Retro Pay/Signing Bonus...How much is enough?
08-25-2015, 01:55 PM
#41
Gets Weekends Off
Joined APC: Jul 2006
Posts: 500
Pay now is great. I'd like to be greater than inflation so at least I am "improving" although really I might not be. But a frozen retirement means a huge reduction in buying power as a retired pilot.
You want a stark reality check. If I use a $130k value from 1998 projected forward using real CPI thru 2015 and 2.5% forward CPI. That means that if we have no increase in the retirement cap number for this contract and if you retire at the end of the six years in 2022. If you are still alive in 2040 or at age 78 (if retire at 60) your buying power will have shrunk by 64%. Something that cost 130k in 1998 will now cost 358k. That is what inflation is going to do to our retirement.
If we calculate backwards from 2022. The 130k retirement we get was only worth 74k in 1998 dollars. We will be receiving 43% less in retirement then we did in 1998. By 2040 your retirement will be worth 63% less than it did in 1998.
CPI Calculator to Calculate Future or Historical Inflation
Have fun with that link if you want to be sick to your stomach when you think about your future under a frozen retirement cap number.
Where is our retirement COLA? That's something I'd like to see in the language.
You want a stark reality check. If I use a $130k value from 1998 projected forward using real CPI thru 2015 and 2.5% forward CPI. That means that if we have no increase in the retirement cap number for this contract and if you retire at the end of the six years in 2022. If you are still alive in 2040 or at age 78 (if retire at 60) your buying power will have shrunk by 64%. Something that cost 130k in 1998 will now cost 358k. That is what inflation is going to do to our retirement.
If we calculate backwards from 2022. The 130k retirement we get was only worth 74k in 1998 dollars. We will be receiving 43% less in retirement then we did in 1998. By 2040 your retirement will be worth 63% less than it did in 1998.
CPI Calculator to Calculate Future or Historical Inflation
Have fun with that link if you want to be sick to your stomach when you think about your future under a frozen retirement cap number.
Where is our retirement COLA? That's something I'd like to see in the language.
08-25-2015, 07:27 PM
#42
Gets Weekends Off
Joined APC: Jan 2009
Position: Disenfranchised Cost Center
Posts: 170
And while we quibble over the plusses and minuses of a T/A we haven't seen yet, the Managing Directors and Senior VP's at FedEx Express are backslapping one another about their six figure bonuses from getting a T/A that we may or may not ratify in time to get the company through another "peak". We are such collective tools!
08-25-2015, 08:38 PM
#43
New Hire
Joined APC: Aug 2015
Posts: 1
I don't want a poor contract, but I agree with FDX1. Industry leading contract is certainly desired and a goal, but how long will it take to get that desired goal (IF at all) and how much more will need to be recouped for that delay?!
Most didn't like the interim 3%/3% pay raises, but we could be dealing with this decision without that extra money received over the past 3.5 yrs and wanting an even bigger signing bonus (probably unlikely). Don't miss the forest for the trees.
We have strong unity, but we will never have the upper hand over FDX. didn't happen in the extra postal flying, didn't happen with 777 pay rates, didn't happen with opening up CGN FDA.... Peak may be ugly, but there is the "wet lease" provision in the contract which will get FDX thru peak and pay us pennies to use that provision (btw at a reduced pay scale from 2012).
Not advocating to give in to a concessionary contract (defined as givebacks), but a fair contract with modest increases and some status quo is better than losing more money in all areas coupled with complete status quo for an indefinite time.
p.s. Wouldn't that signing bonus money be better used to buy FDX stock at this historically low $$$.,
Most didn't like the interim 3%/3% pay raises, but we could be dealing with this decision without that extra money received over the past 3.5 yrs and wanting an even bigger signing bonus (probably unlikely). Don't miss the forest for the trees.
We have strong unity, but we will never have the upper hand over FDX. didn't happen in the extra postal flying, didn't happen with 777 pay rates, didn't happen with opening up CGN FDA.... Peak may be ugly, but there is the "wet lease" provision in the contract which will get FDX thru peak and pay us pennies to use that provision (btw at a reduced pay scale from 2012).
