UAL Mechs are on the march

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06-10-2015 | 06:14 PM

Grumble

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UAL Mechs are on the march

"A spokeswoman for the mechanics said the group is looking "to restore the defined benefit pension plan for all members, move health care into a multi-employer plan to dramatically reduce the overall costs of benefits and for continued job security and industry-leading wages."

Are these guys crazy, they want to go back to a defined benefit? The traditional idea of a pension is great, but if the last 15 years should've taught us anything it's that once you retire you do not want your financial security still tied to your previous employer.

I do hope they stem the tide of outsourcing. We need their experience and knowledge. Good luck to them.

United Airlines' mechanics pound the war drums as they rally at UA shareholders confab - Chicago Business Journal

06-11-2015 | 01:11 AM

Regularguy

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Don't forget, all things are negotiated and have a cost associated with them.

A defined benefit plan makes certain assumptions about the future while a straight cash 401K pays out in today's dollars and leaves the future assumptions up to the individual. Who do you want in control of your future?

06-11-2015 | 11:42 AM

John Carr

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Quote:

Originally Posted by Grumble

Are these guys crazy, they want to go back to a defined benefit? The traditional idea of a pension is great, but if the last 15 years should've taught us anything it's that once you retire you do not want your financial security still tied to your previous employer.

I would have to ask my family member that used to work in UAL MX what they got in the BK as a retirement plan. If it was JUST LIKE THE PILOTS and they canned the DB and went to different method. Although I can't remember if that was round 1 or round 2. I'd think it was in round 2, but just can't remember.

But that link is only a snippet of what was talked about.

Who's to say they AREN'T asking for a healthy 401k/DC like the pilots got PLUS a DB plan?

It's NOT just Dubinski that had the balls to shoot for the moon ya know..........

Along the lines of what "Regularguy" said, could just be part of the negotiation process.