UPS- Pension the real target?
03-09-2009, 07:43 AM
#1
Gets Weekends Off
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Joined APC: Dec 2005
Posts: 129
UPS- Pension the real target?
UPS was recently shot down by Congress on pension funding reform. With the current state of the market, this could cost UPS well over a Hundred Million dollars to rectify. Why not propose a reduction to the A Fund of 1% - 1.5% for a short period of time. The proposal would look like this- reduction of A Fund 1% to 1.5%/ $1500/YR SERVICE until 12/20/2012. The rate would snap back on 12/21/2012, or earlier, if any pilot is furloughed. The market should recover to more normal levels by then, alleviating UPS funding shortfall.
03-09-2009, 07:55 AM
#2
Gets Weekends Off
Joined APC: Oct 2006
Posts: 138
It's against the law to reduce someone's accrued benefit.
See ERISA.
Probably why UPS would like legal reform. Congress really didn't help the pax airlines when they were all in the same boat. The ERISA laws work both ways (i.e., they both help and hurt the employees)
See ERISA.
Probably why UPS would like legal reform. Congress really didn't help the pax airlines when they were all in the same boat. The ERISA laws work both ways (i.e., they both help and hurt the employees)
03-09-2009, 08:05 AM
#3
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Joined APC: Dec 2005
Posts: 129
Not if the IPA members AGREE to a reduction on future payments as a cost cutting move. Pensions get frozen, reduced, taken away all too frequently. US Air, UAL, NWA, etc....
03-09-2009, 09:35 AM
#5
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Joined APC: Mar 2005
Position: 757 Capt
Posts: 679
pension
Why in God's green earth would the IPA want to start reducing pensions? I don't see any justification or "upside" for anyone but the company.
JMO
Pilot7576
JMO
Pilot7576
03-09-2009, 09:50 AM
#6
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Joined APC: Apr 2005
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03-09-2009, 10:48 AM
#7
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Joined APC: Feb 2008
Position: MD-11 Captain
Posts: 320
Do you really not know the answer to that question? The answer is obvious, screw the old guys!!!! No matter that they gave up a $3500 flat dollar for a $3000 flat dollar pension so that the younger group could get the big bumps in hourly rates to do away with the perceived b-scale. It's all about the "me generation".
03-09-2009, 10:53 AM
#8
Gets Weekends Off
Joined APC: Feb 2008
Position: MD-11 Captain
Posts: 320
I'm glad the NC and the previous EB attached our pension funding to the managers plan. Somehow I don't see the managers in ATL agreeing to cut or sever their pension plan so that the company can squeeze a little blood out of a few pilots. Now if the "junior cessna young and dumb crowd" convinces the membership to reduce pensions the next time around you can kiss the IPA or any union on this property goodbye. The only pilot group left will be a bunch of backstabbing managers selling eachother out.
03-09-2009, 11:03 AM
#9
Tri-tanic operator
Joined APC: Jul 2006
Position: Doggie
Posts: 2,382
I'm glad the NC and the previous EB attached our pension funding to the managers plan. Somehow I don't see the managers in ATL agreeing to cut or sever their pension plan so that the company can squeeze a little blood out of a few pilots. Now if the "junior cessna young and dumb crowd" convinces the membership to reduce pensions the next time around you can kiss the IPA or any union on this property goodbye. The only pilot group left will be a bunch of backstabbing managers selling eachother out.
... Take that you old fart ... What makes you think that the only dumb pilots here are young ?
23 years to the new retirement age and reducing the pension is the last thing on my mind. Maybe the impending furlough has taken the front burner for me. But building on our meager pension would peak my interest more than reducing it !
And just who is a junior cessna type ! Civilian pilot ?
Peace,
03-09-2009, 11:12 AM
#10
Banned
Joined APC: Sep 2008
Position: MD-11 CA
Posts: 174
UPS can completely do away with the pension for all I care. I haven't been planning on it being around anyway.
With all the old guys referring to the young guys facing financial ruin as the 'me generation' and the other names that guys like say again and jungle use, I'd be willing to guess that all the pilots around my age and younger would gladly sell the old guys pensions away. I know I would! I'd laugh my ass off at some of you crabby, crusy old dirt bags that are so willing to dump our newest guys to the street just so you can buy that bigger boat or airplane. I'll be glad to see you guys gone, that's for sure.
With all the old guys referring to the young guys facing financial ruin as the 'me generation' and the other names that guys like say again and jungle use, I'd be willing to guess that all the pilots around my age and younger would gladly sell the old guys pensions away. I know I would! I'd laugh my ass off at some of you crabby, crusy old dirt bags that are so willing to dump our newest guys to the street just so you can buy that bigger boat or airplane. I'll be glad to see you guys gone, that's for sure.
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