Land grabs are not meaningful things. You've never had a defined benefit plan. You've only had a defined contribution plan. By that mere fact, you don't get or have access to the PBGC. If you want equality for the 401k, by all means, you deserve that. Beyond that, you deserve nothing. You simply haven't been here long enough. Has nothing to do with Los, relative pos., DOH..........you simply have not been here long enough.........end of story
Okay, after hearing all opinions, my take is that the resolution in it's current form was a bad idea.
The obvious reason is it excludes those who have the PBGC benefit.
However, there is something of value in this resolution, if it were expanded to include everybody.
Let's say we try to get direct contributions to everyone, including PBCG recipients. Those near retirement would get their benefit and some supplement, those with time to go would get a larger direct contribution to build their accounts.
Now about the above post...two things..you have to define two words...here and long??
What do you mean by have not been here long enough..by here do you mean post merger LCC? Cuase everybody has been "here" the same amount of time. If you mean at one of the pre-merger companies, well here is the facts, approximately 1100 west pilot were hired prior to 1998, the PBGC cutoff year, and around 700 are pre-AWA bankruptcy 1990 or earlier hires. That means 700 West pilots have over 22 years, the government and most pensions pay after 20.
It is the same old problem. You east entitlement attitude a-holes look at the West as an inferior entity. Bottom line is AWA was a better place to be in the 2000-2005 time frame, and although the east fails to grasp that, Nicolau did not. I actually think the cutoff is around 1996 that AWA passed USair as a better place of employment, a full decade prior to NIC.
