robbedagain
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- Oct 13, 2003
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no need to worry as we know what he will say.. he'll say its false data
IAM Stepping Up campaign
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yoyodyne
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How's that pension for the US fleet coming???700UW said:
yoyodyne
Veteran
No, but I do have a sweet 401k....700UW said:
Kev3188
Veteran
DB's & DC's are both great. The nice thing UA employees currently enjoy over us is that they have a say in which retirement vehicle they prefer.
Yoyo-- I agree that our 401k is "sweet," but what happens if one day they decide to make unilateral changes to it? What say do you & I have?
Yoyo-- I agree that our 401k is "sweet," but what happens if one day they decide to make unilateral changes to it? What say do you & I have?
WorldTraveler
Corn Field
- Dec 5, 2003
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Kev3188 said:
The money is completely under your control, Kevin. The company cannot take it back. You are free to manage it as you wish.
With a DB plan, you have no control over how the company manages the retirement plan and they usually manage it fairly cautiously based on macroeconomic factors.
I personally receive far higher returns on my IRAs and personal retirement accounts than any DB plan get. I wouldn't be surprised if you have achieved some healthy returns as well.
You bear some risk but you also have a whole lot of upside.
If there is one thing the central banks learned in 2001 and then again in 2008 is the power a falling stock market has to destroy an economy - and if it is the US, European, or Japanese economy, the chances are pretty high that the global economy will take a big hit.
I'm not saying there can never be a serious meltdown on the stock market but so much of the economy is tied to the stock market and the economy is the number one issue in elections in any democratic country that most central banks work very, very hard to keep the stock and bond markets stable - and generally do a pretty good job.
related to the IAM, it appears that UA succeeded at announcing yet another round of station outsourcing, offset perhaps by UA mainline taking back above wing work at DEN.
Kev3188
Veteran
Yeah, I know. I've said as much about a gazillion times on here.WorldTraveler said:
Guess I should've been clearer: What happens if the company decides to unilaterally change things one can't control, like future contribution and/or matching amounts, plan options, etc.?
eolesen
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- Jul 23, 2003
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Yeah, not really true... you're #6 on the all-time post count, out of a couple hundred who've remained active over the past decade.WorldTraveler said:
http://www.airlineforums.com/members/?sort_key=posts&sort_order=desc&max_results=50
Just guessing (because it's not worth the time and energy to calculate it), but looking at the first 5 pages of post counts, I'd put the mid-range somewhere between 2000 and 4000 posts.
robbedagain
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- Oct 13, 2003
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kev does DL contribute to your 401k at all? when I was EN (piedmont) the company put 3% and you put 2% plus the company would match w 1% its been a few yrs since so im not sure if they still have it but that's from my memory.
Kev3188
Veteran
They contribute 2%, and will further match another 5% dollar-for-dollar after that...
It is still your money, the company costs it out in negotiations. The only difference is the company is the one who puts the money in the envelope. A 401(K) while subject to the day to day movements in the capital markets will not be terminated like DB pensions have.700UW said:
(edited by moderator)
Josh
WorldTraveler
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Kev3188 said:
sorry...
you do realize that even defined contribution plan also has clauses about the company's ability to unilaterally change it so it isn't really any different
nothing in life is guaranteed except, well, you know
Kev3188 said:
which even 7% with employee contributions is at the high end of what airlines contribute.
Glenn Quagmire
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- Apr 30, 2012
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Are you saying a company can unilaterally change a CBA negotiated pension outside of bankruptcy?WorldTraveler said:
blue collar
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Off the subject, but do you intentionally use 'your' and 'you're' backwards? Just something I've noticed, and I'm far from being a grammar nazi.700UW said:
As far as it being your own money, yes it is. However, the amount of money the company is contributing to my 401k will equate to a lot more than what the pension will pay me. I also have complete control of that money, and much less stringent guidelines for getting that money when I retire.
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