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401K Grievances at NetJets

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FLYLOW22

FLYLOW22

Well-known member
Joined
Jun 3, 2004
Posts
2,382
Contact your Union for details on how to file your individual grievance.

Just do it.

Unless you like bending over and taking it like a champ... then don't file.

That is all.
 
If you dont understand what is going on, or why you should be doing this, then please get informed. Call a representative, call a friend. Hell, call Fischman. Just butter him up by saying how awesome he is.
 
If you don't get it, then you aren't a NJ crewmember. Its not about the manager, it was the blatent disregard of due process. Move along.
 
shroomwell said:
I don't get the big deal with changing fund managers.
Click to expand...

Two issues:

First, it's not the change of fund managers, it's the change of funds that's the issue. The new plan doesn't have nearly the quantity or quality of funds that we had with Fidelity.

Second, it's in our contract, in plain English, that the plan doesn't change without mutual consent. If it weren't a big deal, they would have gotten the consent easily. We have a history of working with management for good, mutually-beneficial solutions. But they didn't even try. They just gave us the finger and did it.


That's what happens when a union-busting lawyer, hired by an insider-trading scumbag, is put into a CEO position.
 
CA1900 said:
Two issues:

First, it's not the change of fund managers, it's the change of funds that's the issue. The new plan doesn't have nearly the quantity or quality of funds that we had with Fidelity.

Second, it's in our contract, in plain English, that the plan doesn't change without mutual consent. If it weren't a big deal, they would have gotten the consent easily. We have a history of working with management for good, mutually-beneficial solutions. But they didn't even try. They just gave us the finger and did it.


That's what happens when a union-busting lawyer, hired by an insider-trading scumbag, is put into a CEO position.
Click to expand...

Bingo bango bongo!!!

If I am trying to sell a car that grinds every time it turns right, I'm gonna make sure the buyer only makes left turns.. If I have a brokered fund that is worse than the current one, I'm NOT going to reveal any information about it, or as little as possible...

On the other hand, if I have a car that handles like a dream I'm taking it to the track. If I have a fund that is better than the current one I'm going to post that sh!t for every one to see.

Scammers try to reveal as little as possible. And then "tell" you it's the best without providing any facts to support it.
 
Yup. I have personally helped 10 pilots file. If you need help contact me. I'd be happy to give you a hand.

THE 495 CAN FILE TOO. CONTACT THE UNION OFFICE TO GET GOING.
 
And beyond changing fund managers and breaking the contract to do it, we don't get to chose where they "map" our money during the blackout period. Their mapping is costing me thousands of dollars if the market stays up today. We are supposed to get control back after Christmas, but by then I've already lost the money. They put my stock funds at Fidelity into bond funds. The stock funds I was in have gone up a few percent. The bond fund they "mapped" me into has gone down. That is thousands of dollars they have lost for me by not even putting me into similar funds. They mapped the Fidelity S&P 500 into a total bond index fund instead of into the similar Vanguard fund that they are going to offer anyway. That is freakin' ridiculous and is costing me money. That is not acceptable. I am going to take every option available to get back the money they have lost me. Less than 5 minutes to file a grievance is the easiest part.
 
CA1900 said:
If it put more money in our pockets, they wouldn't be attempting to do it this way.
Click to expand...

100% correct!!!

If it really was a better deal they would be swamping us with info supporting it. As it stands they are enduring pickets, a CAG, and mass grievances.... All because they know it is a worse plan, pilots will lose $$...

They're only defense is "thousands of options is a great deal.." Where the reality is it is still less options than we had. It is a downgrade in 401(k) providers. Without mutual consent.

In roughly 2 years of contributing to the Fidelity account I have(had) in the neighborhood of $50K through my NJA account alone.. Just this week I can only imagine how much I DIDN'T earn with the blackout period in effect.
 
Yup. You're exactly right.

I haven't dug in to check, but it wouldn't surprise me if we get nailed with short-term trading fees just to get out of the funds we were involuntarily "mapped" into. :mad:
 
CA1900 said:
Yup. You're exactly right.

I haven't dug in to check, but it wouldn't surprise me if we get nailed with short-term trading fees just to get out of the funds we were involuntarily "mapped" into. :mad:
Click to expand...

Yeah I haven't had the courage to see how much I could have made over the past 2 weeks.... I know during a normal Bull run I make a couple hundred dollars a day. With this latest Bull run I've had to have missed out on between $1-2K.
 
doylehargraves said:
Just curious, if the "disregard" put more money in your pockets, would you care then?
Click to expand...

You're damned right I would. They disregard this, then what else do they give us the finger to? Scope? Furloughing out of seniority? Canceling my familes medical insurance?
The potential for lost money is one thing. The erosion of a contractual agreement is the big fight here.
 
I hate thinking about the money I lost. That however, is NOTHING compared to the weakening of the CBA. Heck, for all I know Schwab might be a good thing for us financially. I care about our CONTRACT WHICH WAS BLATANTLY AND WILLFULLY VIOLATED.
 
Guys and Gals

get up and get to a computer near you and file this grievance. It only takes minutes.

We need to show solidarity! Thats what its all about!

There is much at stake now and in the coming years. Don't be caught with your pants down.
 
Protect YOUR money.
 
Very true. However, some pilots don't care about unity. ALL pilots care about money.
 
how many did the union get and why was there a deadline? This damage may be ongoing
 
No idea how many they have filed already. The deadline is because the contract requires a grievance to be filed "within thirty (30) days after the Union, on its own, or by and through any crewmember has, or reasonably would have had, knowledge of the matter giving rise to the grievance." 30 days ago was when we were locked out of making changes to our Fidelity accounts, our money vanished, and the "black-out period" began.
 
Rolled into the class action grievance.

Since we have been banished from the main msg board and you active folks might not hear about it, there's another issue with furloughees and vesting. It is possible that we should continue vesting while on furlough, rather than lose 25% of our money when we never get recalled. Contact your local eboard member for more info, and don't buy into it if they downplay it. It IS a big to those of us who have taken it in the shorts.
 
OPECJet said:
Rolled into the class action grievance.

Since we have been banished from the main msg board and you active folks might not hear about it, there's another issue with furloughees and vesting. It is possible that we should continue vesting while on furlough, rather than lose 25% of our money when we never get recalled. Contact your local eboard member for more info, and don't buy into it if they downplay it. It IS a big to those of us who have taken it in the shorts.
Click to expand...


Good point... However, I think that anyone still active will have 100% vesting already. Won't be an issue for them? Still important for us though.\!!
 

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