More Cargo Cutouts
05-18-2024, 09:39 AM
#51
Custom User Title
Joined APC: Feb 2007
Posts: 2,271
The tentive agreement was the beast deal for any pilot on a global scale. This made the FedEx pilot the best compunsated on the planet. No other airline on earth had an agreement with a $1700,00 pension and some of the work purks we got. It saddens me you petulent kids don’t see it.
05-18-2024, 09:44 AM
#52
On Reserve
Joined APC: May 2024
Posts: 16
For retirement we are all in different places with regard to longevity, time remaining, pay grade, and progression (or lack thereof). So any plan to ease out of the current system would need to contain 25 different gradations of buyout or whatever the solution to make it fair. Dividing us into thirds or whatever is going to hose someone. But that was an acceptable goal to the old NC. Since we allow like a 9 year contract on property guys will probably end up retireing under one of those.
And is anyone else sick from the AC maintenance at AOC this week? Now my days off are ruined and I may be unfit for my trip next week. They were blowing moldy covid dust straight up my nose all week. Should insite to give data to JD offering us a middle finger.
And is anyone else sick from the AC maintenance at AOC this week? Now my days off are ruined and I may be unfit for my trip next week. They were blowing moldy covid dust straight up my nose all week. Should insite to give data to JD offering us a middle finger.
05-18-2024, 09:49 AM
#53
Line Holder
Joined APC: Mar 2024
Posts: 56
The focus on improving the pension ruined TA1. Other airlines got actual QOL and significant pay improvements today, while we focused on trading pay and QOL for deferred compensation in the future. It’s absolutely ridiculous argument that violates the principles of finance.
The future is uncertain. A pension loses value every year to inflation, depends on the financial longevity of the company, and if you and your spouse die shortly after retirement, the money is gone. You want to leave the company before 5 years? You get nothing. You die before retiring, and your beneficiary gets half of what you’ve accrued.
The 401k plans with MBCBP spill at other airlines combined with profit sharing is putting our retirement to shame. Pilots are getting money in their accounts today. It mitigates so many risks of an uncertain future, and provides pilots much more flexibility. Their plans also are protected from regulatory changes in IRS limits. They can always hire a financial advisor if they want to manage risk as they approach retirement.
The pension is the least efficient way to distribute capital in a contract negotiation because it’s so expensive. Any increase in it is retroactive to all earned benefits as well as future ones. And it’s a giant liability on the company’s balance sheet, so it’s not only an expense but also a significant risk to the business.
I totally agree. Stop messing around with increasing the pension for all, give pilots with 10 years or less to retirement some sort of multiplier bump used in previous negotiations or an increased retirement bonus. And then focus on improving the DC plan, ideally with some sort of spill option for everyone.
That also should help our negotiating pay rates that we have earned.
The future is uncertain. A pension loses value every year to inflation, depends on the financial longevity of the company, and if you and your spouse die shortly after retirement, the money is gone. You want to leave the company before 5 years? You get nothing. You die before retiring, and your beneficiary gets half of what you’ve accrued.
The 401k plans with MBCBP spill at other airlines combined with profit sharing is putting our retirement to shame. Pilots are getting money in their accounts today. It mitigates so many risks of an uncertain future, and provides pilots much more flexibility. Their plans also are protected from regulatory changes in IRS limits. They can always hire a financial advisor if they want to manage risk as they approach retirement.
The pension is the least efficient way to distribute capital in a contract negotiation because it’s so expensive. Any increase in it is retroactive to all earned benefits as well as future ones. And it’s a giant liability on the company’s balance sheet, so it’s not only an expense but also a significant risk to the business.
I totally agree. Stop messing around with increasing the pension for all, give pilots with 10 years or less to retirement some sort of multiplier bump used in previous negotiations or an increased retirement bonus. And then focus on improving the DC plan, ideally with some sort of spill option for everyone.
That also should help our negotiating pay rates that we have earned.
05-18-2024, 10:03 AM
#54
On Reserve
Joined APC: May 2024
Posts: 16
05-18-2024, 10:44 AM
#55
Gets Weekends Off
Joined APC: Aug 2023
Posts: 438
The focus on improving the pension ruined TA1. Other airlines got actual QOL and significant pay improvements today, while we focused on trading pay and QOL for deferred compensation in the future. It’s absolutely ridiculous argument that violates the principles of finance.
