Question for the saavy Fedex pilots on this new contract:
What's up with this VEBA charge? I see the recent union note that barely even mentioned it. Kind of convenient that this was skipped on any of the roadshows or electronic briefs about the new contract. The way it looks to me is that for an average 1000 CH year each pilot will contribute about $500 to this fund. My annual insurance premiums today for a family of 4 are a total of $1080 so this $500 is pretty significant. Now this money seems to go to current retirees and to set up a fund for future retirees. In reality there seems to be zero protection for future retirees and I suspect that this fund will go mostly to the current and very near future retirees and probably amount to nothing for the under 50 crowd.
I'd like to hear what others think - sorry for posting this here but I have no account on Airline Pilot Central.
What's up with this VEBA charge? I see the recent union note that barely even mentioned it. Kind of convenient that this was skipped on any of the roadshows or electronic briefs about the new contract. The way it looks to me is that for an average 1000 CH year each pilot will contribute about $500 to this fund. My annual insurance premiums today for a family of 4 are a total of $1080 so this $500 is pretty significant. Now this money seems to go to current retirees and to set up a fund for future retirees. In reality there seems to be zero protection for future retirees and I suspect that this fund will go mostly to the current and very near future retirees and probably amount to nothing for the under 50 crowd.
I'd like to hear what others think - sorry for posting this here but I have no account on Airline Pilot Central.