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Age 60 Compromises Age 60 Compromises
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Age 65 Rule Dec 13, 2007: Age 60 is now 65

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Old 02-20-2007, 10:44 PM   #1 (permalink)
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Default Age 60 Compromises
Okay, I know this is a very emotional topic for all of us either way. I'll be upfront and say I am not for it. That being said, it is going to happen and we need to come up with a plan of action for future contracts. I will throw out a couple ideas and see what everyone else thinks.

1. Place in contract that those who choose to retire at 60 are not penalized (like you are now for going out before 60).

2. Make anyone over 60 move back to F/O but keep pay rate and seniority. (Doesn't delay upgrades to Capt)

Obviously there will be lots of tax issues on this one, but the only way we can deal with that is writing the guys in DC.

So what are your ideas?
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Old 02-20-2007, 10:56 PM   #2 (permalink)
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Well, for the first idea, I don't think the penalties are gong to come strictly from the Company. I think the most severe penalties will come from the fact that the IRS will eventually decide that our B funds are no longer a sacred cow. Therefore, they will be taxed just like any other investment plan. I would like to see the Contract language in future contracts honor the age 60 retirement age.

On the second plan, if the FAA says that an over 60 guy can fly the Left seat I think we'd be hard pressed to get anything like that in the contract. Just my cent and a half
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Old 02-21-2007, 05:12 AM   #3 (permalink)
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Originally Posted by angry tanker View Post
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1. Place in contract that those who choose to retire at 60 are not penalized (like you are now for going out before 60).

2. Make anyone over 60 move back to F/O but keep pay rate and seniority. (Doesn't delay upgrades to Capt)

So what are your ideas?
I love both of your ideas, but there is no way the company is going to want to pay two guys a Captain rate when only one is sitting in the seat...
Additionally, there are going to be those guys that are going to complain that they still want to run the show and they are being age-discriminated against...
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Old 02-21-2007, 06:08 AM   #4 (permalink)
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Originally Posted by fecav8r View Post
Well, for the first idea, I don't think the penalties are gong to come strictly from the Company. I think the most severe penalties will come from the fact that the IRS will eventually decide that our B funds are no longer a sacred cow. Therefore, they will be taxed just like any other investment plan. I would like to see the Contract language in future contracts honor the age 60 retirement age.

On the second plan, if the FAA says that an over 60 guy can fly the Left seat I think we'd be hard pressed to get anything like that in the contract. Just my cent and a half
We are not the only people with DC plans. I believe the "normal" retirement age is now 67 so we are still going to be required to retire prior to the "normal" age. That being said, if there are issues with the "B Plan" we'll just make it a 401K company match up to 7% of your income....



Sounds good to me!

Past....
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Old 02-22-2007, 06:08 AM   #5 (permalink)
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There will be plenty of time to adjust to any change. This is the U.S. government.
http://www.faa.gov/news/updates/age_...e_60_rule_faq/
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