The future is uncertain. A pension loses value every year to inflation, depends on the financial longevity of the company, and if you and your spouse die shortly after retirement, the money is gone. You want to leave the company before 5 years? You get nothing. You die before retiring, and your beneficiary gets half of what you’ve accrued.
The 401k plans with MBCBP spill at other airlines combined with profit sharing is putting our retirement to shame. Pilots are getting money in their accounts today. It mitigates so many risks of an uncertain future, and provides pilots much more flexibility. Their plans also are protected from regulatory changes in IRS limits. They can always hire a financial advisor if they want to manage risk as they approach retirement.
The pension is the least efficient way to distribute capital in a contract negotiation because it’s so expensive. Any increase in it is retroactive to all earned benefits as well as future ones. And it’s a giant liability on the company’s balance sheet, so it’s not only an expense but also a significant risk to the business.
I totally agree. Stop messing around with increasing the pension for all, give pilots with 10 years or less to retirement some sort of multiplier bump used in previous negotiations or an increased retirement bonus. And then focus on improving the DC plan, ideally with some sort of spill option for everyone.
That also should help our negotiating pay rates that we have earned.
The future is uncertain. A pension loses value every year to inflation, depends on the financial longevity of the company, and if you and your spouse die shortly after retirement, the money is gone. You want to leave the company before 5 years? You get nothing. You die before retiring, and your beneficiary gets half of what you’ve accrued.
The 401k plans with MBCBP spill at other airlines combined with profit sharing is putting our retirement to shame. Pilots are getting money in their accounts today. It mitigates so many risks of an uncertain future, and provides pilots much more flexibility. Their plans also are protected from regulatory changes in IRS limits. They can always hire a financial advisor if they want to manage risk as they approach retirement.
The pension is the least efficient way to distribute capital in a contract negotiation because it’s so expensive. Any increase in it is retroactive to all earned benefits as well as future ones. And it’s a giant liability on the company’s balance sheet, so it’s not only an expense but also a significant risk to the business.
I totally agree. Stop messing around with increasing the pension for all, give pilots with 10 years or less to retirement some sort of multiplier bump used in previous negotiations or an increased retirement bonus. And then focus on improving the DC plan, ideally with some sort of spill option for everyone.
That also should help our negotiating pay rates that we have earned.
Also, how is their DC plan protected from IRS chafes and changes to the law? Did they get some sort of carve out that protects their 401 that nobody else gets?
So tell me, how much would you have to save to get $169,000 for life after retirement? You talked about dying early, but what if you live well into your 90’s or longer?
05-18-2024, 11:00 AM
#56
Line Holder
Joined APC: Feb 2024
Posts: 89
showing up and pressing on to be able to post online about having the biggest home in Eads, Tennessee! all that hard work to have that bragging right! what a guy!
05-18-2024, 11:03 AM
#57
Gets Weekends Off
Joined APC: Sep 2007
Posts: 110
JG big on pension
First time I heard JG speak he told us "you're not going to get everything you want, I'm big on the pension, 62 years old, you think TA 1 put most of the value into retirement for those about to retire and I can see how that is 'your' perception." I'm thnking he will fight hard for the new cap of 330 for himself.
We should get Delta plus 2% because we don't have profit sharing. Thus no reason to compare and give up line bidding, the current pension, or accept student lines.
We should get Delta plus 2% because we don't have profit sharing. Thus no reason to compare and give up line bidding, the current pension, or accept student lines.
05-18-2024, 11:10 AM
#58
On Reserve
Joined APC: May 2024
Posts: 16
First time I heard JG speak he told us "you're not going to get everything you want, I'm big on the pension, 62 years old, you think TA 1 put most of the value into retirement for those about to retire and I can see how that is 'your' perception." I'm thnking he will fight hard for the new cap of 330 for himself.
We should get Delta plus 2% because we don't have profit sharing. Thus no reason to compare and give up line bidding, the current pension, or accept student lines.
We should get Delta plus 2% because we don't have profit sharing. Thus no reason to compare and give up line bidding, the current pension, or accept student lines.
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