Company Can only afford 3% into your 401k

[Dont call me Shirley]

 
 
But at least the scope language is pretty good.

Compared to, say, UAL's it is very good.  The importance of Scope cannot be overstated.  And extra dollar or two an hour, or extra vacation week, won't matter if the jobs are outsourced.
 
That said, 3 percent is very low indeed.

 

[usa1]

Even our worst scenario is more than your 3%.
I see lots of negotiating or bickering down the road for years to come.
We will never be an all one company. There will still be me and you and us and them and so on and so on........

 
Our pension was not frozen in bankruptcy like yours, it was terminated. Yours is currently under funded, and we will have to help fund it .... with nothing in return.  

 

[jimntx]

Well, at least you didn't come up with some Communist solution like, the executives get their stock and bonus payouts only after the frozen pensions have been fully funded. (I expect that our "frozen" pensions will be terminated before the day of reckoning on the underfunding arrives.)

 

[jcw]

to be clear you would be hard pressed to find anyone with more than 6% contribution - actually it's very common for up to a 3% match - for those with more than 3% it's a great plan - for those with 3% you are on par with the majority of individuals in the USA

 

[Dont call me Shirley]

http://beginnersinvest.about.com/b/2010/09/04/the-most-generous-401k-benefit-ive-ever-seen.htm
 
On top of the pay, Trader Joe's annually contributes 15.4% of employees' gross income to tax-deferred retirement accounts.
 
15% at Trader Joe's.  Plus employee discount on wine!

 

[jcw]

great you found a place that charges premium prices and can give some of the profits to its employees
 
what amazes me are folks don't understand that airline prices continue to be depressed and the DOJ likes to keep it that way - if the airlines could charge alot more they would have huge profits
 
So let's get this - let's drive the airline back into bankrupcy - that seems like a good plan
 
Before you start going on how much more the company should be contributing - how do you think the public will start paying more for airtravel

 

[blue collar]

Trader joes, premium prices? Don't know what you're buying there, but all of the things I buy there are comparable - if not cheaper - than the other stores. They have especially cheap alcohol.

 

[usa1]

A 50 year old at US Airways use to get 10%, plus a fifty cent on the dollar match up to 4%. That's what it takes to replace a defined pension with a 401K. Thank goodness I have been in a position to sacrifice way more than that from my take home the past few years. I bet 90% of us were not able to do that for one reason or another. After all we haven't had a raise 22 years. At the same time the cost of living has gone up, up, up.
 
Social Security cost of living increases are handed out very conservatively. Start with 1991 on the chart, our last raise, to see just how many raises you have missed. 
 
http://www.ssa.gov/oact/cola/colaseries.html

 

[Dont call me Shirley]

. After all we haven't had a raise 22 years. At the same time the cost of living has gone up, up, up.
 
 
http://www.ssa.gov/oact/cola/colaseries.html

 22 years ago?  Isn't that  about when the company last paid a Christmas bonus?  
 
(Other than cookies or cheese)