UnusualAttitude

I’ve had a great day. I intend to have a great tomorrow.

Laughing_Jakal

in fairness, I suggested in another thread we let the vitriol rest for the day. We lost a great guy.....2019 hire.....UnusualAttitude was probably unaware that's what I was referring to. I was not trying to be snarky, nor do I think UnusualAttitude was flippant.....crossed communication here

mdeshazo

How's the Kool-Aid?

CatIIAutoLand

-Single breasted jacket is coming this Fall. BTW the jacket is only worn 4 months of the year. Soooo hard. The hat I'll give you. But do they get to wear a tie at 3am every work day? That's when I show off my real professional attire.

-You do realize that Delta has way more contractually protected paid time off a year, right? Their sick leave blow ours out of the water and doesn't require a note until above 120 hrs, a full 48 hrs greater than all the sick leave we earn in a year. That difference makes up any gap in vacation CH.

-Our A plan is being given away for all new hires and anyone not already vested. Try again

-We have PBS. I don't care how much you try to say we don't, we 100% do. And all those folks don't get their schedules until 4 days before the next bid period starts. Simply insane



Yeah, upgrading to 737/320 CA at 1-3 years must be so terrible. I'd much rather wait the 11-13 years to make CA that it currently is projected here. *eyeroll*


Ohh, you mean like Delta, AA, and UAL all have or about to have as well? "Cash over cap" that goes to the exact same MBCBP you are so high on. No artificial IRS limits imposed.

NotMrNiceGuy

You do not understand the MBCBP plan and CoC relative to Delta. For one of our ten year WB Captains, this TA will lead to a massive shortcoming. The Delta Captain will contribute $100,000 less to his DC over twenty years. And Delta will contribute $400,000 more over that some 20 years. That means the Delta pilot will have $5,000 more annually in discretionary income. And he will have company contributions of $20,000 more annually in tax advantaged accounts annually. And this does not include Profit Sharing, which is pensionable. Probably estimated at $8,000 per year into tax advantaged accounts. Also doesn’t account for Delta’s 8.5% target which is superior to our 6.5%. Also doesn’t account for the investment returns over that 20 years.

Cash over Cap with a spillover MBCBP at 18% is far superior to our IRS limited 9%DC / MBCBP 11%.

Oh, and we’d have to spend more negotiating capital to get cash over cap in the next contract.

TomAce

Our MBCBP is awful. The Union loves it because you can save more of your own money in tax advantaged accounts. Without cash over cap there are serious risks of IRS limits staying flat for years and your contribution % decreasing. This year, a top rate widebody captain on new TA pay rates would max out at 9% contributions instead of the 11% advertised by the union. It’s DB only in name as only contributions are guaranteed. Which is literally meaningless over a long time period. There isn’t a 25+ year span of investing in US history that dollar cost averaging into an account left you with less money than you put in. The target rate is woefully inadequate relative to stock market returns. And you have no control of the money, as the company is the fiduciary. Should I keep going?

Delta’s set up is better. Eventual 18% DC with cash over cap spillover option into a MBCBP that’s managed by a 3rd party, not the company. Or pilots can take the cash over cap as taxable income and spend it elsewhere, like on real estate or some other income producing asset, which is smart instead of having all your retirement in a tax advantaged account that Uncle Sam probably will creatively try to tax years from now to avoid defaulting on all our outstanding government debt. Or, pilots could choose to spend the cash over cap on anything else they want. The fact our union didn’t even try to give us this option shows you how out of touch they are.

The only positive about the MBCBP is it provides a lump sum cash option instead of waiting on a pension that’s lost purchasing power for 25+ years. But the way our MBCBP is setup is a true disappointment.

Bottom line, be weary of anyone trying to sell you on this thing, especially if they say they’re taking the pension because of their timing. It’s likely they don’t know what they’re talking about.