290kts

If a FDX pilot is 60 or over and has 25 years where would they stand on a 48 hr BLG versus retirement check? Seems like these 2 would be really close??

Jetjok

Agreed, and if it actually gets that bad, for a number of months, with no reprieve in sight, you might see some of the over-60 crowd leave. But, I'd not hold my breath if I were you, because talk is cheap, and things might not be as bad as we're being told. Only time will tell, but in the meantime, continue to save your money and review your alternatives. Good advice anytime, but especially now. And Happy New Year to all.

JJ

nosoup4u

Instead of reshuffling everyone to the bottom, reshuffle to the top. 1000 Captains per aircraft. 48/60 for all Widebody Captains....72/90 for everyone else. Until their is a financial incentive to leave.....they aren't going anywhere.

Of course this will never happen, but it would be fun to watch :-).

AerisArmis

Might be but who cares? Logic carries no weight with that crowd. Met a friend a couple nights back. 66 year old DC-10 S/O, retired O-6.........talked about his 727 S/O training in a few months. I said, "you're really going to do that"? He said, "why not"?.........Reminds me of Bill Engvold...."Here's your sign".

SuperMario

WOW!! Now that's just sad

FDX1

Not only that but good luck getting their high 5 now. Looks like an age 60 retirement may have been the best bet.

RedeyeAV8r

Assuming many of these guys were Capt's, they might already have a decent high 5 but granted in the near term future I doubt anyone is going to be able to raise their personal High 5.
Since many of those guys don't have 25 years longevity,
they still get an extra 2% per year in their A plan formula for every extra year they continue to work. and they also continue to receive a 7% B plan contribution (and addtional 13-16k per year) as well full medical benefits. For many it is still worth sticking around.

For the pilots who already have everything maxed out, you might have a point. Is a 48-56 monthly BLG check that much more than a potential retirement check?
Certainly I wish more pilots would elect to voluntarily leave as I would personally benefit but I don't and can't blame them for staying on.

FedElta

To all 60+25 fence-sitters:

I was fortunate enough to have over 25 when I left at 60. I just ran the public school math, and I believe my retirement pay exceeds a 48/60 Widebody Cap pay.

The equation looks a little better when you delete the monthly payments to Alpa and ssan.

I chose the early ssan option, and no dependent annuity, so that improves the picture a bit. Remember, that is for just continuing to breathe, not move the freight at various times, in various conditions.

Not trying to sound like a D___k......I drive an old truck, one house, a bunch of kids, no sailboat, condo, etc. Food for thought......

Regards,
bg

Jetjok

I was under the impression that $260K is currently the max that someone could use when going into the retirement calculations. Is that correct?, because if it is, then a 25 year retirement would look something like this: $260,000 x .50 = $130,000 / 12 = 10,833 per month. I hear that the $260K may be going up, but am not sure how much, or when.

Anyway, if you're a 25 year captain and they institute the 48/60 BLG, your paycheck will look something like this: (assuming the final year of the current contract; wide body; captain) $263 (hourly rate) * (4 week bid month) 48 = $12,624, or 263 * 60 = $15,780. Then subtract all the normal deductions and ALPA dues, and there you have it.

So you can see that continuing to work will yield a few extra grand a month. Is it worth it? Only the person doing it can say. We really can't speak for someone else, as their reasons for staying might be different than our idea of their reasons for staying.

Question for FedElta: didn't you leave FedEx and get hired at Delta? If so, why on earth did you elect to take the early ssan option, what with driving an old truck, one house, no sailboat or condo, etc? Isn't your maxed out FedEx retirement, not degraded for a dependent annuity, and your Delta salary enough to live on? Just wondering.

JJ

FedElta

JJ,
Obviously my post annoyed you, but that was not my intent.....so let's see if I can address your points:

I thought a wide body cap rate was $238, not $263...I guess the APC tables are incorrect.

I took early ssan, because I want something back before it goes belly-up.

My wife and I skipped the annuity for her and took out an equivalent life insurance policy on me, and saved a chunk. Also, if she died first, the surviving family members would have a reduced annuity permanently, with nothing paid to her after my death.

Your comp on Fedex retirement pay is a bit low....My 2007 annuity was $157.8....with the elections I have described.

You are correct, I can live nicely on my EARNED FedEx annuity. The reasons I have continued to work (at a different carrier) are my own, and what I do with that short-lived income are only my family's concern.

I am not part of the issue at FedEx, and my only reason for posting was to encourage some folks to look at and consider the actual economics of their available choices. The realities are a bit better than I anticipated, pre-retirement.

Sorry I ruffled your feathers,
Bill