Wolf Pack
08-18-2024, 01:05 PM
#201
Gets Weekends Off
Joined APC: Jul 2007
Position: Gear Monkey
Posts: 3,200
Yeah, a terrible thread to post this, but an interesting read for anyone who's logged on....
https://www.milliman.com/en/insight/...-funding-study
VR,
DLax
https://www.milliman.com/en/insight/...-funding-study
VR,
DLax
08-18-2024, 01:45 PM
#202
Gets Weekends Off
Joined APC: Dec 2006
Posts: 2,095
This can be found in the annual proxy statement.
https://s21.q4cdn.com/665674268/files/doc_financials/2024/ar/Proxy-Statement.pdf
Page 79.
https://imgur.com/8mWLka0
https://imgur.com/8mWLka0
https://s21.q4cdn.com/665674268/files/doc_financials/2024/ar/Proxy-Statement.pdf
Page 79.
https://imgur.com/8mWLka0
https://imgur.com/8mWLka0
08-18-2024, 06:44 PM
#204
Line Holder
Joined APC: Feb 2015
Position: FO
Posts: 38
Good stuff - especially the foot notes found on that page.
When pilots argue the lump sum value of the A plan, it's dependent on what discount rate and mortality tables one uses. The union could easily provide an on-line calculator to show pilots how much the company values their current retirement based on the company's own, published, assumptions.
When pilots argue the lump sum value of the A plan, it's dependent on what discount rate and mortality tables one uses. The union could easily provide an on-line calculator to show pilots how much the company values their current retirement based on the company's own, published, assumptions.
https://www.dol.gov/agencies/ebsa/employers-and-advisers/plan-administration-and-compliance/reporting-and-filing/form-
5500
1) Under quick links on the RHS select Form 5500 Filing Search
2) In the search window type: FEDEX
3) Sort by Plan Year (descending)
4) The desired filing is FEDEX CORPORATION EMPLOYEES' PENSION PLAN. 2022 is the most recently available year.
Its a 115 page PDF with all the tax filings up front. The audited financial statements start on page 30, but the relevant part for this discussion is on page 43 (page 12 of the financial statement), which talks about the actuarial present value of accumulated plan benefits.
MORTALITY BASIS:
The assumed rate of return is 6.5%
The mortality basis is ClubVita 2021 US VitaCurves model and Pri-2012 mortality table with MP-2021 projection scale.
**Of note, this doesn't indicate the usage of a separate mortality table for pilots. Contrast this with the next block, dealing with retirement age:
RETIREMENT AGE:
Ranges from 4% at age 55 to 100% at age 71 for non-pilots and 0.5% at age 55 to 100% at age 65 for pilots
It seems to me that if there was a separate actuarial table for pilots they would probably call it out in the assumptions here (since they call out the differing retirement ages for pilots vs. non-pilots here and through the rest of the document). This isn't dispositive....maybe the tables they use have some separate data for pilots. I did do a google search for the ClubVita tables, and in the underlying data it didn't specify anything different for pilots that I could tell, though I'm not an actuary. It did seem to have some different data for white collar vs. blue collar and industry of employment.
Enjoy!
Sled
08-18-2024, 07:18 PM
#205
Gets Weekends Off
Joined APC: Jul 2007
Position: Gear Monkey
Posts: 3,200
I had an actuary friend help me look up the Form 5500 filed with the US Dept. of Labor. You can find it yourself here:
https://www.dol.gov/agencies/ebsa/employers-and-advisers/plan-administration-and-compliance/reporting-and-filing/form-
5500
1) Under quick links on the RHS select Form 5500 Filing Search
2) In the search window type: FEDEX
3) Sort by Plan Year (descending)
4) The desired filing is FEDEX CORPORATION EMPLOYEES' PENSION PLAN. 2022 is the most recently available year.
Its a 115 page PDF with all the tax filings up front. The audited financial statements start on page 30, but the relevant part for this discussion is on page 43 (page 12 of the financial statement), which talks about the actuarial present value of accumulated plan benefits.
