*MINIMUM BALANCES* New Polling Needed
01-02-2020, 02:53 PM
#261
Gets Weekends Off
Joined APC: Nov 2018
Posts: 314
Are you asking this as a serious question? The pensions have been gone for a decade and a half. If you haven't been serious about your retirement since then you sure as heck shouldn't expect me to take less to make up for your lack of preparation. This argument is our version of a redistribution of wealth, so good luck getting the growing number of young pilots to help you out because you didn't prepare.
01-02-2020, 02:54 PM
#262
Gets Weekends Off
Joined APC: Sep 2008
Position: Kickin’ Back
Posts: 6,971
A six figure salary for the last two decades is a helluva lot more money than a pilot not on the seniority list was paid. What is your point?
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.
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.
Denny
01-02-2020, 03:04 PM
#263
Gets Weekends Off
Joined APC: Sep 2008
Position: Kickin’ Back
Posts: 6,971
Don't forget the post-bk period has happened during the GREATEST BULL MARKET in history. There have been "catch-up" contribution plans, health savings account plans, an excellent 401K plan, not to mention post-tax dollar investments that should have been made to replace the pension. Not to mention the BK Claim note and PBGC.
https://www.macrotrends.net/1319/dow...storical-chart
Denny
01-02-2020, 03:06 PM
#264
Gets Weekends Off
Joined APC: May 2012
Posts: 1,418
There is also no COLA.
01-02-2020, 03:07 PM
#265
Gets Weekends Off
Joined APC: Sep 2008
Position: Kickin’ Back
Posts: 6,971
Denny
01-02-2020, 03:15 PM
#267
Gets Weekends Off
Joined APC: Sep 2008
Position: Kickin’ Back
Posts: 6,971
You did't answer my comment. In a previous post today I said my apples to apples comparison of taking my PBGC at 60 compared to the frozen DB I had already earned is exactly half at $3900/month.
What makes you think I haven't already started taking it?? If I have my age 65 amount is irrelevant.
I gotta ask what your motivation is here? Scratch that, knowing who you are, and having read your previous postings on this and other forums answers my question.
Denny
What makes you think I haven't already started taking it?? If I have my age 65 amount is irrelevant.
I gotta ask what your motivation is here? Scratch that, knowing who you are, and having read your previous postings on this and other forums answers my question.
Denny
01-02-2020, 03:20 PM
#268
Gets Weekends Off
Joined APC: May 2008
Position: VEOP Retired! 7ER A was last position
Posts: 978
Absolutely, but I flew big mouth Block 30s in the Guard, right before the big changes after 9/11 Sadl, epluers radio, goggles etc. A real (mostly) Day VFR sports car!
01-02-2020, 03:23 PM
#269
Gets Weekends Off
Joined APC: Apr 2007
Posts: 4,637
Here's a dose of reality. Alpa negotiates for ACTIVE pilots on the seniority list. I wish that were different but it is reality. Bringing up already retired pilots is a diversion from the discussion. I have stated many times I would be for anything that could be done for them but the reality of the situation is that it's not gonna happen. So, IMO, bringing the retired pilot argument into the discussion is a straw man argument.
Denny
Denny
As it stands the emotional side of the proposal is to help those who lost their pensions by delaying the depletion of retirement savings. The financial side of the proposal is a six figure kick in the pants on the way out the door for those who had the most time to plan for the new reality. I understand the emotional appeal, but the financial implementation does not match the argument.
01-02-2020, 03:27 PM
#270
Gets Weekends Off
Joined APC: Jun 2009
Position: Captain
Posts: 830
You did't answer my comment. In a previous post today I said my apples to apples comparison of taking my PBGC at 60 compared to the frozen DB I had already earned is exactly half at $3900/month.
What makes you think I haven't already started taking it?? If I have my age 65 amount is irrelevant.
I gotta ask what your motivation is here? Scratch that, knowing who you are, and having read your previous postings on this and other forums answers my question.
Denny
What makes you think I haven't already started taking it?? If I have my age 65 amount is irrelevant.
I gotta ask what your motivation is here? Scratch that, knowing who you are, and having read your previous postings on this and other forums answers my question.
Denny
It is relevant if we are basing the TVM of all the younger pilots on 60 instead of 65. The new plan for that matter is based on getting a pilot from 65 to 70 because it is assumed that would allow the pilot defer these income sources.
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