Moneybags

From your contract comparison:

“It (the Flat Dollar Benefit) must be continually renewed with each successive new contract.” That sounds like negotiating risk to me.

Also from the same document: 25 year benefit is 113k for UPS, 130k at FDX.

I’ll take more money in less years of service.

And I’ll pass on the accounting tricks that have to be renewed every contract. This assumes we have to keep a pension for everyone.

Huck

Y'all must not know any UAL, USAir or Pan Am pilots of a certain age....

My uncle retired from UAL and he gets 36k a year from the PBGC.

But Fedex could never go bankrupt, right?

BertMacklinFBI

anything is possible with Raj DRIVEing the company.

Boxhound

I laughed everytime I stood on the ramp at AFW and looked west at the Prime Air facility.

Another "Prime" example

pun intended

Husker4Life

Sorry to see this post from Cachaco who seems to be a wayward UPS keyboard warrior. Myself, a 26 yr UPS pilot, and our entire UPS pilot group is hoping for the best possible outcome for your pilot group. When your group is strong and successful, that helps us as well. The only reason we have an A plan at UPS is due to pattern bargaining. YOUR A plan enabled us to fight for ours and to strengthen it as we moved forward. Fedex is the reason express mail has evolved to where it is today and your pilot group is the backbone of that innovation. You deserve to be recognized for your contributions and Fedex should be prepared to breakout their checkbook. Be proud of your heritage and stick together tight as you move forward. You will need everyone in the same boat as you head out to battle. Only through unity will you succeed. We wish you all the best in your negotiations.

Nightflyer

We just bought the former Amazon ramp at DFW. They expect flights operating out of it in April.

UnusualAttitude

One of the many reasons that many of the more junior purple pilots put less value in the A-Plan than our more senior near retirees. The longer you have until retirement the more risk you are assuming with the A-Plan, no different than putting your entire retirment savings into one stock, the same stock of the company providing your paychecks every month. I think your point is a good one even though the laws surrounding the PBGC have changed, which you, as a lawyer, likely understand better than most.

Moneybags

According to the annual funding notice that we get mailed to us each year, the total number of participants and beneficiaries covered by the Plan is 196,947.

If we sunset it, all pilots would receive their earned benefits, either those who stay in the plan and still earn future benefits as well or the ones who switch out of it and get what they've earned to date. So there wouldn't be this giant pot of extra money sitting around. The company only has to fund (or at least account for the funding of) the pension based on each year of earned benefit of a pilot, not any future years of service.

Why would the company ever agree to a COLA for the pension? Could you imagine the risk they would take on by that?

Stock buybacks don't count against net income. That's one reason they do them. Our already razor thin margins would be reduced further if they spent the same amount of money on salaries and pension benefits.

CloudSailor

You have really mastered the multiple quoting in your few posts.

Could it be you are a management dude on here, under a new username?

Seems like it.

This is what our pilot group majority wants: Improve tha A Plan, improve the B Plan, Fix Scope. In other words, let's open our eyes and learn from our brothers and sisters at Big Brown. Our biggest obstacle to achieving success since negotiations began has been FDXALPA, but times and the very-cozy-with-the-Corp. leadership, have changed.

Moneybags

I took a computer class in high school where we built a website about as complicated as this one. It's not cosmic.

We can do all the things you say, possibly, but isn't it worth being factually correct in the process? So much on here is just wrong. Nothing I've said is incorrect. Much of what I responded to was. It's ridiculous I get accused of being management just because you don't like what I'm saying.

I support a pension increase for the senior guys. They've earned it. Just let us junior folks have some sort of big DC type plan as well, and don't force on us an antiquated retirement that is reduced by inflation and is at risk to bankruptcy. A choice is beneficial to all.

And let's be honest, TA1 failed because of pay rates. Had they beaten Delta, it would have passed. 14% + Scope and QOL concessions, and it was dead in the water.