I would balance that with a read of the LEC 33 Chair message last night. I'll keep reviewing things before I vote but it seems 1) not clear that we have leverage to get anything we want and 2) no matter what the decision is there will be zero change in actual dollars from the company. What does change is where the cash goes. For me, shoving a decent chunk of additional cash into a CBP that can be rolled into other retirement accounts down the road is a big plus as I'm already trying to max what I can. For others the company limiting what they contribute to the PRAP (forcing pilot contribution) is an issue. Either way it's the same amount of money from the company.

When and where have I heard that before? Not directed at you, Chuck D.

Hey prove me wrong. That would be nice. But I'd sure like to have this option for 2025. Again zero difference in total dollars from the company.

But difference in wallet size for 60% of the pilot group apparently.

The money is the same, but how it grows now depends on us funding more of our own retirement. Delta as I far as I can tell does not have this problem.

Lump that in with waiver of company liability and I am willing to wait to get this right. There are permenant and temporary changes to the contract in this LOA that aren't worth an immediate tax shelter in July.

No difference in total dollars from the company, but a considerable difference in the interest those dollars earn. To the tune of hundreds of thousands of dollars over a career.

Not worth it just to have something in place now. We wait and do it right once we have a determination from the IRS.

Whats the 60% figure from? How many pilots seriously put nothing in their 401k? Serious question, I’d be surprised if most of us don’t put in something of their own.

I am putting faith in what C33 said. Whether that is true or not, I have no idea. The problem with those numbers are that it's probably averaged out accross the SL, making it so that only a small group of people probably would benefit from the way they have the plan structured at the moment. 100% of those over those over 59.5 would, however.

The biggest takeaway from the memo is this:

"Finally, this United proposed cap does not exist at Delta Airlines, which is the only otherpilot group with a MBCBP. Why would we expect to face a problem here at United whenthe IRS did not raise any such concerns (about the Contingent Benefi t Rule) with the DeltaMBCBP? If the company has concerns regarding this issue, then they should beaddressed as a PRAP problem, not be brought into consideration in the MBCBP."

Duh.

He sounds pretty spot on. I don’t like the way they worked this LOA.

At first I thought this was a good deal.

It's 30k in tax savings yearly for the way we run our finances and yes, more money would be routed to a money market in this plan, we'd just increase the stock vs. bond %'s in my normal account to compensate, but I'm interested to hear why the Delta pilots get a bigger chunk than the 46,500. Is it because they were offered a one time option to get out of the plan entirely? They were likely aware of the contingent benefit rule as well?

As far as LEC 33's V Chair saying only 40% of our pilot contribute the max to their 401k. Well, sure -- I had to limit my 401k on purpose to maximize the companies contributions. It's not because we're not wanting to invest up to the max or being lazy.

Anything we leave out now will be negotiating capital later for company. The Monday letters for and against will be interesting.