Hate to burst your bubble, but not a penny of the money in the trust is yours. It all belongs to the CAL pilots on LTD until the last guy leaves the plan.

Contractual language opens the POSSIBILITY of a quicker distribution but language allows the company to say when it is administratively feasible.

This will get the excess to CAL pilots quicker, but it should not be done at the expense of the pilots that are disabled.

Sluffing off the liability to an insurance company might add a level of risk to benefits that would result in litigation and other potential administrative and contractual responsibilities.

It's not as easy as some suggest.

It's all in the language, the company has already done what the agreement says they have to do. They considered it and said not at this time. It's not just a simple act of cutting checks, the process has to involve outside parties and the company decides whether or not to move forward. It sucks but it's also why we are where we are.

I gotcha. Does anyone supervise the company on this? Another words, does the language preclude the association from getting involved to insure the pilots rights are being protected? For some reason, I am just not trusting of the company and feel better when my union is keeping an eye on the money.

That seems reasonable to me. I just don't want the company holding the money longer than necessary, and/or for the purposes of providing additional self-insurance should any further age changes occur. An age increase, or further law changes in my opinion should trigger new negotiations and any over-payments or over-funded plans should not be used in those calculations.

Holy thread drift.......

Any updates on the snap up?

well sir...the company says in addition to the 3% Jan 17, we get 4.42% effective Feb 17, 3% Jan 18 (vs 2%), and 4% Jan 19. Anything else is pie in the sky.

Not according to the Negotiating Committee. As the company was salivating over Delta's profit sharing changes dragging those figures down, the same can be said for the increase they're to receive which in turn should lift our rates even higher.

I complete support their efforts and hope they are successful with the arbitrator.

Everything remains status quo until the company decides otherwise. The union can continually request to have the plan sold but the company can continually denY the request until such time as they see fit to assume the liability and move forward.

Their increase? Tell me about their increase in profit sharing. Hey, I support our NC's efforts as well...get all you can get while you can get it!! That's my motto. But i'm a little skeptical after reading the arguments. Time will tell. I do know that come Feb, my hourly rate will be 21.2% higher than the Jan 17 rates on the UPA. Man...the Extension was a SLAM DUNK.

Problem is that some pilots were contractually covered to normal retirement age as opposed to a set number