Healthcare and retirement

 

Before we sign a deal, we need to make sure there is at least a 3%, maybe 4% pay raise each year past the amendable date. I am tired of the company paying a signing bonus that is a pittance of what I am owed in retro pay. That might also make the company less likely to drag it out so long, if they are forced to give annual pay bumps during the company extended drag out process.

 

Can we get our "retro"/signing bonus paid into our 401k as company contributions instead of as pay where we are taxed on it?

 

I'm guessing retirement.

 

Fear of mass exodus.






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[QUOTE=TonyC;1951353]Fear of mass exodus.

I think there will be one either way. Big group waiting to see what they might get but they'll either take any new benefits they waited for or shrug their shoulders and retire anyway. Maybe there will be a "delay-retirement-till-after-peak bonus" clause to help manage current manning shortage.

 

This all day everyday x 1000.

 

Why would any company agree to pay a 3-4% penalty past amenable date? Can't the unified labor group just decide to not agree to the terms of a new contract and be happy with the old rules and a 3-4% bump? I'm all for it but...I'm also for reality. Does anybody ever actually get this written into a contract?

 

No, never.

 

Yepp, either way, I see a very large group of retirement-ready folks pulling the plug when we get a TA, and I think The Company must fear the possibility, even the probability of not being able to man all the jets.

Fair to mediocre TA, and lots of loiterers will kick themselves for waiting so long to retire. A good or better TA, and lots of part-timers will pat themselves on the back for sticking it out, stick around just long enough to grab a signing bonus, and ride off into the sunset. Either way, jets will quickly outnumber captains.

Any one-time bonus to get us beyond peak will only kick the can down the road a bit. We need something more durable to stabilize the departures and give The Company the predictability it craves.

My suggestion: give the pilot a financial incentive to announce his retirement in advance. The pilot gives 1 year notice of planned retirement, he receives one amount, 6 months notice is rewarded with 60% of that amount, 3 months gets 30%. The amount? Why not tap into the deferred compensation the pilot has already earned? The pilot has already earned his sick leave and disability account, and The Company already carries that on its balance sheet as a liability. Why not let the pilot have what he has already earned?

The Company gets relief from the uncertainty of when a pilot will retire, and the pilot gets the money he has already earned. Additionally, The Company gets a more productive pilot in his final months and weeks. Some might call this a Win-Win-Win.

Of course, unforseen circumstances or life events might require the pilot to change his mind about his planned retirement date, so he gets a chance to retire sooner or later, but he might forfeit the benefit of early declaration. If the new date is later than the original, he still has a chance to declare and receive the "retirement announcement bonus." However, if he decides to retire sooner, he may only be able to receive the RAB for a shorter announcement-retirement term.

There are probably other solutions, but until a real solution is implemented, The Company has a strong motivation to delay the deal.






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