UPS Pilots Reach TA
07-01-2016, 04:40 AM
#11
Gets Weekends Off
Joined APC: May 2005
Posts: 1,273
Originally Posted by Vito
To some of our FEDEx brothers from a UPS guy,
UPS's B-plan is 12% and that's where our real money is, the bump in our A-plan is great, but the B-plan is the 800lb gorilla. Also the 5 year negociations time period has been stated numerous times, but we did receive a pay raise for one of those years so the actual time period that we were past our amenable date for calculating a "retro payment" isn't 5 years but closer to 3 And 1/2 years. Overall it's a good contract, retirement bump is excellent, retro/bonus, not so much. Lots of other improvements as well. One question, when did FedEx start your B-plan? I remember you guys had only the A-plan for awhile then added a B-plan in a later contract..what year was that?
UPS's B-plan is 12% and that's where our real money is, the bump in our A-plan is great, but the B-plan is the 800lb gorilla. Also the 5 year negociations time period has been stated numerous times, but we did receive a pay raise for one of those years so the actual time period that we were past our amenable date for calculating a "retro payment" isn't 5 years but closer to 3 And 1/2 years. Overall it's a good contract, retirement bump is excellent, retro/bonus, not so much. Lots of other improvements as well. One question, when did FedEx start your B-plan? I remember you guys had only the A-plan for awhile then added a B-plan in a later contract..what year was that?
07-01-2016, 05:42 AM
#12
Gets Weekends Off
Joined APC: Nov 2005
Position: 757/767 Capt
Posts: 642
Sluggo,
Without getting too detailed the A-plan has two formulas, one is 1% multiplied by number of years served (max 30 years) of Final Average Earnings, the other is a flat dollar amount multiplied by years served (max 30 years) , this flat dollar amount was increased in this T/A. So if you worked for 30 years, you'd take 30% of your final yearly paycheck and that's your yearly payout, or you can calculate the flat $ amount of $4000 (Capt) x 30. Whichever one is higher is your A-plan yearly payout. Personally my B-plan plus 401 is where the big bucks are, and that's my money, that no bankruptcy can take away from me or my HEIRS, the A-plan is great, the B-PLAN lets me sleep at night
Without getting too detailed the A-plan has two formulas, one is 1% multiplied by number of years served (max 30 years) of Final Average Earnings, the other is a flat dollar amount multiplied by years served (max 30 years) , this flat dollar amount was increased in this T/A. So if you worked for 30 years, you'd take 30% of your final yearly paycheck and that's your yearly payout, or you can calculate the flat $ amount of $4000 (Capt) x 30. Whichever one is higher is your A-plan yearly payout. Personally my B-plan plus 401 is where the big bucks are, and that's my money, that no bankruptcy can take away from me or my HEIRS, the A-plan is great, the B-PLAN lets me sleep at night
07-01-2016, 05:46 AM
#13
Gets Weekends Off
Joined APC: May 2005
Posts: 1,273
Originally Posted by Vito
Sluggo,
Without getting too detailed the A-plan has two formulas, one is 1% multiplied by number of years served (max 30 years) of Final Average Earnings, the other is a flat dollar amount multiplied by years served (max 30 years) , this flat dollar amount was increased in this T/A. So if you worked for 30 years, you'd take 30% of your final yearly paycheck and that's your yearly payout, or you can calculate the flat $ amount of $4000 (Capt) x 30. Whichever one is higher is your A-plan yearly payout. Personally my B-plan plus 401 is where the big bucks are, and that's my money, that no bankruptcy can take away from me or my HEIRS, the A-plan is great, the B-PLAN lets me sleep at night
Without getting too detailed the A-plan has two formulas, one is 1% multiplied by number of years served (max 30 years) of Final Average Earnings, the other is a flat dollar amount multiplied by years served (max 30 years) , this flat dollar amount was increased in this T/A. So if you worked for 30 years, you'd take 30% of your final yearly paycheck and that's your yearly payout, or you can calculate the flat $ amount of $4000 (Capt) x 30. Whichever one is higher is your A-plan yearly payout. Personally my B-plan plus 401 is where the big bucks are, and that's my money, that no bankruptcy can take away from me or my HEIRS, the A-plan is great, the B-PLAN lets me sleep at night
07-01-2016, 05:53 AM
#14
Gets Weekends Off
Joined APC: Nov 2005
Position: 757/767 Capt
Posts: 642
Sluggo 63,
I agree, I sat in my AF squadron watching my pax buddies have their retirements decimated. We are fortunate to be flying night freight, at least when it comes to retirement benefits. Now the trick is to make it to a long and healthy retirement����
I agree, I sat in my AF squadron watching my pax buddies have their retirements decimated. We are fortunate to be flying night freight, at least when it comes to retirement benefits. Now the trick is to make it to a long and healthy retirement����
07-01-2016, 05:56 AM
#15
Gets Weekends Off
Joined APC: Nov 2006
Position: 767 FO
Posts: 8,047
Originally Posted by ClutchCargo
FDX B Plan started in 1999. Does UPS B Plan cap out at a certain amount each year like ours does? About $18,000/year I believe.
