This is so dumb - we will vote this down, and then in 2 years we will get an identical product but with no MR vote attached, and 2 more years of PRAP Cash and an over funded RHA/AHRA.

Did anyone read last evenings Q&A? I still don’t see any downside to this LOA. My financial advisors love this - we can be more aggressive in other buckets because we are insulated with the bond mix in the CBP.

Typical C33 is just parroting half truths for their own agenda.

Remember, perfect is the enemy of good - and i don’t see any benefit in voting this down, and getting the same agreement, in 2 years without any of the tax shelters during that time.

 

Vote however you want. We don't have to agree with you, though.

 

fair enough - and I am glad we are arguing over this verses a Tumi TA, or furlough mitigation;-)

I don’t like that there is so much misinformation in this discussion, and ‘future’ concessionary fear mongering. I can say the company does not care how we vote, and frankly with the capital preservation feature - probably wants a no vote - that’s why we had to use negotiation capital to even get a CBP.

i don’t like the short term loss of the AHRA/RHA, but I still don’t see any actual and factual downside. I am all ears if there is something I am missing.

 

Still pushing through the material, but at this point I've gone from a 'gut feeling, word of mouth' NO to a YES.

Passing up the 1-2 years of CBP investment vs PRAP cash doesn't make sense for me.

 

Your financial advisor works for you. Not a memebership with over 17,000 pilots.
As for C33, you say half truths. The C33 reps voted on differented sides of the issue. I suppose youre talking about the C33 VC. Point out his half truths. The VC letter was great. Didn't blow smoke, and didn't give false hope, nor attempt to spread fear.
Funny you speak about half truths. You have been lied to. I'll reference your post in a week or two.

 

Overfunded RHA? Please. If you have an overfunded RHA you've either not followed the R&I guidelines on funding it or you're been at the top end of the pay scale since 2012 and you're willing to take 2 years of RHA funding away from the rest of us. I've heard as few a 10% of our pilot group has $250,000 much less the $315k recommended years ago from Fidelity. How about the FO or younger CA who isn't on the top of the pay scale? You're making him choose for 2-3 years whether to fund his retirement or fund his kids 529 plan or pay more on bills since this locks them in to using their paychecks for PRAP to max it while forcing money into the CBP so you can get more in retirement now. Meanwhile those same brothers/sisters at the lower end of the pay scale also have 2-3 years of funds stuck in 30% equities so you can have yours now.

"I got mine Ladder up" comes to mind.

Option B. Vote no. Live under the contract that says it'll happen when approved. When the Private Ruling Letter comes it's implemented as planned. We are given the choice where to fund OUR MONEY. That's the contract we all voted on.

 

+1

I want every dollar that’s eligible to go in to my PRAP, subject to IRS limits.

With the LOA, I’ll have to contribute my own money to the PRAP to prevent company contributions from arbitrarily going in to a bond heavy portfolio before I’m ready.

In addition, I’m not done funding the RHA. This LOA takes that option away from me.

 

The downside is where your money goes. Don't want the RHA or the underlying investments in the CBP and earn over 273K in 2025? You don't have an option with this LOA. For most of the pilot group based on their investment profile, they want that option.

 

The fact that the company contributions are capped at the IRS 415 limit in perpetuity was a deal killer for me. Glad your financial “advisors” are so giddy to make more money off you. My fiduciary firm told me to wipe my ass with this thing.

Sorry but there is nothing wrong with the current system, and if we need to wait for IRS approval to get the CBP with no strings attached… I’ll wait.

 

I suppose the vacation piece might be changed, what other strings do you think will not be attached in 2 years?