UPS-IPA TA: Total retirement vs FedEx
07-12-2016, 01:06 PM
#11
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Joined APC: Mar 2005
Position: 757 Capt
Posts: 679
Originally Posted by Commando
Having the Flat dollar go on into infinity has ZERO backwards cost to the company!
The flat dollar cannot go to infinity...it expires for this contract as it will for the TA. The whole point of the flat dollar is the company only has to fund it for the duration of the TA plus the negotiated extra chunk at the end. You need to call Pick or the new retirement chairman and get your facts correct on the flat dollar.
JTF
07-12-2016, 01:36 PM
#13
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Joined APC: Jul 2008
Position: MD CA
Posts: 705
Originally Posted by Busboy
So, the FDA has a date of expiration? If you are negotiating and don't have a new contract by that date, those that then retire revert back to the 1% formula? What is that date?
07-12-2016, 01:40 PM
#14
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Joined APC: Jul 2008
Position: MD CA
Posts: 705
Ours Contracts never expire. So why not have the FD not expire also? There should not be any dates of expiration. Just have the FD go with the Collective Bargaining agreement like everything else. They are amendable. No Dates.
(Flat Dollar=FD)
(Flat Dollar=FD)
07-19-2016, 10:29 AM
#16
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Joined APC: Nov 2005
Position: 757 Capt
Posts: 2,418
FedEx's A plan is 2% x YOS x High 5 (capped at 260)
No differentiation between Capt and FO, I am quite confident that many FedEx FOs already have capped out on their high 5, just as many, if not all, Senior Capts have done so.
B plan is at 8%, going to 9 in a few years. B plan capped at IRS limits w/no cash over cap. At FedEx, Disabilty bank capped at just under 10 years of sick time (72 per year). Any hours above that are paid into the B plan, if not above the IRS 54sh k limit for the year (don't remember the exact limit and it's a pain bouncing about on the iPad). If above the IRS limit, FedEx pays it out as taxable income.
Also with this new CBA, have the potential to get pennies on the dollar for a sick leave buyback if you retire with mucho sick and disability time assuming enough earnings in recent history. (Bribe to keep the Senior folks from using their benefits)
No differentiation between Capt and FO, I am quite confident that many FedEx FOs already have capped out on their high 5, just as many, if not all, Senior Capts have done so.
B plan is at 8%, going to 9 in a few years. B plan capped at IRS limits w/no cash over cap. At FedEx, Disabilty bank capped at just under 10 years of sick time (72 per year). Any hours above that are paid into the B plan, if not above the IRS 54sh k limit for the year (don't remember the exact limit and it's a pain bouncing about on the iPad). If above the IRS limit, FedEx pays it out as taxable income.
Also with this new CBA, have the potential to get pennies on the dollar for a sick leave buyback if you retire with mucho sick and disability time assuming enough earnings in recent history. (Bribe to keep the Senior folks from using their benefits)
07-29-2016, 08:55 AM
#18
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Joined APC: Mar 2005
Position: 767 captain
Posts: 2,696
Originally Posted by NotMrNiceGuy
Example: You served 20 years and you grossed $300,000 your last year.
$300,000 X 20% = $60,000
Is this the correct interpretation? Seems kind of low...
Can someone elaborate? Thanks.
$300,000 X 20% = $60,000
Is this the correct interpretation? Seems kind of low...
Can someone elaborate? Thanks.
07-29-2016, 07:36 PM
#19
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Joined APC: Oct 2015
Posts: 752
Originally Posted by 767pilot
It's a little lower than that even. There is an IRS limit of around 260,000 that can be used towards pensions instead of the full amount so it is closer to 260,000*20= $52,000
07-29-2016, 08:25 PM
#20
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Joined APC: Mar 2005
Position: 757 Capt
Posts: 679
Originally Posted by 767pilot
It's a little lower than that even. There is an IRS limit of around 260,000 that can be used towards pensions instead of the full amount so it is closer to 260,000*20= $52,000
I'm not sure what you're talking about but that is NOT the ups A plan. It is based on fae for 5 yrs (max of 300k) or fda (currently 3k/yr but moving to 4k and up to 4.2k per year in the TA).
The 260k is the fedex CONTRACTUAL limit for their A plan. All B plans are based on the IRS 265k limit.
JTF
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