FEDEX pension
06-29-2010, 09:46 PM
#4
Beverage Consultant
Joined APC: Nov 2005
Position: Bartender & cabana boy
Posts: 167
06-30-2010, 05:13 AM
#7
Gets Weekends Off
Joined APC: Sep 2006
Position: Retired
Posts: 3,717
Myoface,
There really is no one answer to your question because there are so many variables involved. However, that said, assuming a 20 year wide body captain is eligible for retirement, and actually retires, his retirement pay will be calculated by taking the average of his high 5 years of earnings, multiplied by (roughly) 2% for each of his 20 years.
But there are many variables that could come into play. As an example, if the guy worked in some other capacity, such as a flex instructor, his high 5 could be significantly higher than a normal line pilot. As well, if he did a lot of drafting or volunteering, his pay could have been higher. Guys who live in domicile have always had an advantage, when it came to working extra, because they were readily available to fill open trips at the last moment, and of course, this would boost their pay. Also if someone lives in domicile, they are more likely to bid the next higher paying seat earlier than their counterpart, who doesn't live in base, because sitting reserve at home is really not that bad a deal, as opposed to living in a crashpad.
So there you have it. I hope this sort of answers your question.
JJ
There really is no one answer to your question because there are so many variables involved. However, that said, assuming a 20 year wide body captain is eligible for retirement, and actually retires, his retirement pay will be calculated by taking the average of his high 5 years of earnings, multiplied by (roughly) 2% for each of his 20 years.
But there are many variables that could come into play. As an example, if the guy worked in some other capacity, such as a flex instructor, his high 5 could be significantly higher than a normal line pilot. As well, if he did a lot of drafting or volunteering, his pay could have been higher. Guys who live in domicile have always had an advantage, when it came to working extra, because they were readily available to fill open trips at the last moment, and of course, this would boost their pay. Also if someone lives in domicile, they are more likely to bid the next higher paying seat earlier than their counterpart, who doesn't live in base, because sitting reserve at home is really not that bad a deal, as opposed to living in a crashpad.
So there you have it. I hope this sort of answers your question.
JJ
06-30-2010, 06:04 AM
#9
Gets Weekends Off
Joined APC: Sep 2006
Position: B-777 Captain
Posts: 943
One other factor that has not been mentioned is Fedex's max output for retirement. Yes you take the average of your high 5 divide by 2 and may or may not add the multiplier. However the max $$$ Fedex pays out is $130K. This is a Fedex limitation and not an IRS limitation. So if you have several years that are really boomers that boost your average way up the final calculations will be no more than what was mentioned above. This may change with a new contract but that is my understanding of it. Correct me if I'm wrong. 5 years to go and counting............
06-30-2010, 06:15 AM
#10
Gets Weekends Off
Joined APC: Aug 2006
Position: 1559
Posts: 1,535
The A plan limit for 20 years of service would work out to $104,000, assuming, as JJ pointed out, that the pilot was able to max out his high 5.
B plan is up to the individuals decisions that they have made over the years.
B plan is up to the individuals decisions that they have made over the years.
Thread
Thread Starter
Forum
Replies
Last Post