Not advocating to give in to a concessionary contract (defined as givebacks), but a fair contract with modest increases and some status quo is better than losing more money in all areas coupled with complete status quo for an indefinite time.
p.s. Wouldn't that signing bonus money be better used to buy FDX stock at this historically low $$$.,
08-25-2015, 08:45 PM
#45
Line Holder
Joined APC: Aug 2007
Position: Bent over by Terrible Agreement
Posts: 63
Originally Posted by kwri10s
Pay now is great. I'd like to be greater than inflation so at least I am "improving" although really I might not be. But a frozen retirement means a huge reduction in buying power as a retired pilot.
You want a stark reality check. If I use a $130k value from 1998 projected forward using real CPI thru 2015 and 2.5% forward CPI. That means that if we have no increase in the retirement cap number for this contract and if you retire at the end of the six years in 2022. If you are still alive in 2040 or at age 78 (if retire at 60) your buying power will have shrunk by 64%. Something that cost 130k in 1998 will now cost 358k. That is what inflation is going to do to our retirement.
If we calculate backwards from 2022. The 130k retirement we get was only worth 74k in 1998 dollars. We will be receiving 43% less in retirement then we did in 1998. By 2040 your retirement will be worth 63% less than it did in 1998.
CPI Calculator to Calculate Future or Historical Inflation
Have fun with that link if you want to be sick to your stomach when you think about your future under a frozen retirement cap number.
Where is our retirement COLA? That's something I'd like to see in the language.
You want a stark reality check. If I use a $130k value from 1998 projected forward using real CPI thru 2015 and 2.5% forward CPI. That means that if we have no increase in the retirement cap number for this contract and if you retire at the end of the six years in 2022. If you are still alive in 2040 or at age 78 (if retire at 60) your buying power will have shrunk by 64%. Something that cost 130k in 1998 will now cost 358k. That is what inflation is going to do to our retirement.
If we calculate backwards from 2022. The 130k retirement we get was only worth 74k in 1998 dollars. We will be receiving 43% less in retirement then we did in 1998. By 2040 your retirement will be worth 63% less than it did in 1998.
CPI Calculator to Calculate Future or Historical Inflation
Have fun with that link if you want to be sick to your stomach when you think about your future under a frozen retirement cap number.
Where is our retirement COLA? That's something I'd like to see in the language.
08-25-2015, 09:05 PM
#46
Gets Weekends Off
Joined APC: Feb 2011
Position: Bus driver
Posts: 322
Originally Posted by WiseMan
I don't want a poor contract, but I agree with FDX1. Industry leading contract is certainly desired and a goal, but how long will it take to get that desired goal (IF at all) and how much more will need to be recouped for that delay?!
Most didn't like the interim 3%/3% pay raises, but we could be dealing with this decision without that extra money received over the past 3.5 yrs and wanting an even bigger signing bonus (probably unlikely). Don't miss the forest for the trees.
We have strong unity, but we will never have the upper hand over FDX. didn't happen in the extra postal flying, didn't happen with 777 pay rates, didn't happen with opening up CGN FDA.... Peak may be ugly, but there is the "wet lease" provision in the contract which will get FDX thru peak and pay us pennies to use that provision (btw at a reduced pay scale from 2012).
Not advocating to give in to a concessionary contract (defined as givebacks), but a fair contract with modest increases and some status quo is better than losing more money in all areas coupled with complete status quo for an indefinite time.
p.s. Wouldn't that signing bonus money be better used to buy FDX stock at this historically low $$$.,
Most didn't like the interim 3%/3% pay raises, but we could be dealing with this decision without that extra money received over the past 3.5 yrs and wanting an even bigger signing bonus (probably unlikely). Don't miss the forest for the trees.
We have strong unity, but we will never have the upper hand over FDX. didn't happen in the extra postal flying, didn't happen with 777 pay rates, didn't happen with opening up CGN FDA.... Peak may be ugly, but there is the "wet lease" provision in the contract which will get FDX thru peak and pay us pennies to use that provision (btw at a reduced pay scale from 2012).
Not advocating to give in to a concessionary contract (defined as givebacks), but a fair contract with modest increases and some status quo is better than losing more money in all areas coupled with complete status quo for an indefinite time.
p.s. Wouldn't that signing bonus money be better used to buy FDX stock at this historically low $$$.,
p.s. Are you afraid of losing your bonus money for screwing the pilots?
