401K Grievances at NetJets

[FLYLOW22]

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.

 

[rajflyboy]

Its all on the boards (Perfect template to cut and paste)

piece of cake even for a dumb bastard like me

 

[HiSpeedFlyer]

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.

 

[shroomwell]

I don't get the big deal with changing fund managers.

 

[HiSpeedFlyer]

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.

 

[CA1900]

I don't get the big deal with changing fund managers.

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.

 

[rajflyboy]

I don't get the big deal with changing fund managers.

dude

I got a video for ya

http://www.youtube.com/watch?v=wyx6JDQCslE

 

[BentOver]

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.

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.

 

[fischman]

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.

 

[jtf]

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.

 

[doylehargraves]

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.

Just curious, if the "disregard" put more money in your pockets, would you care then?

 

[CA1900]

If it put more money in our pockets, they wouldn't be attempting to do it this way.

 

[BentOver]

If it put more money in our pockets, they wouldn't be attempting to do it this way.

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.

 

[CA1900]

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.

 

[BentOver]

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.

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.