2% pay raise in Oct 2020
08-29-2020 | 09:23 PM
#151
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Joined: Nov 2017
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2% pay raise in Oct 2020
08-29-2020 | 10:13 PM
#152
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Joined: Oct 2015
Posts: 846
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We might as well just increase the B fund (plus cash over cap). Accomplishes the same and is less complex.
I was simply saying that we should shoot to match UPS’ DC of 12% as well as achieve cash over cap. However, I took what you said as meaning a DC improvement was the only advancement you were looking for. I don’t think that is enough. There must be an improvement to both elements of the retirement package. A and B funds deserve equal attention.
08-29-2020 | 11:49 PM
#153
Banned
Joined: Jun 2018
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In life when the rules change you either adapt or become extinct......
08-30-2020 | 04:19 AM
#154
Gets Weekends Off
Joined: Aug 2006
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Your question has been answered numerous times in the education material. You either haven’t listened/read any of it or you refuse to deal in facts. Either way, no one should have to spoon feed it to you, or do the education for you. Good luck in getting an increase to the current A Plan that’s meaningful.
In life when the rules change you either adapt or become extinct......
In life when the rules change you either adapt or become extinct......
Huh? So you are saying that the proprietary information that the MEC signed an NDA for is in the material published by the MEC?
This shows that you really haven't read anything or simply don't comprehend what is being written. The MEC has never published what is costs to fund our current A plan. As a matter of fact, the NC told me that the new VB plan was much more expensive to the company than the current A plan.
So why do companies want out of the DB game? It's all about mitigating risk. They are happy to pass as much of that risk on to you as they can. And that is where things get complicated with items such as floors and pancakes.
08-30-2020 | 06:37 AM
#155
Line Holder
Joined: Sep 2015
Posts: 34
Likes: 0
This battle cry from the union sounds Liberal and Gen Z.
How about: "Be responsible for your own retirement. Save money. Invest wisely."
Our union could save a lot of money by just improving pay rates and not wasting time and money creating and selling some pyramid scheme. Show me the money...not the pancakes.
08-30-2020 | 09:53 AM
#156
Line Holder
Joined: Jul 2010
Posts: 268
Likes: 1
From: BE-20, LR35
We don't NEED and increase to the current A Plan! I'm not actually sure we need an increase to the B Plan.
This battle cry from the union sounds Liberal and Gen Z.
How about: "Be responsible for your own retirement. Save money. Invest wisely."
Our union could save a lot of money by just improving pay rates and not wasting time and money creating and selling some pyramid scheme. Show me the money...not the pancakes.
This battle cry from the union sounds Liberal and Gen Z.
How about: "Be responsible for your own retirement. Save money. Invest wisely."
Our union could save a lot of money by just improving pay rates and not wasting time and money creating and selling some pyramid scheme. Show me the money...not the pancakes.
08-30-2020 | 10:47 AM
#157
On Reserve
Joined: Oct 2009
Posts: 128
Likes: 0
From: long haul
Merely an interested UPS observer here guys. Our B Plan contributions are 12% but the IRS limits that to $34,200 for 2020. That means at $285,000 you hit the max contribution. A lot of our FO's will hit this number this year and for Cpt's the contribution will be mostly in the 7-9% range. I like your cash over cap ideas like Delta.
Also, our pension numbers went up in our contract extension ratified in March. $4400 per year of service up to 30 years for a Cpt. We also gained a VEBA plan that puts $1 for every credit hour into a tax free account for health care costs that you can use starting at age 60. That seems to be the best way to gain some extra tax free cash that will be useable in retirement. I know our EB talks with your MEC frequently on a variety of issues. We're watching this with interest.
Also, our pension numbers went up in our contract extension ratified in March. $4400 per year of service up to 30 years for a Cpt. We also gained a VEBA plan that puts $1 for every credit hour into a tax free account for health care costs that you can use starting at age 60. That seems to be the best way to gain some extra tax free cash that will be useable in retirement. I know our EB talks with your MEC frequently on a variety of issues. We're watching this with interest.
08-30-2020 | 11:27 AM
#158
Gets Weekends Off
Joined: Nov 2017
Posts: 2,174
Likes: 1
We don't NEED and increase to the current A Plan! I'm not actually sure we need an increase to the B Plan.
This battle cry from the union sounds Liberal and Gen Z.
How about: "Be responsible for your own retirement. Save money. Invest wisely."
Our union could save a lot of money by just improving pay rates and not wasting time and money creating and selling some pyramid scheme. Show me the money...not the pancakes.
This battle cry from the union sounds Liberal and Gen Z.
How about: "Be responsible for your own retirement. Save money. Invest wisely."
Our union could save a lot of money by just improving pay rates and not wasting time and money creating and selling some pyramid scheme. Show me the money...not the pancakes.
It’s all part of the same pie. The pie will get bigger. The question is what part of the contract to increase. Your opinion seems like it’s, put all the increase in rates and be done with it. And that’s fine. But the idea of the union (us) wanting better A or B fund has nothing to do with liberals or Gen Z. It’s just a difference of opinion in where to improve our contract.
08-30-2020 | 11:34 AM
#159
Gets Weekends Off
Joined: Nov 2017
Posts: 2,174
Likes: 1
Merely an interested UPS observer here guys. Our B Plan contributions are 12% but the IRS limits that to $34,200 for 2020. That means at $285,000 you hit the max contribution. A lot of our FO's will hit this number this year and for Cpt's the contribution will be mostly in the 7-9% range. I like your cash over cap ideas like Delta.
Also, our pension numbers went up in our contract extension ratified in March. $4400 per year of service up to 30 years for a Cpt. We also gained a VEBA plan that puts $1 for every credit hour into a tax free account for health care costs that you can use starting at age 60. That seems to be the best way to gain some extra tax free cash that will be useable in retirement. I know our EB talks with your MEC frequently on a variety of issues. We're watching this with interest.
Also, our pension numbers went up in our contract extension ratified in March. $4400 per year of service up to 30 years for a Cpt. We also gained a VEBA plan that puts $1 for every credit hour into a tax free account for health care costs that you can use starting at age 60. That seems to be the best way to gain some extra tax free cash that will be useable in retirement. I know our EB talks with your MEC frequently on a variety of issues. We're watching this with interest.
We have a VEBA HRA as well. So the vehicle for cash over cap already exists in our contract. We simply need to add language that would direct all the excess B fund company contributions into it. This is exactly what UAL ALPA has in their contract since at least 2014. That’s what I would like to see in our next contract.
08-30-2020 | 11:58 AM
#160
Banned
Joined: Jun 2018
Posts: 1,838
Likes: 0
We don't NEED and increase to the current A Plan! I'm not actually sure we need an increase to the B Plan.
This battle cry from the union sounds Liberal and Gen Z.
How about: "Be responsible for your own retirement. Save money. Invest wisely."
Our union could save a lot of money by just improving pay rates and not wasting time and money creating and selling some pyramid scheme. Show me the money...not the pancakes.
This battle cry from the union sounds Liberal and Gen Z.
How about: "Be responsible for your own retirement. Save money. Invest wisely."
Our union could save a lot of money by just improving pay rates and not wasting time and money creating and selling some pyramid scheme. Show me the money...not the pancakes.
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