FedEx and Pilots reach TA !!!!

[Purpledog]

I prefer to have most of my money available to me ( or my heirs) rather than lose most of it by keeling over two days after retirement after flying night freight for so many years.

Amen. Finally some sense on here. Also with money in hand, much easier to retire early so you don't die right after retirement.

 

[Laughing_Jakal]

14% B-Fund

I heard the company offered a 14% B-Fund but it was traded for mandatory benefits for (Gay) domestic partners....

Hell, if we are going to rumour monger....then it might as well be inflammatory!

The company likes the A-fund because they have done a study of the box lunch remnants and find everyone eats the pecan pie and cheese cake. Most of the grapes and fruit are thrown away. I think they think the A-Fund will save them in the end....banking on the increased rates of night flying and colon cancer.

 

[VaB]

Hell, if we are going to rumour monger....then it might as well be inflammatory!

Rumor mongering?!? What else have you heard?

 

[PurpleTail]

I'm just wondering where "pay for the delay" comes into play. If our pay raises are pretty much in line with our table position and our four cornerstone issues were "effectively addressed", great...but unless there is some serious retro pay I would say the company won. Hopefully the TA will prove otherwise.

My thoughts exactly.

I know compensation was our '5th priority' but I was kind of hoping for something a little better than a 1% increase in contributions and 9% raise. Two and a half years after the fact that is essentially a 3% raise each year which, IMO, isn't that much of a 'gain' than what was expected at a minimum.

If rig goes to 3.75 and medical does NOT go up than their were some gains in that regard and some QOL improvements. But, by no means, did we hit a homerun as far as a 'raise' is concerned. FWIW, lets hope the TA says more.

 

[Gearup727]

From what I understand the B-Fund is only there because we are required to retire at age 60 vs 65. Who says the B-Fund dosen't go away when and if this age 65 comes into being. I know the over 60 guys get a letter from FedEx straight away once they go over 60 they cut off the B-Fund. Next you really don't own the money in the B-Fund. It is stuck in the lame selection of Vanuguard Funds some underachiever at FedEx thinks is adequte for your retirement planning. If the market takes a big sh t there goes your B-Fund. I like to see us negeotiate a plan where the pilots A-Fund is placed in an acount that is seperate from the company. Once the money goes in it can't flow back to the company if hard times come.
Just my 2cents worth.

 

[Aviator7576]

B plan

Gearup...

Can the fedex guys make their own fund/stock decisions with the b plan? Our base fund selection is Fidelity but we can opt to go with the brokerage link and play experts ourselves. And why is it cut off at 60? Is it contractual?

Wondering,

Aviator7576

 

[Gearup727]

FedEx dosen't have brokerage option. All we have is around a dozen standard type funds. S&P index, agressive, international, bond, ect.

 

[Aviator7576]

B plan

Gearup..

And the age 60 cutoff?

Aviator7576

 

[Gearup727]

Correct me if I'm wrong but the only reason the B-Fund came into existence in the airline industry was because pilots have to retire at age 60. I guess at the time age 65 was the normal retirement age. They were not able to acrue retirement for those 5 years like other professions. So the IRS allowed pilots companies to create and contribute to the B-Funds. If pilots are allowed to go to age 65 I could see the rational for the B-Fund not being allowed by the IRS. I'm not tring to hijack the thread but this back and forth on the B-Fund may become a mute point when the age 65 goes into effect.

 

[Laughing_Jakal]

rig change

If the rig changed to 3.75, then that = a 6.67% increase on trips that are paid by rig.