"TA or not a TA, that is not the question"?
08-22-2015, 03:31 PM
#61
Gets Weekends Off
Joined APC: Aug 2006
Position: leaning to the left
Posts: 4,184
Originally Posted by RedeyeAV8r
The difference above the IRS CAP is paid to us in cash and taxed at current rate.
Not a good deal
Not a good deal
FDX B plan pays 7% up to IRS 401(a)(17) compensation limit($265,000 in 2015)...Then stops, period.
Last edited by Busboy; 08-22-2015 at 03:59 PM.
08-22-2015, 07:00 PM
#62
Gets Weekends Off
Joined APC: Sep 2008
Position: 757 Capt
Posts: 107
If the rumors are true then I'm voting NO!!
I know I don't have all the facts yet, but if it turns out to be a 10% pay raise and then 3% a year after and retirement isn't uncapped, I'm absolutely voting NO. To me that would merely be another contract extension. We have continued to have our schedules optimized. We are working harder, more days per month, with more legs, shorter layovers, no weekend layovers, ridiculous deadheads and unreasonable banks. Come on just look around, airlines who haven't made money in a decade are rapidly closing in on us when it comes to compensation.
Plus each year the retirement cap is maintained our retirement becomes less valuable. I used to buy a can of soda for 25 cents and now the same can costs a buck or more. I believe our pay rates are just keeping up with inflation, but we are working much harder than we used too. Simultaneously the value of our retirement continues to decline due to inflation. This contract will last almost another decade (Yes 6 years plus the 2-3 years it always takes to get a new contract), there is a higher probability of increased inflation which will further erode the value our earnings and retirement.
I remember the fact that our careers got extended out to 65. How about another week of vacation for 5 more years of service, how about increasing the multiplier so we can get credit for 30 years instead of 25 towards retirement (then we could at least earn 60% of our high 5) and how about increasing the pay scale out to 20 years so we have higher pay rates for our longer careers. I'm sick of trying to just maintain the status quo, how about some improvements to pay, retirement, vacation and quality of life. I want an exceptional TA and I don't have any problem saying that I want the best pay, benefits and compensation in the business because I think we have earned them.
Going into peak, record profits, pilot shortage, record stock price, rapidly growing executive compensation and bonuses--I guess we probably don't have any leverage do we? I'm sure if we wait another 10 years the company will reward us for our patience and loyalty and we will probably have just as much leverage then too. Can you blame the company for offering us another crappy deal? We have gladly taken every other one they have given us. I really like my job, I don't think the company is evil, I just want what I have earned--A real pay raise, protecting the value of my retirement, and some quality of life improvements. You do what you want, but if the rumors are true I'm absolutely voting NO!!!
Plus each year the retirement cap is maintained our retirement becomes less valuable. I used to buy a can of soda for 25 cents and now the same can costs a buck or more. I believe our pay rates are just keeping up with inflation, but we are working much harder than we used too. Simultaneously the value of our retirement continues to decline due to inflation. This contract will last almost another decade (Yes 6 years plus the 2-3 years it always takes to get a new contract), there is a higher probability of increased inflation which will further erode the value our earnings and retirement.
I remember the fact that our careers got extended out to 65. How about another week of vacation for 5 more years of service, how about increasing the multiplier so we can get credit for 30 years instead of 25 towards retirement (then we could at least earn 60% of our high 5) and how about increasing the pay scale out to 20 years so we have higher pay rates for our longer careers. I'm sick of trying to just maintain the status quo, how about some improvements to pay, retirement, vacation and quality of life. I want an exceptional TA and I don't have any problem saying that I want the best pay, benefits and compensation in the business because I think we have earned them.
Going into peak, record profits, pilot shortage, record stock price, rapidly growing executive compensation and bonuses--I guess we probably don't have any leverage do we? I'm sure if we wait another 10 years the company will reward us for our patience and loyalty and we will probably have just as much leverage then too. Can you blame the company for offering us another crappy deal? We have gladly taken every other one they have given us. I really like my job, I don't think the company is evil, I just want what I have earned--A real pay raise, protecting the value of my retirement, and some quality of life improvements. You do what you want, but if the rumors are true I'm absolutely voting NO!!!
08-22-2015, 07:52 PM
#65
Gets Weekends Off
Joined APC: Jan 2006
Posts: 2,838
Originally Posted by Busboy
What?
FDX B plan pays 7% up to IRS 401(a)(17) compensation limit($265,000 in 2015)...Then stops, period.
FDX B plan pays 7% up to IRS 401(a)(17) compensation limit($265,000 in 2015)...Then stops, period.
08-22-2015, 08:26 PM
#68
Gets Weekends Off
Joined APC: Aug 2006
Position: leaning to the left
Posts: 4,184
Originally Posted by RedeyeAV8r
Actually I believe the Defined Compensation CAP B-FUND + 401K+ company Match+ Sick Buy Back (I think IRS 413) is Capped at $54,000K for 2014.
However, our B plan is capped in our contract by IRS Sec 401, with a compensation limit of $265,000 for 2015.
In 2015, if and when you reach that number, 265K...Your 7% B plan contributions end. Regardless of how much room you have left in your 415 limit of $53,000, you'll only get $18,550 in B plan contributions.
08-22-2015, 09:04 PM
#69
Proponent of Hysteria
Joined APC: Jun 2007
Position: "Part of the problem." : JL
Posts: 1,053
We are working harder, more days per month, with more legs, shorter layovers, no weekend layovers, ridiculous deadheads and unreasonable banks
My scheudle (by that I mean pairings) has gotten nothing but worse the last 10 years. Yet I'm 10 years more senior. I thought that's not how it was supposed to work?
I'd need a 20% raise and better pairings to even read the document before voting
08-23-2015, 04:27 AM
#70
Line Holder
Joined APC: Sep 2006
Posts: 62
Originally Posted by Busboy
It's IRS Sec 415. And, it was capped at $52,000 in 2014. $53,000 in 2015. (Plus catchup contributions if you're an old phart)
However, our B plan is capped in our contract by IRS Sec 401, with a compensation limit of $265,000 for 2015.
In 2015, if and when you reach that number, 265K...Your 7% B plan contributions end. Regardless of how much room you have left in your 415 limit of $53,000, you'll only get $18,550 in B plan contributions.
However, our B plan is capped in our contract by IRS Sec 401, with a compensation limit of $265,000 for 2015.
In 2015, if and when you reach that number, 265K...Your 7% B plan contributions end. Regardless of how much room you have left in your 415 limit of $53,000, you'll only get $18,550 in B plan contributions.
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