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07-01-2016, 05:57 AM
#16
Gets Weekends Off
Joined APC: Nov 2006
Position: 767 FO
Posts: 8,047
Originally Posted by Vito
Sluggo 63,
I agree, I sat in my AF squadron watching my pax buddies have their retirements decimated. We are fortunate to be flying night freight, at least when it comes to retirement benefits. Now the trick is to make it to a long and healthy retirement����
I agree, I sat in my AF squadron watching my pax buddies have their retirements decimated. We are fortunate to be flying night freight, at least when it comes to retirement benefits. Now the trick is to make it to a long and healthy retirement����
I saw a bullet on better furlough protection, any highlights?
07-01-2016, 06:12 AM
#17
Gets Weekends Off
Joined APC: Nov 2005
Position: 757/767 Capt
Posts: 642
FDXLag,
I have t looked at that section yet. What I have read was under the "highlights" there is some language that will make any future furloughs a lot more costly to the company, so a disincentive. Also we still have the open time ban allowed if any pilots are furloughed.
I have t looked at that section yet. What I have read was under the "highlights" there is some language that will make any future furloughs a lot more costly to the company, so a disincentive. Also we still have the open time ban allowed if any pilots are furloughed.
07-01-2016, 06:57 AM
#18
Gets Weekends Off
Joined APC: Nov 2013
Posts: 2,756
Originally Posted by FDXLAG
Yes UPS caps out just like ours. They do not have cash over cap.
Same thing with the A plan. Decades ago, 130K/year sounded like a lot of money for retirement. Now, with inflation, much less. Can you think of how little it will seem like 20 years from now?
07-01-2016, 07:35 AM
#19
Gets Weekends Off
Joined APC: Nov 2006
Position: 767 FO
Posts: 8,047
Originally Posted by busdriver12
Having that cap made our B plan increases somewhat unexciting to me. While I would certainly like to have more of an increase, when it's limited to such a low level, it's far less valuable.
Same thing with the A plan. Decades ago, 130K/year sounded like a lot of money for retirement. Now, with inflation, much less. Can you think of how little it will seem like 20 years from now?
Same thing with the A plan. Decades ago, 130K/year sounded like a lot of money for retirement. Now, with inflation, much less. Can you think of how little it will seem like 20 years from now?
07-01-2016, 07:54 AM
#20
Gets Weekends Off
Joined APC: Mar 2005
Position: 757 Capt
Posts: 679
Originally Posted by FDXLAG
I agree although when you are working the first 10 years capping out the B Fund is nice. You have to figure that the total B fund over a 25 year career the 12% vice 9% probably makes a $50K difference. Of course our 2nd year 75 captains don't have to worry about that.
Are you guys at 9% now? I thought you just got bumped up to 8%? Even so, with the federal limit of $265k, 12% is $31,800 a year and 9% is $23,850 and 8% is $21,200. Even $8k a year over 25 years is $200k and that doesn't count the time value of money and compound interest.
Where are you getting $50k?
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