*MINIMUM BALANCES* New Polling Needed
01-02-2020, 07:15 AM
#212
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Joined APC: Oct 2017
Posts: 200
There are not enough details on how it will work for everyone to get in a tizzy over this. First off, it is not legal per IRS rules as we proposed it. Secondly, we have no information if this lump sum would effect the PBGC payments that the DZ’s will receive.
Do we really want guys leaving without enough money to survive? The problem I see is the calculation, what value do we put the PBGC, note, shares of stock that were received during bankruptcy? Each individual’s scenario is different. I do not know the answer, but we all need to figure out a median we can all swallow because the proposal is out there.
Do we really want guys leaving without enough money to survive? The problem I see is the calculation, what value do we put the PBGC, note, shares of stock that were received during bankruptcy? Each individual’s scenario is different. I do not know the answer, but we all need to figure out a median we can all swallow because the proposal is out there.
01-02-2020, 07:15 AM
#213
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Joined APC: May 2015
Position: A350 Both
Posts: 7,292
Projecting out the dollar amount a new-hire is going to receive over their careers is as accurate as the ALPA seniority list projection we received as new-hires, or as accurate as the all Boeing "fleet rationalization projection" Leo Mullin published in 1998! Divisive silliness. No one knows the future, except this, it won't be all rainbows and lollipops over the course of a career. It is impossible to project out what a career WILL be worth with any real accuracy. Who knows what "black swan" event, SARS epidemic, bird flu, swine flu, hot war, , cold war, trade war, oil embargo, terrorist attack etc etc will wipe out an airline or two in the next decade...let alone the next thirty year career time frame.
01-02-2020, 07:18 AM
#214
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Joined APC: May 2015
Position: A350 Both
Posts: 7,292
Neither is the - **** you old men too bad for you give me more money - attitude I am reading here.
01-02-2020, 07:19 AM
#215
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Joined APC: Jul 2008
Posts: 5,028
Do you not understand that to address all demographics as equally as possible, the guys near retirement need some sort of lump sum as an increased DC will not impact their retirement enough? Or do you NOT WANT EVERYONE on the list to get improved retirement monies???? I think that is the central issue in this debate. Are people okay with the guys near retirement only getting the increased DC for months and not MANY YEARS.....
We all understand a money grab when we see one. You guys are trying to justify why you are entitled to a money grab. We don't care. It's still a money grab.
01-02-2020, 07:20 AM
#216
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Joined APC: Sep 2008
Position: Kickin’ Back
Posts: 6,971
Denny
01-02-2020, 07:21 AM
#217
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Joined APC: May 2015
Position: A350 Both
Posts: 7,292
I perfectly understand time value of money. I get it. Some of our pilots are almost out of time. We'll all he there sometime. That doesn't mean you should get targeted. You guys got a windfall with the age raising to 65. The guys ahead of you didn't get to come back. That's life. Tough ****. Enjoy our current PWA until retirement.
We all understand a money grab when we see one. You guys are trying to justify why you are entitled to a money grab. We don't care. It's still a money grab.
We all understand a money grab when we see one. You guys are trying to justify why you are entitled to a money grab. We don't care. It's still a money grab.
Karma is a ***** young man.
01-02-2020, 07:21 AM
#218
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Joined APC: May 2015
Position: A350 Both
Posts: 7,292
Apparently they don't get the correlation.
01-02-2020, 07:25 AM
#219
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Joined APC: Dec 2007
Position: DAL 330
Posts: 6,998
There are not enough details on how it will work for everyone to get in a tizzy over this. First off, it is not legal per IRS rules as we proposed it. Secondly, we have no information if this lump sum would effect the PBGC payments that the DZ’s will receive.
Do we really want guys leaving without enough money to survive? The problem I see is the calculation, what value do we put the PBGC, note, shares of stock that were received during bankruptcy? Each individual’s scenario is different. I do not know the answer, but we all need to figure out a median we can all swallow because the proposal is out there.
Do we really want guys leaving without enough money to survive? The problem I see is the calculation, what value do we put the PBGC, note, shares of stock that were received during bankruptcy? Each individual’s scenario is different. I do not know the answer, but we all need to figure out a median we can all swallow because the proposal is out there.
Good post. Both points of view on this issue make valid points:
DZ POV: We did indeed get screwed and now that DAL is making record profits our retirement should be addressed.
Younger guy POV: It has been almost 15 years since the pension was cancelled, you had plenty of time to prepare for it financially.
As posted above we need a lot more details on the proposed plan. My biggest issue with this whole debate is that it is a very small portion of the whole section 6 and it appears to be driving a wedge between the Pilot group. Maybe since it is the only section with any details it’s impact is being magnified. As a 56 YO NB Captain I am far more interested in other portions of the contract.
Full disclosure: I have a MIL reserve retirement that starts paying at 60.
Scoop
01-02-2020, 07:26 AM
#220
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Joined APC: Sep 2008
Position: Kickin’ Back
Posts: 6,971
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