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If the New variable annuity plan goes into effect as explained ish in the latest video/Q&A, we will be using average earnings. Guess which other group will get screwed. Every pilot that does military duty on mil leave. Any duty done during military leave will lower the average earnings, thus lowering your maximum possible pension. Right now mil time still counts towards your years of service.
This comment is specifically on the USERRA protections of retirement plans. Nothing else.Originally Posted by kwri10s
Here's another potential turd. If the New variable annuity plan goes into effect as explained ish in the latest video/Q&A, we will be using average earnings. Guess which other group will get screwed. Every pilot that does military duty on mil leave. Any duty done during military leave will lower the average earnings, thus lowering your maximum possible pension. Right now mil time still counts towards your years of service.
USERRA protects an employee with a pension plan (A, B, etc) . UAL pilots won a court case that used average hours if greater than guarantee to calculate B Plan credit. Previously, UAL only paid on guarantee.
At very least, average hours lost at FedEx while in military service would have to be restored as if you had not left and credited same.
Cheers
SD