I dunno. I'm just guessing based on hearing that the average age of retirement now is 64 point something, and all the guys that I'm seeing waiting to retire until the month they turn 65.....Jaysus! Get outta my seat! Or at least stop flying an extra week of carryover every month

I'm pretty young, but I'm pretty dang tired. I can't imagine doing this for so long, and working so much extra.

So what's the history behind the B plan?

Origination date?

Original amount?

Subsequent raises?

The 2006 contract took it from 6% to 7%, but what happened prior?

It started at 6%.

By your quote "Looks to me that the union has no will to protect the pilot pension"; maybe it can be construed that Management dug in their heels and the Union has gone as far as it could with the current perception of pilot resolve? The company has very good data of our resolve by the way of VBB, AVA responses, number of pilots protecting carry-over, sucking up Open Time, etc. And, our previous MEC did us a disservice by not doing any kind of campaign to build our collective resolve up including a strike vote.

What say you now???

I don't have the 98 contract but it started with that contract at 6%. The 401k was pre Union with the low company match. My understanding is that the B Fund is only available in a CBA. The availability of a B Fund was one of the major reasons given to vote for a Union.

Didn't the B Fund replace Profit Sharing? I thought we took a guaranteed 6% instead of some unknown payout every year.

I think it all originates with Fred Smith and the fact the company is based in the mid-south. Unions are evil according to a huge percentage of the local population. Although the law requires good faith bargaining Fred has been engaged in revenge bargaining ever since ALPA first arrived in 93. His purpose has been to show the pilots plus all other potential union members such as drivers that the pilots made a huge mistake by voting the union in. His tactic has been divide and conquer. It is real tough to get 4000+ pilots reading from the same page when you face an opposition with a very defined command structure with one goal. Ask 100 pilots what the goal is and you'll probably get 100 different answers.

I believe you are correct. The profit share went away when the B plan was introduced.

The "B Fund" as part of the overall retirement package in the airline industry was instituted due to the fact that Part 121 pilots were required by law to retire at age 60. Since the "normal" retirement age has gradually risen over the years to age 65, pilots were at a disadvantage during their most lucrative earning years.

So the "B Plan" was designed to make up those dollars lost during that 5 year period. It was also categorized as a defined contribution plan.

Obviously, FedEx would like to transition to an all Defined Contribution retirement system (although they can't do it via bankruptcy like the Legacy carriers did).

So the question remains, how and when does this transition occur through negotiations? I maintain that it's the MEC's responsibility to educate the crew force about the various options that either could or should hapoen in the future. This is a very difficult task, I know, because not everyone's going to agree, but ultimately, the crew force needs to understand the options and the consequences of this change in the retirement system. Sticking your head in the sand and ignoring the elephant in the room is not the right way to go.

This change, or transition if you will, to a new retirement system is probably going to be the most divisive issue we as a crew force have ever faced, but we can't make a smart decision unless we get ourselves educated on all variables and how those changes will affect each one of us. The MEC MUST lead us in this direction, otherwise the company will use this issue to divide and conquer
us like they have on this TA.

I don't pretend to have all the answers, but we better start talking about this like adults, and soon, to make ensure the economic health of our families in the future, no matter when you got hired, and no matter what age you are,

IMHO, I could be wrong.

Champ42272