Let's Talk Fedex 757 Pay Rates...
01-14-2024 | 07:37 AM
#151
Aspiring PSA Captain
Joined: Sep 2020
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01-14-2024 | 08:06 AM
#152
Line Holder
Joined: Mar 2023
Posts: 65
Likes: 0
Makes zero sense on one of the biggest parts of the TA isn’t being sent to the masses.
01-14-2024 | 09:23 AM
#154
Line Holder
Joined: Sep 2018
Posts: 90
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If we put more eggs in the B fund basket, you need a provision to keep B fund contributions while on LTD. Right now you keep pension years of service accrual but no B fund while on LTD. You never know when you’ll end up on LTD. It’s already a financial hit. Let’s not make it worse.
The other issue is that B fund bumps don’t help guys/gals with a short retirement horizon. Might need some provision for them. Just like you shouldn’t hose the young guys, it’s just as bad to hose the old guys.
01-14-2024 | 09:28 AM
#155
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Joined: Mar 2006
Posts: 1,479
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From: Crewmember
Im a 22 year guy that voted no. Would I have liked a big bump in retirement, you bet, but I was not willing to f--- over the rest of our union to get that. I think there were too many givebacks to QOL issues. I also believe all of that stems from pushing so hard for an A plan bump that is just too expensive. In order to get that bump we had to give up so much to me it wasn't worth it.
I have been planning on a 130 pension since I started. Anybody that has been here long enough to be close to retirement should have been planning the same, if not they are fools playing craps "Betting on the come" is a terible retirement plan. Our Retirement package is more than just the A Plan and it has been improved with every contract. We have gone from a $500 cash match in our 401K to 6% to 9%, that is a huge increase in retirement value.
When people say we are screwing the old guys if we don't get an A plan bump, as an old guy I disagree. What is screwing all of us is an A plan bump that is so large it caused the TA to fail.
In the Air Force we had a saying about new jets, You could have good, fast, or cheap. Pick 2. I believe that is where we are right now. we can have industry leading Pay including retro, better QOL, or pension. Pick 2. I think we can have Pay, QOL and a B fund bump with cash over cap for the cost of the A plan increase. Thats my choice.
I have been planning on a 130 pension since I started. Anybody that has been here long enough to be close to retirement should have been planning the same, if not they are fools playing craps "Betting on the come" is a terible retirement plan. Our Retirement package is more than just the A Plan and it has been improved with every contract. We have gone from a $500 cash match in our 401K to 6% to 9%, that is a huge increase in retirement value.
When people say we are screwing the old guys if we don't get an A plan bump, as an old guy I disagree. What is screwing all of us is an A plan bump that is so large it caused the TA to fail.
In the Air Force we had a saying about new jets, You could have good, fast, or cheap. Pick 2. I believe that is where we are right now. we can have industry leading Pay including retro, better QOL, or pension. Pick 2. I think we can have Pay, QOL and a B fund bump with cash over cap for the cost of the A plan increase. Thats my choice.
Some of us don't.
I served, but did not get my 20 due to the "Clinton peace dividend".
The A plan increase is more important to those of us who do not have a military retirement with its associated cost of living increases.
IMHO, the A plan increase was not enough, and did not represent 50% of my high five as it did in 1999.
My point is, those of us that have the benefit of a military retirement should not give away the A plan for those of us that don't.
The company can afford it. They just don't want to.
01-14-2024 | 10:03 AM
#156
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Joined: Mar 2023
Posts: 65
Likes: 0
If we were to pursue a Big B with cash over cap and leave the pension as it exists, the following considerations would need to be addressed to be a good improvement.
If we put more eggs in the B fund basket, you need a provision to keep B fund contributions while on LTD. Right now you keep pension years of service accrual but no B fund while on LTD. You never know when you’ll end up on LTD. It’s already a financial hit. Let’s not make it worse.
The other issue is that B fund bumps don’t help guys/gals with a short retirement horizon. Might need some provision for them. Just like you shouldn’t hose the young guys, it’s just as bad to hose the old guys.
