FDX - Retirement Survey
09-23-2016 | 02:26 PM
#31
Gets Weekends Off
Joined: Jul 2006
Posts: 494
Likes: 0
From: 777 CAP
Respectfully disagree.
FDX pilots wanted improvements to A plan. Company said "we cannot afford it." MEC voted to not allow discussion that didn't simply increase current plan.
There may, or may not be a way to add more money to pilot pockets. Perhaps some over age xx get more A plan, while others get more B plan, and win/win solutions exist. Or...maybe not.
Point is nobody will ever even know if discussions don't occur. We can cross our arms, stay quiet, and keep what we have for the next 6 years. Or--we can investigate options.
We have a new MEC chairman and new NC. I don't think anyone is interested in giving anything away, especially in this climate (stock popped over 6% yesterday). What I do think is that before any intelligent discussion can take place, the union wants a handle on the financial literacy of some of the membership.
Overall--I think our pilots are probably pretty sharp with their financial planning. However, everyone knows a few guys that are notable exceptions. Any discussion about where we are or potential improvements needs to be built around making folks understand what we already have. I'm fairly tuned in, but I still don't understand all the intricacies of survivor benefits, post retirement medical care, etc. A solid education campaign will likely benefit a lot of our pilots.
FDX pilots wanted improvements to A plan. Company said "we cannot afford it." MEC voted to not allow discussion that didn't simply increase current plan.
There may, or may not be a way to add more money to pilot pockets. Perhaps some over age xx get more A plan, while others get more B plan, and win/win solutions exist. Or...maybe not.
Point is nobody will ever even know if discussions don't occur. We can cross our arms, stay quiet, and keep what we have for the next 6 years. Or--we can investigate options.
We have a new MEC chairman and new NC. I don't think anyone is interested in giving anything away, especially in this climate (stock popped over 6% yesterday). What I do think is that before any intelligent discussion can take place, the union wants a handle on the financial literacy of some of the membership.
Overall--I think our pilots are probably pretty sharp with their financial planning. However, everyone knows a few guys that are notable exceptions. Any discussion about where we are or potential improvements needs to be built around making folks understand what we already have. I'm fairly tuned in, but I still don't understand all the intricacies of survivor benefits, post retirement medical care, etc. A solid education campaign will likely benefit a lot of our pilots.
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09-23-2016 | 02:47 PM
#32
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Joined: Mar 2006
Posts: 1,480
Likes: 20
From: Crewmember
09-23-2016 | 04:22 PM
#33
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Joined: Nov 2006
Posts: 8,047
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From: 767 FO
My plan is to listen to the union and make up my own mind. What is yours?
10-01-2016 | 09:57 AM
#35
Gets Weekends Off
Joined: Aug 2006
Posts: 538
Likes: 0
From: B777 FO FDX, C130 ANG
I'd be weary of any agreement that changed the language of our retirement. Increase the numbers without changing the words; fine! If we change our retirement language we will end up with another business class lay flat seat debacle... Generally, we need to just understand our retirement better as a whole IMO. We have a lot of guys that just don't understand the superior plan we have now.
Opening up this is a major can of worms. For example; right now if you go on disability you get your 2%/year until retirement. What happens if you agree to a Bplan only retirement? There are so many ways to get completely screwed by the company IMO...
Cheers!
Opening up this is a major can of worms. For example; right now if you go on disability you get your 2%/year until retirement. What happens if you agree to a Bplan only retirement? There are so many ways to get completely screwed by the company IMO...
Cheers!
10-02-2016 | 04:57 AM
#37
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Joined: May 2005
Posts: 1,286
Likes: 1
Agreed. I'm willing to listen to various proposals, but won't be voting "yes" for anything which will make me work harder and/or longer for the same amount of money.
10-02-2016 | 05:28 AM
#38
Gets Weekends Off
Joined: Nov 2005
Posts: 2,424
Likes: 0
From: 757 Capt
Some people will bust their hump regardless, because there's never enough money.
When I watch the UPS contract Comparison video, I learn that at least one industry B plan includes cash over cap and continuing contributions if you're out on disability.
Don't have clue 1 as to whether or why UPS FDA amounts are substantially cheaper in associated costs compared to our A plan (30 yr UPS Capt Pension cap almost equivalent to our 25 year Capt (or FO) plan) but it's surely something I hope our hired guns are checking into.
I would like to think FedEx Mgt is smart enough to look around the industry and realize that we are going to be competing for a diminishing pool of pilots and adjust\tweak\improve our retirement plans prior to CBA 2022\23.
Then I reread my statement and consider how many other things I'd like to think FedEx is smart enough to do....
When I watch the UPS contract Comparison video, I learn that at least one industry B plan includes cash over cap and continuing contributions if you're out on disability.
Don't have clue 1 as to whether or why UPS FDA amounts are substantially cheaper in associated costs compared to our A plan (30 yr UPS Capt Pension cap almost equivalent to our 25 year Capt (or FO) plan) but it's surely something I hope our hired guns are checking into.
I would like to think FedEx Mgt is smart enough to look around the industry and realize that we are going to be competing for a diminishing pool of pilots and adjust\tweak\improve our retirement plans prior to CBA 2022\23.
Then I reread my statement and consider how many other things I'd like to think FedEx is smart enough to do....
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