67 is dead,
02-17-2024, 05:17 AM
#281
seeing the large hubs...
Joined APC: Oct 2006
Position: 73N A
Posts: 3,761
Every Delta pilot should be a bit agnostic on the issue. Most just get emotional and don't think it through. Yes it will cost a years movement give or take a month or two. On the positive side every pilot would have a choice of two options and a Third possibility with no choice.
1. Work tell 67. (Significant retirement boost)
2. Retire early
3. Forced out medically (50% plus of our pilots) and receive two additional years of disability pay plus medical coverage.
If you laid out the above to a financial guy he would likely tell you that you would be a fool not to support 67 regardless of your current seniority or date of hire. Before all the posts start about how your all retiring at 50 you won't! For the few that might go early 67 makes early out program offers more financially viable to the company and thus more likely to be offered.
I don't support 67 but only beciause I feel from a medical and cognitive standard 65 is right. From a career standard 67 would probably benefit most pilots more than hurt.
1. Work tell 67. (Significant retirement boost)
2. Retire early
3. Forced out medically (50% plus of our pilots) and receive two additional years of disability pay plus medical coverage.
If you laid out the above to a financial guy he would likely tell you that you would be a fool not to support 67 regardless of your current seniority or date of hire. Before all the posts start about how your all retiring at 50 you won't! For the few that might go early 67 makes early out program offers more financially viable to the company and thus more likely to be offered.
I don't support 67 but only beciause I feel from a medical and cognitive standard 65 is right. From a career standard 67 would probably benefit most pilots more than hurt.
Of course a finanical guy is going to say work longer, make more money (that he can probably invest and make more money from it).
02-17-2024, 05:44 AM
#282
Banned
Joined APC: Jan 2008
Position: Pilot
Posts: 2,625
so the bipartisan senate bill that accommodated every republican objective wasnt declared “dead on arrival” by johnson?
Apologies, This post along with the other boomer political fantasies should be deleted, but i had to make sure reality makes its presence known.
its all theater folks, left/right, all theater. Turn off your fear porn
https://www.reuters.com/world/us/us-...id-2024-02-04/
Apologies, This post along with the other boomer political fantasies should be deleted, but i had to make sure reality makes its presence known.
its all theater folks, left/right, all theater. Turn off your fear porn
https://www.reuters.com/world/us/us-...id-2024-02-04/
02-17-2024, 06:06 AM
#284
Gets Weekends Off
Joined APC: Feb 2020
Posts: 800
so the bipartisan senate bill that accommodated every republican objective wasnt declared “dead on arrival” by johnson?
Apologies, This post along with the other boomer political fantasies should be deleted, but i had to make sure reality makes its presence known.
its all theater folks, left/right, all theater. Turn off your fear porn
https://www.reuters.com/world/us/us-...id-2024-02-04/
Apologies, This post along with the other boomer political fantasies should be deleted, but i had to make sure reality makes its presence known.
its all theater folks, left/right, all theater. Turn off your fear porn
https://www.reuters.com/world/us/us-...id-2024-02-04/
A5S
02-17-2024, 06:41 AM
#285
Moderator
Joined APC: Sep 2011
Posts: 4,971
so the bipartisan senate bill that accommodated every republican objective wasnt declared “dead on arrival” by johnson?
Apologies, This post along with the other boomer political fantasies should be deleted, but i had to make sure reality makes its presence known.
its all theater folks, left/right, all theater. Turn off your fear porn
https://www.reuters.com/world/us/us-...id-2024-02-04/
Apologies, This post along with the other boomer political fantasies should be deleted, but i had to make sure reality makes its presence known.
its all theater folks, left/right, all theater. Turn off your fear porn
https://www.reuters.com/world/us/us-...id-2024-02-04/
02-17-2024, 08:04 AM
#286
Line Holder
Joined APC: Sep 2023
Posts: 29
Every Delta pilot should be a bit agnostic on the issue. Most just get emotional and don't think it through. Yes it will cost a years movement give or take a month or two. On the positive side every pilot would have a choice of two options and a Third possibility with no choice.
