Toccata

I think "addressed" would have been more of what I intended than "removed". This issue is being discussed on other posts. I certainly would be for the contribution from the crewforce to cease. Based on my latest check, well over a million coming from us. Probably closer to two million.

a300fr8dog

Toc,

We're on the same page, then.
Let's keep the dialouge going 'till 2011

Cheers

Whale Pilot

Just curious,

But didn't the bill state that the administrator had two years to put this into effect?

So what happens if they wait for two years after Bush sign's this?

Whale

angry tanker

As for the Fexex contract, they could do nothing at all. leave veba in place for the guys who go out at 60 (or dare i say earlier). if guys want to keep working till they die, fine let them. i do think there should be a report policy like they have for probationary pilots. simple questions of "Does the over 60 captain have control of bodily functions?" or "Does the over 60 person leave the left signal indicator on?"

Wild Bill

Will FedEx start withholding taxes on B fund contributions due to the rule change?

R1200RT

You can bet they will.
What is going to be funny is when without a bid for captain the junior SOs on the 10 get forced off and can go to any AC someone junior to them is on (MD capt) and the most senior SO are stuck on the panel.

Wild Bill

Congrats to Bob L. (seniority #100) who looks to be the last pilot to retire without additional tax burden to his B fund due to the rule change. Nice timing!

a300fr8dog

Bill,

I've ssen your worry expressed by many, and I don't follow why you would think we are in danger of taxation on b-fund dollars.

Our b-fund is basically deferred compensation, and overall a part of the 401k plan. Using pre-tax dollars to fund a 401k plan is nothing unique to just the piloting profession. Sears, GM, engineering firms, you name it. The general populace uses the same tax deferal scheme as you and I: a 401k plan. B-funds may have come into existance before 401k's were legislated and became all the glam, so that might be where this starts. To me, "b-fund" is just a short name for company paid matching funds. Again, not unique.

Seems to me, in order to go after the pilots, the IRS would have to get the rules changed for everybody.

I personally think your worry is unfounded, but maybe you know something I don't. If you do, could you post any reference to how our 401k rules are different? I think, in the meantime, I'll pop an email to the guy that publishes the Express Advisor. Anything I find out, I'll post back here.

Busboy

Ahhhh.....So THAT'S how they came up with the "proponents of hysterica" moniker.

iaflyer

The bill was effective immediately. The FAA has already put out a letter to operators that says, and I quote, "As of 12/13/07, part 121, § 121.383(c), specifying age 60, ceases to be effective."