If we put more eggs in the B fund basket, you need a provision to keep B fund contributions while on LTD. Right now you keep pension years of service accrual but no B fund while on LTD. You never know when you’ll end up on LTD. It’s already a financial hit. Let’s not make it worse.
The other issue is that B fund bumps don’t help guys/gals with a short retirement horizon. Might need some provision for them. Just like you shouldn’t hose the young guys, it’s just as bad to hose the old guys.
01-14-2024 | 11:14 AM
#157
On Reserve
Joined: Nov 2023
Posts: 113
Likes: 10
From: MD-11
My point exactly. FDX has the $ to fix it ALL. We just need the fortitude to make it happen. No A-plan increase of at least 20% is a No Vote. Been over a decade since one red penny has been added. And DAL/AAL hourly plus. And Scope. Trading and moving $ around ain't going to cut it. FDX needs to go get more Flour and make a larger pie. What they are spending on Stock buybacks in a quarter would cover everything. Period.
01-14-2024 | 02:59 PM
#158
On Reserve
Joined: Jul 2023
Posts: 140
Likes: 1
My point exactly. FDX has the $ to fix it ALL. We just need the fortitude to make it happen. No A-plan increase of at least 20% is a No Vote. Been over a decade since one red penny has been added. And DAL/AAL hourly plus. And Scope. Trading and moving $ around ain't going to cut it. FDX needs to go get more Flour and make a larger pie. What they are spending on Stock buybacks in a quarter would cover everything. Period.
I think that they would tell us we are barganing in bad faith and need to take 6 months off and think about what we want.
By the way I do not have a military retirement. Got kicked out for not making 04. I have been planning on a pension of $130k since I got hired. It would be nice to increase it but not at the expense of 75% of our crew force. If we ever want to get a TA that will pass we need to be way more equitable to the junior guys.
01-14-2024 | 04:00 PM
#159
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Joined: Mar 2021
Posts: 209
Likes: 10
Yes the company has more money. Delta and United had more money too, but there pilots didn't get it. What do you think is going to happen when you go in and demand an additional 2 billion dollars, knowing that we already got Delta + 30%? What are you going to do when the company says no? Hold your breath and stomp your feet. Everyone knows that the Govt will never, NEVER let us strike. What do you think the NMB is going to say when we tell them we want another couple billion?
I think that they would tell us we are barganing in bad faith and need to take 6 months off and think about what we want.
By the way I do not have a military retirement. Got kicked out for not making 04. I have been planning on a pension of $130k since I got hired. It would be nice to increase it but not at the expense of 75% of our crew force. If we ever want to get a TA that will pass we need to be way more equitable to the junior guys.
I think that they would tell us we are barganing in bad faith and need to take 6 months off and think about what we want.
By the way I do not have a military retirement. Got kicked out for not making 04. I have been planning on a pension of $130k since I got hired. It would be nice to increase it but not at the expense of 75% of our crew force. If we ever want to get a TA that will pass we need to be way more equitable to the junior guys.
Also, why do we only compare total value of TA divided by amount of pilots to get what we deserve? Why not look at percentage of company profit divided by pilot? If Delta is using say 30% of their profits (just an example as I’m not spending too much effort arguing in circles) for their pilots, why can’t we do the same thing? Take that to the negotiator. We have historically made a lot more. If they get to divvy up 5billion, we should get at least that. Like I said the numbers are way off but the principle is sound. %of company profit/pilot instead of some arbitrary pie number.
01-14-2024 | 04:52 PM
#160
On Reserve
Joined: Jul 2023
Posts: 140
Likes: 1
When was the last Major airline to strike. If my memory is correct it was American, and Bill Clinton put them back to work within the hour. Do you really think the Govt will let us strike while we have the postal contract? Really?
Fedex makes a lot more money, and we have over 5 times as many employees so if you split that by the number of employees we need to make 5 times what Delta makes.
Fedex makes a lot more money, and we have over 5 times as many employees so if you split that by the number of employees we need to make 5 times what Delta makes.
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