UPS Pension
01-24-2017 | 06:10 PM
#1
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From: 747 Captain (Ret,)
UPS Pension
Are new hires still covered by the A Plan (Defined benefit)?
The APC website says 1% times FAE, or flat $4,000 dollars per year times years of service, with a max of thirty years counted, with the flat dollar amount going up to $4,200 on 1/1/2021. Is this still true? Also, I am assuming that when it says 1% FAE or $4,000 times years of service that the or is interpreted as meaning whichever is greater, rather than whichever is less. I know the way my company would choose to interpret this phrase.
Also, what is the number of years for FAE?
Thanks,
Joe
The APC website says 1% times FAE, or flat $4,000 dollars per year times years of service, with a max of thirty years counted, with the flat dollar amount going up to $4,200 on 1/1/2021. Is this still true? Also, I am assuming that when it says 1% FAE or $4,000 times years of service that the or is interpreted as meaning whichever is greater, rather than whichever is less. I know the way my company would choose to interpret this phrase.
Also, what is the number of years for FAE?
Thanks,
Joe
Last edited by joepilot; 01-24-2017 at 06:23 PM.
01-24-2017 | 06:15 PM
#2
Doing One Pilot's Job
Joined: Sep 2005
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YES.
YES. Current rate is $4000 per year of service for CAs, $3200 per year of service for FOs. Flat dollar amount is almost certain to be higher than 1% FAE, which is the average high 5 in last 10 years of employment.
Also, don't forget about the 12% defined contribution.
The APC website says 1% times FAE, or flat $4,000 dollars per year times years of service, with a max of thirty years counted, with the flat dollar amount going up to $4,200 on 1/1/2021. Is this still true?
Also, don't forget about the 12% defined contribution.
01-25-2017 | 06:45 PM
#3
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From: F/O
03-09-2017 | 08:39 AM
#5
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From: MD CA
And another bummer, is the Flat dollar goes away after 2023. So if one retires after 2023 it goes back to the 1%. Lost of about 30K per year for a 30 year employee.
But hopefully the Flar Dollar will continue with the next TA. But there are no guarantees.
Thought this was weak. Accounting rules or not for the company. Now we will have to give something to keep the Flat Dollar.
But hopefully the Flar Dollar will continue with the next TA. But there are no guarantees.
Thought this was weak. Accounting rules or not for the company. Now we will have to give something to keep the Flat Dollar.
03-09-2017 | 09:47 AM
#6
Gets Weekends Off
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And another bummer, is the Flat dollar goes away after 2023. So if one retires after 2023 it goes back to the 1%. Lost of about 30K per year for a 30 year employee.
But hopefully the Flar Dollar will continue with the next TA. But there are no guarantees.
Thought this was weak. Accounting rules or not for the company. Now we will have to give something to keep the Flat Dollar.
But hopefully the Flar Dollar will continue with the next TA. But there are no guarantees.
Thought this was weak. Accounting rules or not for the company. Now we will have to give something to keep the Flat Dollar.
03-09-2017 | 12:16 PM
#7
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From: ONT f/o
True. You'll have to give two things: keep showing up to work, and keep paying dues to the IPA.
If the next TA doesn't have a retirement section you find acceptable, simply vote 'no'.
Please guard against the reaction that negotiation, even with the Brown 800-lb gorilla, is a zero-sum (or worse!) game. I find it in myself from time to time as well, unfortunately.
If the next TA doesn't have a retirement section you find acceptable, simply vote 'no'.
Please guard against the reaction that negotiation, even with the Brown 800-lb gorilla, is a zero-sum (or worse!) game. I find it in myself from time to time as well, unfortunately.
03-14-2017 | 11:53 AM
#8
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From: MD-11 Captain
Anyone over 55 can get out and not collect (no hit) till 60 to lock that pension in and find another flying job. How many that would be is unknown. In addition, their would be over 150 guys age 58-60. So ask yourself what you would do if you were in their shoes. Thus you could see over 650 guys/gals....
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