1. Work tell 67. (Significant retirement boost)
2. Retire early
3. Forced out medically (50% plus of our pilots) and receive two additional years of disability pay plus medical coverage.
If you laid out the above to a financial guy he would likely tell you that you would be a fool not to support 67 regardless of your current seniority or date of hire. Before all the posts start about how your all retiring at 50 you won't! For the few that might go early 67 makes early out program offers more financially viable to the company and thus more likely to be offered.
I don't support 67 but only beciause I feel from a medical and cognitive standard 65 is right. From a career standard 67 would probably benefit most pilots more than hurt.
1. Work tell 67. (Significant retirement boost)
2. Retire early
3. Forced out medically (50% plus of our pilots) and receive two additional years of disability pay plus medical coverage.
If you laid out the above to a financial guy he would likely tell you that you would be a fool not to support 67 regardless of your current seniority or date of hire. Before all the posts start about how your all retiring at 50 you won't! For the few that might go early 67 makes early out program offers more financially viable to the company and thus more likely to be offered.
I don't support 67 but only beciause I feel from a medical and cognitive standard 65 is right. From a career standard 67 would probably benefit most pilots more than hurt.
The real cost to that new hire becomes apparent when factoring in the time value of money. Just like in a 401k, money invested (or in this case earned) earlier in a career is worth exponentially more at retirement than money invested (earned) at the end. When accounting for this in a career earnings calculator, the result is that anyone not in the final seat of their career has to work a certain amount of time for free to make up for the career earning loss until you get far enough down the seniority list to those younger and junior enough to where they cannot make up the loss at all.
02-17-2024, 08:18 AM
#287
Line Holder
Joined APC: Feb 2023
Posts: 72
A financial guy would only tell you that if he didn’t understand finance. Consider the expected seat progression of a young new hire, for example. Today, he may expect to be a narrowbody FO for year one (making somewhere around $120/hr) and perhaps a narrowbody CA in year two (making around $340/hr). If age 67 delays his progression for close to two years, as you mentioned in your post, that pilot loses around $300,000 of expected career earnings during that delay. Every delayed seat movement in that new hire’s expected career (such as narrowbody CA to widebody CA) will produce a similar gap.
The real cost to that new hire becomes apparent when factoring in the time value of money. Just like in a 401k, money invested (or in this case earned) earlier in a career is worth exponentially more at retirement than money invested (earned) at the end. When accounting for this in a career earnings calculator, the result is that anyone not in the final seat of their career has to work a certain amount of time for free to make up for the career earning loss until you get far enough down the seniority list to those younger and junior enough to where they cannot make up the loss at all.
The real cost to that new hire becomes apparent when factoring in the time value of money. Just like in a 401k, money invested (or in this case earned) earlier in a career is worth exponentially more at retirement than money invested (earned) at the end. When accounting for this in a career earnings calculator, the result is that anyone not in the final seat of their career has to work a certain amount of time for free to make up for the career earning loss until you get far enough down the seniority list to those younger and junior enough to where they cannot make up the loss at all.
02-17-2024, 10:01 AM
#288
Gets Weekends Off
Joined APC: Feb 2018
Posts: 427
I’ve heard arguments about being a 757 Captain at 27 and how great life is for them.
For now.
What challenges are around the corner?
02-17-2024, 11:38 AM
#289
Gets Weekends Off
Joined APC: Jan 2014
Posts: 2,034
I'm not going to get mired down into political back and forth, but since you say you want reality to make its precense known... I think his point was that it did not have "everything Republicans wanted in it". The so-called "bipartisan" senate bill did very little to actually stem the flow, and thus address the very real problem. For example, it still let in 5,000 people enter illegally per day.
02-17-2024, 12:58 PM
#290
Gets Weekends Off
Joined APC: Sep 2016
Posts: 6,831
Thread
Thread Starter
Forum
Replies
Last Post
