Thats not a bonus, its your pension.silverbird007 said:Does Delta give their employees a 9.9% bonus(if your over 50) EVERY month for the next 5 years? I don't believe so. I'll take my 9.9% bonus over PS any day! Just a little something the APFA got for us!
I lost half of what I would have received eight years from now. In the next eight years I would have accrued nearly as much as I accrued the first 28 years.
Granted you guys did a lot better job than the TWU where we only got a 5.5% match (meaning I have to give up access to 5.5% of my pay now to get it) but you have to factor in that you lost your Defined Benefit pension. The senior workers over 50 lost the most because they were finally on the pension escallator where benefits accrue much more rapidly than they do for younger less senior workers. Laura did a good job recognizing the loss and having the agreement make up for some of it. NYer and his buddies didn't even come close with the TWU .
AA timed dumping the pension perfectly, they saved money by not having to actively fund a 401K from 2003 to 2012, got the Unions to support deferring payment to the DB plan back in 2006 (saving them even more money-a big chunk of NYers debt figure is from the pension obligations) then just as the average age (of mechanics) hit mid 50s and 20 years of seniority, they dumped it and went with a 401K match with zero company contribution, just a paltry 5.5% match.