What exactly is the PRAP?

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08-15-2015 | 01:23 PM

#11

All In

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Joined: Feb 2012

Posts: 285

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From: Clear Right

Its the last good deal at UA. Not as good as the pension, but it can't be stolen as easily.

FACT !!

08-19-2015 | 04:29 AM

#12

flap

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Joined: Dec 2008

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From: 777 Cap

Quote:

Originally Posted by flap

R&I guy so I see the reports on holdings, investments, balances etc

I will look to see if I can find the breakdown for you

Roth 401(k) is 14.6% of employee contributions

77% contribute and average deferral rate is 10%

08-19-2015 | 05:06 AM

#13

Winston

Squawking 2000

Joined: Jul 2015

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From: Skeptical

Quote:

Originally Posted by flap

PRAP is Pilot Retirement Account Plan

It is a combination of Company contributions (9% B Fund and 7% C Fund) and employee contributions.

I see this B Fund/C Fund breakdown on my PRAP statement. What's the difference between the two?

08-19-2015 | 05:31 AM

#14

NFLUALNFL

Pilot Response

Joined: May 2011

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From: A320 Captain

The B fund was there first, from 1 to 9 percent after ESOP ended; the C fund was created after bankruptcy and the pensions were taken. They are effectively the same; employer contributions over and above your regular pay.

08-19-2015 | 06:11 AM

#15

A320

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Joined: Dec 2010

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From: 787 Capt.

Quote:

Originally Posted by oldmako

Its the last good deal at UA. Not as good as the pension, but it can't be stolen as easily.

The A Plan was nothing more than an IOU. ALPA should have migrated away from such a plan 25 years ago but I guess Pan Am ,Continental, Eastern, and Branniff weren't proof enough.

08-19-2015 | 06:57 AM

#16

Dave Fitzgerald

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Joined: Mar 2012

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From: 777

Quote:

Originally Posted by A320

The A Plan was nothing more than an IOU. ALPA should have migrated away from such a plan 25 years ago but I guess Pan Am ,Continental, Eastern, and Branniff weren't proof enough.

ALPA this, ALPA that. Go ahead and blame ALPA.

You guys seem to think that ALPA controls the companies money. There were several efforts over the years to take that money from the company and fund it or annuitize it. A couple by me, and others by Council 34. But that would have required money up front from the company. Something they were never going to do.

You want to make a change, go to a union meeting and be part of the process. Learn a few things about how stuff works.

08-19-2015 | 10:09 AM

#17

oldmako

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From: The GF of FUPM

Quote:

Originally Posted by NFLUALNFL

The B fund was there first, from 1 to 9 percent after ESOP ended; the C fund was created after bankruptcy and the pensions were STOLEN. They are effectively the same; employer contributions over and above your regular pay.

Fixed it for ya.

08-19-2015 | 01:16 PM

#18

NFLUALNFL

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Joined: May 2011

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From: A320 Captain

Touche'

I yield the balance of my time to the Gentleman from Virginia.

08-19-2015 | 01:43 PM

#19

oldmako

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From: The GF of FUPM

As far as being a Gentleman, I'm certain that I seldom qualify. But I thank you for elevating my lowly social status, if even temporarily.

This beverage could be considered a reasonable stand in, but would not be my first choice. WRT to the floor, no yielding required as I no longer have much to say. I am temporarily verklempt.