*MINIMUM BALANCES* New Polling Needed
01-02-2020, 01:58 PM
#251
Gets Weekends Off
Joined APC: Nov 2018
Posts: 314
Because then you don't have to depend on a corporation or the government to fund your retirement.
Because the '80's, 90's and 2000's were littered with airline pensions that were taken away from airline employees. So it just made sense to.
Because it's something you should have been doing before you came to Delta.
Because it should be the first bill (to yourself) you pay every month during your entire working life. More here: https://dqydj.com/historical-ira-contribution-limit/
Because there have been so many retirement vehicles that you could have used.
Because IRA's existed since 1974, 401k's came to Delta later.
01-02-2020, 02:08 PM
#253
Gets Weekends Off
Joined APC: May 2008
Position: VEOP Retired! 7ER A was last position
Posts: 978
01-02-2020, 02:10 PM
#254
Gets Weekends Off
Joined APC: May 2008
Position: VEOP Retired! 7ER A was last position
Posts: 978
Because then you don't have to depend on a corporation or the government to fund your retirement.
Because the '80's, 90's and 2000's were littered with airline pensions that were taken away from airline employees. So it just made sense to.
Because it's something you should have been doing before you came to Delta.
Because it should be the first bill (to yourself) you pay every month during your entire working life. More here: https://dqydj.com/historical-ira-contribution-limit/
Because there have been so many retirement vehicles that you could have used.
Because IRA's existed since 1974, 401k's came to Delta later.
Because the '80's, 90's and 2000's were littered with airline pensions that were taken away from airline employees. So it just made sense to.
Because it's something you should have been doing before you came to Delta.
Because it should be the first bill (to yourself) you pay every month during your entire working life. More here: https://dqydj.com/historical-ira-contribution-limit/
Because there have been so many retirement vehicles that you could have used.
Because IRA's existed since 1974, 401k's came to Delta later.
01-02-2020, 02:23 PM
#255
Gets Weekends Off
Joined APC: Sep 2008
Position: Kickin’ Back
Posts: 6,971
I'd be ecstatic if I could receive my earned benefit instead of the PBGC.
Denny
01-02-2020, 02:24 PM
#256
Gets Weekends Off
Joined APC: May 2008
Position: VEOP Retired! 7ER A was last position
Posts: 978
I'm officially done with this thread, without malice or bad feelings. Everyone has made good points and I have listened and some have changed my mind somewhat. With full disclosure. I'm a Deadzoner, hired in 88 and have had a great career. Based on what I've seen on here, this pilot group will not support this plan, and I agree there are serious questions on whether the IRS or the company will go for it. I'm out, good luck to everyone
01-02-2020, 02:33 PM
#257
Gets Weekends Off
Joined APC: Sep 2014
Posts: 4,999
I'm officially done with this thread, without malice or bad feelings. Everyone has made good points and I have listened and some have changed my mind somewhat. With full disclosure. I'm a Deadzoner, hired in 88 and have had a great career. Based on what I've seen on here, this pilot group will not support this plan, and I agree there are serious questions on whether the IRS or the company will go for it. I'm out, good luck to everyone
01-02-2020, 02:45 PM
#258
Gets Weekends Off
Joined APC: Nov 2018
Posts: 314
That's correct. For most pilots the 401k Plan has the Company contributing 3% of earnings. Not a match. The pilot then chooses an additional percentage to have deducted from pre-tax dollars.
Pre-tax Fixed Defined Contribution = 16% of earnings paid every paycheck.
Company Total=19%
Pilot Contributes=10%
The totals are pretty good yes? There are other areas of the contract that I would like to see improvements. But that's for another thread.
Pre-tax Fixed Defined Contribution = 16% of earnings paid every paycheck.
Company Total=19%
Pilot Contributes=10%
The totals are pretty good yes? There are other areas of the contract that I would like to see improvements. But that's for another thread.
Last edited by AirbusPTC; 01-02-2020 at 02:58 PM.
01-02-2020, 02:45 PM
#259
Gets Weekends Off
Joined APC: Apr 2007
Posts: 4,637
A 231k payout for a pilot with an extra five years at the top of the pay scale is a helluva lot more money than a retired pilot who was kicked to the curb at 60 just two years after bankruptcy. What is your point?
Is your point that your "VICTIM STATUS" is a higher priority than other stakeholders?
If the point is to rectify the pension lost in bankruptcy, the pilots retiring in the next couple years are the wrong group to target. Ignoring that fact frames the "plus up" as a money grab for a select subset of the entire group that was harmed.
01-02-2020, 02:46 PM
#260
Gets Weekends Off
Joined APC: Jun 2009
Position: Captain
Posts: 830
To give you an honest answer I have to qualify it a bit. I will use myself as an example. I was a junior M88 captain when the pension was terminated. (A lot better than many DZer's). If I took my PBGC benefit at age 60 it is pretty much exactly half of my frozen earned benefit from the DB at age 60......$3900/month. And I think I'm in the upper half. Now, if I wait to take it at age 65 it goes up but still doesn't come any where near my earned benefit that was taken unless I wait to take it until age 70. I suspect BR's loss is worse than mine.
I'd be ecstatic if I could receive my earned benefit instead of the PBGC.
Denny
I'd be ecstatic if I could receive my earned benefit instead of the PBGC.
Denny
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