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Perhaps you might tell your wife, that this rule, when implemented, might actually help others, less fortunate than you, to be able to keep their only house.
No, what I tell my wife is, this rule is "designed to help those that counted on the airline pension as their only means of income after age 60." The geezers can fly till they drop as far as I'm concerned......just don't *^%$ will my chance to get out at 60.
Last edited by Daytripper : 02-02-2007 at 05:03 PM.
No, what I tell my wife is, this rule is "designed to help those that were stupid enough to count on the airline pension as their only means of income after age 60." The geezers can fly till they drop as far as I'm concerned......just don't *^%$ will my chance to get out at 60.
I figure the 65 thing will cost me conservatively $500,000.00. That's based on 5 years more as a co-pilot, saving 30,000 less a year for those 5 years, and not having the opportunity for that $150,000 to grow at 7-8% until I turn 60. The total of that money at age 60 would have been almost 800,000. As opposed to the 200,000 it would be while earning it from 60-65.
The airline has already stolen 80,000 from me in the last two years. May as well let the FAA/old farts get into my wallet.
??? I thought it would be more economical for the airlines if these High Seniority guys left due to their salaries?
Most contracts cap pay at 12 years. With a "normal" career most pilots will be on the highest hourly pay tier well before retirement. As far as costs go, potentially higher insurance rates, increased annual vacation time, and increased sick leave usage could be factors.
??? I thought it would be more economical for the airlines if these High Seniority guys left due to their salaries?
SAAB man. Most payscales top out at 12 years...some higher up to 18 years. After that point the CA isn't getting anymore $$. So it doesn't affect the company's bottom line if it's a 64 year old with > 12 years isin the left seat or a 55 year old. In fact there would be lower gtraining cost to keep the older pilot in the left seat of some big iron (or composites?) With DB plans all gone or frozen (exception AA) the airline is not paying any additional $$ in a 64 year old retirement or a 55 year old retirement. In fact it may be to the advatage of the airline in the 64 year old dies before retiring..no retirement bucks to payout! Medical cost for an older pilot? Most companies require the employee to pay a higher share of the insurance cost...so that would prob be a wash.....The only real losers here are the junior pilots unable to move up
yeah thats what I figured, oh man looks like im going to spend the next 39 years at Expressjet (if their still around). Not quite sure how to break the news to my girl
Most contracts cap pay at 12 years. With a "normal" career most pilots will be on the highest hourly pay tier well before retirement. As far as costs go, potentially higher insurance rates, increased annual vacation time, and increased sick leave usage could be factors.
Most captains are already on the 12 year scale, but not most FO's (well depends on the airline). But slowing the flow into the captain ranks will mean way more FO's will be at the top of the 12 year FO scale...so it does add up.
Most captains are already on the 12 year scale, but not most FO's (well depends on the airline). But slowing the flow into the captain ranks will mean way more FO's will be at the top of the 12 year FO scale...so it does add up.
Actually many here at AA are on 12 year pay already. heck I am going on 9 years and I am junior. Hopefully if 65 goes through, we can raise the FO chart to 18 years, and raise the percent of captain pay we get.
No, what I tell my wife is, this rule is "designed to help those that were stupid enough to count on the airline pension as their only means of income after age 60." The geezers can fly till they drop as far as I'm concerned......just don't *^%$ will my chance to get out at 60.
This "geezer", and many others like me put our careers on the line back in 1985, along with many other battles, to make the career of professional airline pilots better than when we arrived. I'm damn proud of what we did, even with whatever mistakes we actually made in the process.
Some of these guys that walked a picket line in 1985 retired within a short period of the strike - they had nothing to gain by striking except their honor and integrity. We worked to leave our profession in better shape than it was when we entered it or the way it was headed without strong and decisive actions.
Tell, Mr. Un-grateful, what have you done to better the piloting profession?
Guys like you make me sick and glad that I'm retired.
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The geezers can fly till they drop as far as I'm concerned......just don't *^%$ will my chance to get out at 60.
SAAB man. Most payscales top out at 12 years...some higher up to 18 years. After that point the CA isn't getting anymore $$. So it doesn't affect the company's bottom line if it's a 64 year old with > 12 years isin the left seat or a 55 year old. In fact there would be lower gtraining cost to keep the older pilot in the left seat of some big iron (or composites?) With DB plans all gone or frozen (exception AA) the airline is not paying any additional $$ in a 64 year old retirement or a 55 year old retirement. In fact it may be to the advatage of the airline in the 64 year old dies before retiring..no retirement bucks to payout! Medical cost for an older pilot? Most companies require the employee to pay a higher share of the insurance cost...so that would prob be a wash.....The only real losers here are the junior pilots unable to move up
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