...The MEC has a podcast with an episode addressing why. Worth the 9 or so minutes it took.
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.
StillFlying is offline  
Old 03-24-2020, 02:00 PM   #10  
Line Holder
 
StillFlying's Avatar
 
Joined APC: Nov 2016
Posts: 40
Default

Quote:
Originally Posted by JB130 View Post
the horror of having to retire with the market down like it is now and with all of my retirement fund "shares" tied to this market as it would be in a VB. It can be almost intoxicating dreaming of big VB projections in a bull market but the bear is always lurking. This market should be a lesson to the bedazzled dreamers out there and kill any notion of a VB plan on our property.

Ask any of our retirees if they're getting smaller A Plan checks now....or if their A Plan checks have stopped. The answer to both is NO! Those retirees are still cashing the same checks...business as usual for them, they earned it.

Quite simply, there is no better retirement package than the combination of an A Plan for guaranteed money immune from market fluctuations and a B-Plan that allows each individual full control of investment options/risk which suits them as they move through life and toward retirement. There is no better case to be made for our current package than what we're witnessing right now. Our efforts should be focused solely on improving the A Plan and continued enhancements to the B Plan.
Do you understand that the union's negotiating entering line in the sand was a floor benefit of 2%*5 FAE*YOS (so that no one would be left with less than what they would have under the current A plan) and that at the point you retire, you could have locked in a fixed amount to keep the check constant or continue to let it flex with the market? Without the baseline, I agree, the VB would have gone absolutely no where with our group.
StillFlying is offline  
 
 
 

 
Post Reply
 



Thread Tools Search this Thread
Search this Thread:

Advanced Search


Related Topics
Thread Thread Starter Forum Replies Last Post
Mainline airline pilot hiring to increase av8tordude Major 41 09-12-2018 05:55 PM
3B4 Kiss at midnight notEnuf Delta 85 01-19-2016 07:07 AM
US Airways pilot newsletter Freighter Captain Major 0 06-16-2005 12:40 PM
Airline CEOs scolded for pension promises Flea Bite Major 2 06-08-2005 04:33 PM
POOF! UA A-Plan Gone HSLD Major 0 04-22-2005 03:13 PM


All times are GMT -8. The time now is 08:52 AM.