MORTALITY BASIS:
The assumed rate of return is 6.5%
The mortality basis is ClubVita 2021 US VitaCurves model and Pri-2012 mortality table with MP-2021 projection scale.
**Of note, this doesn't indicate the usage of a separate mortality table for pilots. Contrast this with the next block, dealing with retirement age:
RETIREMENT AGE:
Ranges from 4% at age 55 to 100% at age 71 for non-pilots and 0.5% at age 55 to 100% at age 65 for pilots
It seems to me that if there was a separate actuarial table for pilots they would probably call it out in the assumptions here (since they call out the differing retirement ages for pilots vs. non-pilots here and through the rest of the document). This isn't dispositive....maybe the tables they use have some separate data for pilots. I did do a google search for the ClubVita tables, and in the underlying data it didn't specify anything different for pilots that I could tell, though I'm not an actuary. It did seem to have some different data for white collar vs. blue collar and industry of employment.
Enjoy!
Sled
https://www.dol.gov/agencies/ebsa/employers-and-advisers/plan-administration-and-compliance/reporting-and-filing/form-
5500
1) Under quick links on the RHS select Form 5500 Filing Search
2) In the search window type: FEDEX
3) Sort by Plan Year (descending)
4) The desired filing is FEDEX CORPORATION EMPLOYEES' PENSION PLAN. 2022 is the most recently available year.
Its a 115 page PDF with all the tax filings up front. The audited financial statements start on page 30, but the relevant part for this discussion is on page 43 (page 12 of the financial statement), which talks about the actuarial present value of accumulated plan benefits.
MORTALITY BASIS:
The assumed rate of return is 6.5%
The mortality basis is ClubVita 2021 US VitaCurves model and Pri-2012 mortality table with MP-2021 projection scale.
**Of note, this doesn't indicate the usage of a separate mortality table for pilots. Contrast this with the next block, dealing with retirement age:
RETIREMENT AGE:
Ranges from 4% at age 55 to 100% at age 71 for non-pilots and 0.5% at age 55 to 100% at age 65 for pilots
It seems to me that if there was a separate actuarial table for pilots they would probably call it out in the assumptions here (since they call out the differing retirement ages for pilots vs. non-pilots here and through the rest of the document). This isn't dispositive....maybe the tables they use have some separate data for pilots. I did do a google search for the ClubVita tables, and in the underlying data it didn't specify anything different for pilots that I could tell, though I'm not an actuary. It did seem to have some different data for white collar vs. blue collar and industry of employment.
Enjoy!
Sled
Note: The Assumed "Rate-of-Return" (6.5%) on the funds assets is different than the "Discount Rate" used in calculating the "Present Value" of the payments in retirement.
08-28-2024, 11:11 AM
#206
Gets Weekends Off
Joined APC: Dec 2012
Position: alpa member
Posts: 107
Back on topic.
So when are these "buddy **********" gonna be wiped off the list? I see they are still bidding at the close of the Sept bid. Word on the street is CC is shi+ canned. I think about 20+ more need to go as well. Since we are overmanned this is a good place to start.
So when are these "buddy **********" gonna be wiped off the list? I see they are still bidding at the close of the Sept bid. Word on the street is CC is shi+ canned. I think about 20+ more need to go as well. Since we are overmanned this is a good place to start.
09-12-2024, 04:52 PM
#208
Line Holder
Joined APC: Jan 2008
Position: RJ Capt
Posts: 63
globalflair low performer
Back on topic.
So when are these "buddy **********" gonna be wiped off the list? I see they are still bidding at the close of the Sept bid. Word on the street is CC is shi+ canned. I think about 20+ more need to go as well. Since we are overmanned this is a good place to start.
So when are these "buddy **********" gonna be wiped off the list? I see they are still bidding at the close of the Sept bid. Word on the street is CC is shi+ canned. I think about 20+ more need to go as well. Since we are overmanned this is a good place to start.
Save these posts and heresay for the SM group. You're perfect over there. I hope you never get a trip that's more than bid pack swill. You don't deserve it as an obvious low performer.
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