Originally Posted by
ExDeltaPilot
I thought I'd add my .02 about retirement in general. My first six months with Delta I was on reserve when we were hiring like gangbusters (60/month) was on reserve and never got called - I had enough money, wasn't working and hated it. If a guy is physically capable, can pass the physical, and wants to keep working he should. I have flown with 50 something Captains that couldn't see over their bellies, fell asleep during cruise (every leg) and really had no business flying. On the other hand, I know some 60 and 70 year olds sharper than most of us. I don't ever plan to retire because that is the quickest way to dig your own grave. I would like the "option" to fly past 60 (I'm only 49) and when I get there be able to make the decision. Everyone here should have the same option and you can plan ahead.
Cogent argument. However, I got into this biz because I could get out with a retirement a full 7 years before my Social Security compatriots. I figured that my ability to go at 60 was a kind of payback for basically giving up any semblance of an actual, normal life. Now this thing rears its ugly head. I am confident that my company, one of the few with a defined benefit, will negotiate fiercely during our next go-around to reduce the multiplier. So my "choice" will turn into no choice at all. Stay until 65 (or 70, or whatever these guys come up with) or you won't collect a full retirement. Also the defined contribution can be reduced (maybe eliminated) since I will have to work 5 of the previously uncovered years toward a full Social Security benefit.
Safety aside, how am I better working for more years for the same (or possibly less) retirement money? I'm not naive enough to believe that FedEx will avoid the obvious financial windfall available to them during negotiations. Plus I can't, for the life of me, figure out why anyone wants to do this a minute longer than is currently regulated, but that's a personal thing.