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Originally Posted by Vidra
(Post 3742221)
The 401k is not predicated on having a healthy career. However, it does require the company to double-down on the employer retirement contribution when a pilot goes out on LTD to make them "whole" (Ex: 17% goes to 34%). That is how they are successfully utilized at other airlines.
Another thing.. if my wife knew I had 6MM + in a retirement account, that would likely be enough for her to trade me in... 2.5MM and half a pension doesn't look as good to the boss.🤣 Happy New Year!! |
11% MBCBP doesn't even come close to replacing a 130k pension, or even a 170k pension.
Even with cash over cap, which doesn't make sense because we would have been the only airline to even have a cap on our MBCBP because of how poorly it was negotiated. |
Originally Posted by plzdontfireme
(Post 3742760)
11% MBCBP doesn't even come close to replacing a 130k pension, or even a 170k pension.
Even with cash over cap, which doesn't make sense because we would have been the only airline to even have a cap on our MBCBP because of how poorly it was negotiated. |
What do you think it is worth? Most pilots I fly with have no idea. They also do not know th IRS limits on the 401K, B-Fund much less how the protections on the A plan changed after all the bankrupt airlines occured. Also the tax advantages and disadvantages on the different retirement saving vehicles.
The union has been doing Podcast hopefully they will cover a lot of this. |
Originally Posted by max8222
(Post 3742853)
What do you think it is worth? Most pilots I fly with have no idea. They also do not know th IRS limits on the 401K, B-Fund much less how the protections on the A plan changed after all the bankrupt airlines occured. Also the tax advantages and disadvantages on the different retirement saving vehicles.
The union has been doing Podcast hopefully they will cover a lot of this. |
Originally Posted by Sloper
(Post 3743890)
Accoding to an available annutiy from Schwab, the cost to purchase a $130k/year annutiy retiring at age 65 and collecting immediately is $1,643,603.
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Originally Posted by Westerner
(Post 3743894)
Ours has the survivor benefit, that will increase the cost if not already included.
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Originally Posted by Westerner
(Post 3743894)
Ours has the survivor benefit, that will increase the cost if not already included.
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I can see it being 2 million depending on the age of the survivore. My point is Fedex doesn't give that benefit to you. You can elect the survivor benefit and what percentage they would receive. The cost for the survivor benefit is taken from the $130k you would receive without a survivor. When I run my numbers, the cost for the survivor benefit is around $1000/month.
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Originally Posted by Merle Haggard
(Post 3740674)
Windfall is a poor choice of words. Every cent of A plan value currently held and into the future has been either earned or negotiated. It is an asset (owned by the collective we) that must only be sold at what WE view as a fair price. We agree that this price is ENORMOUS. It is certainly not something that should be sunsetted for free because it's too difficult to do math.
"We're switching you to a new plan that will give you way more money and cost us a lot less" Must be weird to live in a fairy tale. |
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