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Originally Posted by kwri10s
(Post 3852128)
The second aspect of an A plan that is not discussed is sick/injured/family care/etc. Feel free to check out your new hire class, if you've been here over 10 years, then 10% of them are out right now with some form of long term or permanent issues. That number will rise to 20% at the 20 year point. It could be any of us, isn't it nice to have a plan that covers lost income years if you need it. A good A plan solves the issue of "will I live in a van down by the river" at age 60. It at least covers a double wide in MS.
Ask the old guys why they think a bigger A plan is best and then interpolate that forward in your own life. [size=0pt]It's not an old vs young, it's an experienced vs optimistic. [/size] This ignorance is exactly why we have such issues with our pilot group...... modern airline 401k's offer retirement replacement when out on LTD. Delta, for example, doubles the company's direct contribution while a pilot is out on LTD (17% doubles to 34%). This is because their LTD is 50%, and uncapped I might add..... meanwhile we are getting steamrolled over here- LTD capped at IRS limits & no 401k on LTD. The pension must be fixed for older pilots who need it, but we all need to get aligned on a new retirement plan moving forward or face this same obstacle next negotiations. Fidelity will appoint executive services to individuals with 401k balances >$400k. So no need to understand investments either. |
Originally Posted by kwri10s
(Post 3852128)
It's not an old vs young, it's an experienced vs optimistic view. If you ask the "old" guys now, most of them wanted an increased B fund when they were young also. But with time and stock investing experience, we have come to eternalize the concept of diverse retirement options. In my investing lifetime, I've seen three 40%+ drops in the stock market. Plus the lost decade of the 2000s. It will happen again. You will lose half your retirement value at some time if you are invested in equities. An A plan is not bullet proof, but it certainly provides a separate leg for your retirement plan to stand on. The second aspect of an A plan that is not discussed is sick/injured/family care/etc. Feel free to check out your new hire class, if you've been here over 10 years, then 10% of them are out right now with some form of long term or permanent issues. That number will rise to 20% at the 20 year point. It could be any of us, isn't it nice to have a plan that covers lost income years if you need it. A good A plan solves the issue of "will I live in a van down by the river" at age 60. It at least covers a double wide in MS.
Ask the old guys why they think a bigger A plan is best and then interpolate that forward in your own life. [size=0pt]It's not an old vs young, it's an experienced vs optimistic. [/size] |
Spoken like a true pilot investor. What's your investing time? Last five years? Were you investing in 08'09'? Get a few years like that your last few years and see how your aggressive investments are doing.
if you don't want an A plan why did you come to FedEx? Should have gone to delta or united? A lot of us came to FedEx for the A plan now you want your own new B fund only carve out. You want all the money in your name/ control. So does Uncle Sam. Have you done any real retirement tax planning with RMD? When you pass, your kids are going to thank you for leaving them a big tax burden. |
I imagine a lot of peole are regretting their No votes now.
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No way, we have the company in a head lock and they are going to tap out and give us a sweet contract.
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Originally Posted by max8222
(Post 3852210)
Spoken like a true pilot investor. What's your investing time? Last five years? Were you investing in 08'09'? Get a few years like that your last few years and see how your aggressive investments are doing.
if you don't want an A plan why did you come to FedEx? Should have gone to delta or united? A lot of us came to FedEx for the A plan now you want your own new B fund only carve out. You want all the money in your name/ control. So does Uncle Sam. Have you done any real retirement tax planning with RMD? When you pass, your kids are going to thank you for leaving them a big tax burden. To be fair, they have 10 years to withdraw and they have money to pay the taxes. If you die they get exactly 0 from your pension. So in one they get the money after taxes and the other they get nothing. |
Originally Posted by Vidra
(Post 3852188)
This ignorance is exactly why we have such issues with our pilot group...... modern airline 401k's offer retirement replacement when out on LTD. Delta, for example, doubles the company's direct contribution while a pilot is out on LTD (17% doubles to 34%). This is because their LTD is 50%, and uncapped I might add..... meanwhile we are getting steamrolled over here- LTD capped at IRS limits & no 401k on LTD.
The pension must be fixed for older pilots who need it, but we all need to get aligned on a new retirement plan moving forward or face this same obstacle next negotiations. Fidelity will appoint executive services to individuals with 401k balances >$400k. So no need to understand investments either. |
Originally Posted by Pilotguy21
(Post 3852193)
Id rather have full control of my assets and unity in the Pilot group. I'm not scared of market ups and downs. If you're a smart investor you can minimize risk pretty easily.
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Originally Posted by max8222
(Post 3852210)
Spoken like a true pilot investor. What's your investing time? Last five years? Were you investing in 08'09'? Get a few years like that your last few years and see how your aggressive investments are doing.
if you don't want an A plan why did you come to FedEx? Should have gone to delta or united? A lot of us came to FedEx for the A plan now you want your own new B fund only carve out. You want all the money in your name/ control. So does Uncle Sam. Have you done any real retirement tax planning with RMD? When you pass, your kids are going to thank you for leaving them a big tax burden. Let's make some assumptions here. If I leave my kids 1 million and the tax rate is 50% by then, they will pocket 500k. When I die with my pension they get 0. I don't even have to ask them which amount they want. I keep hearing that we need to make the senior guys "whole". I have been here 23 years and am whole. The pension that was promised to me when I was hired is still there. When you came here where did it say that the pension would ever increase? If you haven't been planning on a 130k pension and setting aside your own money for retirement you have been a fool. By fighting to increase the pension we are just delaying any future TA, all the while we fall further behind our peers. |
The ones screaming for a pension bump have been here how long and have had how many times to say no without that bump?
Now that they are getting close to getting the pension all of a sudden the rest of us have to understand just how great the A plan is over any other plan. Keep the pension where it has been....those getting ready to leave are not getting any less then they knew all along they were getting. We need industry standard pay and B plan along with "alot" of substandard QOL issues to fix just to catch up to our peers.....i'm not even thinking industry leading anymore because we will never get there......... |
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