08-26-2015, 05:59 AM
#47
Gets Weekends Off
Joined APC: Apr 2009
Position: Mad Dog Capt
Posts: 226
Originally Posted by Full pull
Trying to sound like a pilot but didn't quite make it. I think the company attorneys are really getting scared.
p.s. Are you afraid of losing your bonus money for screwing the pilots?
p.s. Are you afraid of losing your bonus money for screwing the pilots?
Continued A Plan attrition/loss of value is a deal killer personally.
08-26-2015, 06:46 AM
#48
Gets Weekends Off
Joined APC: Feb 2013
Posts: 616
Originally Posted by WiseMan
I don't want a poor contract, but I agree with FDX1. Industry leading contract is certainly desired and a goal, but how long will it take to get that desired goal (IF at all) and how much more will need to be recouped for that delay?!
Most didn't like the interim 3%/3% pay raises, but we could be dealing with this decision without that extra money received over the past 3.5 yrs and wanting an even bigger signing bonus (probably unlikely). Don't miss the forest for the trees.
We have strong unity, but we will never have the upper hand over FDX. didn't happen in the extra postal flying, didn't happen with 777 pay rates, didn't happen with opening up CGN FDA.... Peak may be ugly, but there is the "wet lease" provision in the contract which will get FDX thru peak and pay us pennies to use that provision (btw at a reduced pay scale from 2012).
Not advocating to give in to a concessionary contract (defined as givebacks), but a fair contract with modest increases and some status quo is better than losing more money in all areas coupled with complete status quo for an indefinite time.
p.s. Wouldn't that signing bonus money be better used to buy FDX stock at this historically low $$$.,
Most didn't like the interim 3%/3% pay raises, but we could be dealing with this decision without that extra money received over the past 3.5 yrs and wanting an even bigger signing bonus (probably unlikely). Don't miss the forest for the trees.
We have strong unity, but we will never have the upper hand over FDX. didn't happen in the extra postal flying, didn't happen with 777 pay rates, didn't happen with opening up CGN FDA.... Peak may be ugly, but there is the "wet lease" provision in the contract which will get FDX thru peak and pay us pennies to use that provision (btw at a reduced pay scale from 2012).
Not advocating to give in to a concessionary contract (defined as givebacks), but a fair contract with modest increases and some status quo is better than losing more money in all areas coupled with complete status quo for an indefinite time.
p.s. Wouldn't that signing bonus money be better used to buy FDX stock at this historically low $$$.,
08-26-2015, 07:42 AM
#49
Line Holder
Joined APC: Sep 2014
Posts: 43
Originally Posted by Anthrax
Holy Bat $hit, Wise Man, how about first changing your username! POW! You obviously haven't been out there deep in the shizzle, red-eyed and half doped on coffee. ZAP! Two legs in, and two legs out. Na-na-na-na-na-na-na-na, BAT $hit! Give me pillow or give me death! And now, Gotham City (that would FDX) finds themselves undermanned and under assault. Who will come to their rescue? Wise Man, gaunt and sickly, deft at shredding papers and not so much at shredding @$$? Or will it be the Caped Crusaders (and that would be the pilots, or at least how we see ourselves)? There are dangers! ZING! Perilous turns at every corner. ZOW! ILSs to mins in the goo! ZOIKS! (OK, the zoik is the wrong cartoon, but work with me, people.) Treacherous maids opening doors. BOING! The villainous FAA, and the evil major. MUH-Ha-Ha! Tune in next week, boys and girls, same bat channel, same bat time, to discover if the Caped Crusaders crest the walls of Gotham City. Clear the streets of boxes and letters and lithium batteries? BOOM! Will they stand together upon those walls overlooking the nightscape, demanding just compensation for the dirty deeds of which they are about to endure? Or will they unite with Wise Man and his band of hairy men, lending their strength and good will until the very moxie in the marrow of their bones is spent, and all that is left in the golden years, that final ILS to the lowest of mins, is one final pillow in a wooden box, and a whisper of what could have been.
*slow clap*
That is a crapload of coffee!
08-26-2015, 08:06 AM
#50
Gets Weekends Off
Joined APC: Jan 2007
Posts: 1,196
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