What should A-plan sunset be worth?
#11
Line Holder
Joined APC: Dec 2017
Posts: 48
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!!
#12
Gets Weekends Off
Joined APC: Dec 2023
Posts: 170
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.
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.
#13
Gets Weekends Off
Joined APC: Apr 2023
Posts: 139
Ha. What do you think a 130k pension is worth? Odds are it's not as much as you think.
#14
Gets Weekends Off
Joined APC: Aug 2006
Posts: 597
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.
The union has been doing Podcast hopefully they will cover a lot of this.
#15
Line Holder
Joined APC: Sep 2015
Posts: 26
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.
The union has been doing Podcast hopefully they will cover a lot of this.
#16
Gets Weekends Off
Joined APC: Jun 2013
Posts: 184
#17
Line Holder
Joined APC: Sep 2015
Posts: 26
They have some survivor options priced, but there are tons of variables (age of spouse and what percentage you want them to receive) If you select that option with Fedex, you won't be getting $130k per year - It will cost you.
#19
Line Holder
Joined APC: Sep 2015
Posts: 26
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.
#20
Gets Weekends Off
Joined APC: Feb 2008
Posts: 19,273
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.
"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.
Thread
Thread Starter
Forum
Replies
Last Post
DLax85
Cargo
11
01-18-2017 07:53 PM