Noworkallplay

Im talking the nomination phase. So yes I'm very informed. Many elections had only one nominee. Officer position are even worse when it comes to participation.

kronan

Yes TonY C, I'm still "guessing". I'm guessing that it doesn't make sense to Provide Insurance coverage for free.

I'm also guessing that there was a Reason FedEx offloaded 41k Pensioners and 6 Billion dollars Pension Assets to MetLife a few years back.
Fastburner can, and has, provided the links to our Pension Trust historical performance.
So, tell me TonyC, why do you think FedEx offloaded responsibility for Pension funding to Metlife.
Could it perhaps be the 41,0000 * $86 = $3,526,000 in Premiums paid to the PBGC, annually? Or was the PBGC coverage free to those 41k Retirees and it was for some other reason?

kronan

Openers were equally vague in 2004, 2010, 2013. If you set precise numbers on anything, well, that's the highwater mark.
As Hank Rogers told me some years ago when I was kvetching about something, possibly a grievance settlement, Goal of the Union is twice the pay for half the work, goal of the company is twice the work for half the pay. Tends to work it out somehwere in the middle.

We want More would've been just fine with me as an opener.
Was pleased to see one of our goals is additional Disruption compensation.

Was unsurprised to see the Company opened Ch-4. (Shhh-that's where some of the hidden money that the internet insists doesn't exist, and yet I somehow earned last month-didn't even have to submit a paylog for it)

pinseeker

Agree with the high-water mark comment completely. So, since the MEC has put out numbers on the variable benefit plan and even a calculator to show how well it can work, why isn't that the high-water mark? I guess you agree that we should expect less than what they put out in 2017-2018, since those numbers are now the high-water mark.

Noworkallplay

The modeler was just that. A modeler. The numbers have to be negotiated like every number in our contract. No different than if they put a modeler out of our current A plan formula that allows you to toggle the FAE, Multiplier and Years of Service. What a week argument you are bringing due to a modeler.

I don't remember a "high water mark" from it. It was purely a number spit out depending on numerous factors. Just like our current formula. Fighting with ghost type arguments again.

StarClipper

What happens if a pilot goes out on LTD? That’s a question which is yet to be answered

Noworkallplay

It was answered on one of the previous calls. Much like MIL leave question that has been asked numerous times that is federally regulated for armed services protection. They would be covered like our current plan is what they said. So make another straw man argument with no merit. These topics have already been covered all the way back to 2017 when I attended some of the retirement seminars.

Its like if one argument doesn't take hold the angry 12 just pick another one to see if it holds. Why do we even care when we don't have anything to vote on anyway. Once again straw man arguments with nothing to look at or argue against but we make up stuff to argue against. Keep at it angry 12!!!!!!!!!!!

StarClipper

How can it be covered the same way as the current plan? With the current plan, a pilot can go out on LTD for as it takes to get better, come back just in time to accumulate their high 5 and get 130K a year in retirement. With this new plan, you retirement will be based on how much you make year after year. Maybe you need to stop brown nosing, stop eating dry pancakes and start asking the tough questions. The questions which they don’t like.

HIFLYR

Funny you keep saying 12 angry, my experience is 99.9% of the people I fly with are against the variable plan!

kronan

Are you daft?
When our NC first discussed the various options they considered 3+ years ago one of the selling points of a PSPP style plan was never needing to negotiate an increasing cap, ever again. Unlike the way UPS sidesteps the increased costs of a Traditional Pension with their FDA value, which has to be negotiated each and every time. And is perhaps a part of the reason that UPS tends to take 4-5 years to reach a new TA. (4 years to get to CBA2006-5 year contract amendable in 2011 took 5 years to get to CBA2016 - 5 year contract amendable in 2021. Their bridge deal is definitely a great deal for us, as they set the bar for pay)

In 2016, the year the model\numbers were based on, the starting pay was $69/72 and it's now $81/84. Pensionable earnings capped at $265k and it's now $290k...and you don't think the floor would be even higher for that outlier 40 YOS of Service guy people use to ridicule the models?

If Cheiron rebuilt the Modeler to update Investment performance from 1999-2020, well, that would also improve the numbers as well for the generic pilot.
Prior iteration had fewer years of actual performance to through into the mix.
I'd like to think that we'd all agree that the last 3 years of stock market performance has been pretty good, but this is APC and the interweb.