Denny Crane

And you don’t think there will be further increases in both wages and the amount that is allowed to be set aside by the IRS?

That being said, even using your 50% over 30 years would give you closer to $3 million. Like I said before, ya gotta add in maximizing the contribution and making catchup contributions as well.

Denny

CBreezy

Yes, using TVM. Not in total dollars from the company. I acknowledge that any dollar of DC will benefit any new hire more than someone close to retirement. But the reason behind the annuity is to allow people to delay PBGC, SS and more until 70. So, between that massive cash infusion and the gains you get by delaying, how much more retirement are you going to get over a newhire? And again, don't think for one second we are going to get 9%. That's a very expensive proposal.

Iceberg

My guess would be the company will require a clause/exception in the language that requires a pilot to continue working until the latest day allowed by law to qualify for a plus up payout.

Cogf16

A big part of your argument is based on your belief that the 9% will be decreased. It's only fair to assume the "massive cash infusion" would be as well.

TED74

The PWA is used to define the boundaries of working conditions and compensation, for a defined time period. In the absence of a DB plan (which I don't want), I'm not sure I'm comfortable using the PWA to correct for adverse employment/economic conditions of the arguably-distant past. This almost seems like activity/side letter/loa activity that should take place outside of the PWA negotiation process. If the company wants to incentivize folks to stay through MRA, let them do so outside section 6. If folks think they were unfairly compensated during bankruptcy, head back to the courts. No one was forced to stay here after draconian wage cuts and many did not. No one was forced to return from furlough, and many did not. Each day we fly for Delta, we do so agreeing to the current PWA (as upheld or violated by management), with no expectation that some future agreement will compensate for shortcomings... at least that's my view when I don the horse blanket. It simply isn't practical to look very far back or forward, nor is doing so likely to result in compensation that is not only fair now but decades into the future. JMHO.

DWC CAP10 USAF

Do I personally think wages will go up over the next 30 years? Yes.

Did the wages go up at all between 1989 and 2019? Did the IRS limits change during that timeframe? I beleive the answer to both of those is yes.

Did wages go down at all? Bankrupcy, furlough, recessions? Are you telling me those won't happen at all during my next 30 years?

In my eyes everything that happened over the last 30 years with wages, IRS limits, and the industry, can happen all over again in the next 30 years, so all that is a wash.

The orignal statement was about $5M being worth $2M in 30 years due to inflaction....you said it was a "BS figure"....I was just trying to show the math using a simple inflation calculator that it wasn't as BS as you stated it was.

tunes

They do, from their military job.


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180ToAJ

Maybe you should write your congressman/senators to repeal USERRA. Just tell them you don’t think it’s fair and you are upset that they are legally required to receive some perks that you don’t get.

beis77

Yes, I understand the concept of a percentage raise and hope we all get a big one next contract. My issue with the MB as presented is that it feels like a bandaid (restoration-lite) fix for the deadzoners with little to no benefit to those hired post BK. Granted there are a lot of details that need to be fleshed out.

My question (rhetorical) is: what will we be giving up in negotiating equity to make MB happen, and is the offset worth it to all pilots? Are we giving up on higher DC %? Higher pay%? Better training pay? Etc. Rest assured, MB will cost us something. And is it worth whatever it will cost us? My gut instinct says “no”, hence my previous response to the OP’s poll.

Cogf16

You think 9%DC increase is "little to no benefit to those hired post BK??? Compounded for 10-35 years is a HUGE benefit. Do the math.