YYESIAV8

PurpleToolBox, I don't mean to sound stupid...though I probably am But this discussion really has me confused now.

Are you saying that if I max out my B fund contribution + $500 from company that all I can contribute to the 401K is $33,950?

53,000 - (18,550 + 500) = 33,950

RedeyeAV8r

Yet another reason "voluntarily" agreeing to do away with our A Plan and go to a "B fund" Only type retirement is a very Bad and short sighted idea.

busdriver12

From what he said, that sounds right. Your 401K before and after tax contribution, plus sick bank payout max would be $33,950.

TonyC

There it is ... the "Ahhhh" moment.





.

FDXLAG

Again there are alternatives to 401A limits like a back door Roth but yes given as things are now it would be stupid to give up our A fund. But it is hard to tell what the future holds. Imagine Alpapac gets it way and "pro labor" candidates sweep congress and the White House in 2016. They could easily confiscate our A Fund, B Fund and the jar of quarters on the dresser. Sometimes a dollar in your own name is worth more more than a promise of 2 dollars after you turn 65.

But has anyone proposed killing our a fund yet?

PurpleToolBox

If you want to send me a private message and send me your email, I will forward you the entire ALPA retirement message. It explains more details and scenarios (various pilots on different pay scales and contributions).

YYESIAV8

I have all the ALPA retirement messages, but to be honest reading those is almost as painful as reading the FOM. But probably not as painful as screwing up my retirement.

PurpleToolBox

Read the FDX Pilot Retirement Plans Update - 11/18/14. It explains everything in good detail and has different scenarios. I thought it did a good job of explaining this stuff. I'm not financial savvy and I could follow it.

Not trying to cause an argument or division because my negotiating committee speaks for me; however, what would be the harm in allowing pilots to choose the best of both worlds?

For example allowing a junior pilot take the increase B-fund while allowing a senior pilot take the pension plan, rather an enhanced pension plan? For those who take the increase B-fund their portion of the pension plan is frozen? I think giving the pilots a choice of which option would be best for them would be a good thing. I know some might see it as a slippery slope to ending the pension plan. Any thoughts?

RedeyeAV8r

While Choices may seem like a good thing, it can and usually sets a very bad precedent for the future when you have Pilots on the Seniority List covered by different Benefits.

Would future New hires, get the same choice?

Could a Pilot Change his or her Mind if they realized that maybe they made a serious mistake 6 months or 2 years later? Guess who they would Blame?

While we will never get everyone to agree 100% on every section of the contract and how it specifically pertains to us all Individually and demographically, It is just better and Fair to have a contract with Pilot Benefits that cover 100% of us with the same benefits.

Should we also explore

a Choice of Pay rates?

a Choice of Work rules?

a Choice of Vacation Benefits?

a Choice of Disability Benefits?

We need to look Long term (something we as Pilots aren't very good at)
How would changes like this affect the next contract and future subsequent contracts?
How would it affect Pilot Unity?

I have actually spoken with a few here Pilots who are willing to entertain PBS. (unbelievable)

What if they were given a choice every month?

sailingfun

The same limits apply at Delta however when you hit a limit the company still has to pay their portion. It just comes as ordinary taxed income where there is no limit. Essentially when you hit the 415c limit of 52k last year your hourly rate jumps 15% which is the amount of the company B plan contribution. I would check and see if that happens at FedEx and if not write it into the next contract.