End the Pension Now, replace it with…
10-29-2024 | 06:46 AM
#1
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Joined: Jan 2018
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End the Pension Now, replace it with…
Heard this idea the other day that's not being talked about...
Pay each pilot 150K for every year of service into 401K or another retirement account he/she controls immediately
That would require ~10.5B of the 20+B currently in the pension fund
From that moment on every pilot gets 18% Cash over Cap into B plan. Get rid of MBCPBPBCPBCP notion
- Every current pilot instantly on the same plan (retired pilots stay on pension)
- Never negotiate retirement ever again, which frees NC up to hammer pay scales and QOL every cycle like Delta
- Eliminates the old pilot vs new pilot strife surrounding retirement priorities
- Eliminates yes voters based on retirement section alone
Big winners are our estates and our unity. I can't think of anyone who loses, including the company...
Discuss pros and cons
Pay each pilot 150K for every year of service into 401K or another retirement account he/she controls immediately
That would require ~10.5B of the 20+B currently in the pension fund
From that moment on every pilot gets 18% Cash over Cap into B plan. Get rid of MBCPBPBCPBCP notion
- Every current pilot instantly on the same plan (retired pilots stay on pension)
- Never negotiate retirement ever again, which frees NC up to hammer pay scales and QOL every cycle like Delta
- Eliminates the old pilot vs new pilot strife surrounding retirement priorities
- Eliminates yes voters based on retirement section alone
Big winners are our estates and our unity. I can't think of anyone who loses, including the company...
Discuss pros and cons
10-29-2024 | 08:14 AM
#4
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Joined: Jan 2018
Posts: 219
Likes: 22
And yes I know about the pension. Change the numbers to capture the pilots' share whatever that is
10-29-2024 | 08:22 AM
#5
On Reserve
Joined: Jul 2019
Posts: 193
Likes: 21
I like the premise of there being a buyout for anyone who ditches the pension moving forward. There needs to be some sort of compensation for relieving the company of the burden of maintaining the pension fund.
That being said, the fund is not just for us, and using that amount of money could jeopardize the fund for those still on the pension. Interesting idea, would like to see the numbers behind it.
That being said, the fund is not just for us, and using that amount of money could jeopardize the fund for those still on the pension. Interesting idea, would like to see the numbers behind it.
10-29-2024 | 08:40 AM
#6
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Joined: Aug 2023
Posts: 703
Likes: 56
Talk amongst your friends, AOC or the other pilot you are flying with. You could also send a DART with your ideas to your block rep, the MEC chair and the negotiating committee.
10-29-2024 | 08:44 AM
#7
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Joined: Jul 2008
Posts: 864
Likes: 50
From: B767
Heard this idea the other day that's not being talked about...
Pay each pilot 150K for every year of service into 401K or another retirement account he/she controls immediately
That would require ~10.5B of the 20+B currently in the pension fund
From that moment on every pilot gets 18% Cash over Cap into B plan. Get rid of MBCPBPBCPBCP notion
- Every current pilot instantly on the same plan (retired pilots stay on pension)
- Never negotiate retirement ever again, which frees NC up to hammer pay scales and QOL every cycle like Delta
- Eliminates the old pilot vs new pilot strife surrounding retirement priorities
- Eliminates yes voters based on retirement section alone
Big winners are our estates and our unity. I can't think of anyone who loses, including the company...
Discuss pros and cons
Pay each pilot 150K for every year of service into 401K or another retirement account he/she controls immediately
That would require ~10.5B of the 20+B currently in the pension fund
From that moment on every pilot gets 18% Cash over Cap into B plan. Get rid of MBCPBPBCPBCP notion
- Every current pilot instantly on the same plan (retired pilots stay on pension)
- Never negotiate retirement ever again, which frees NC up to hammer pay scales and QOL every cycle like Delta
- Eliminates the old pilot vs new pilot strife surrounding retirement priorities
- Eliminates yes voters based on retirement section alone
Big winners are our estates and our unity. I can't think of anyone who loses, including the company...
Discuss pros and cons
10-29-2024 | 08:44 AM
#8
Prime Minister/Moderator
Joined: Jan 2006
Posts: 45,164
Likes: 803
From: Engines Turn or People Swim
Need to get more creative on the distribution.
10-29-2024 | 09:03 AM
#10
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Joined: Jan 2018
Posts: 219
Likes: 22
No idea on legality but IRS and the lawyers would work it out. Gotta be a way to transfer a lump sum over and defer taxes. If you got to use a cash balance plan to do it then fine.
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