Originally Posted by
slowplay
Denny, there is no question that the change to the D&S survivor benefit was a bankruptcy concession. I'm not saying it's "raining", but that it "rained." The deal we have now is not financially better than the previous D&S promise as long as that promise continues to pay. With the benefit of experience I don't want to go back to an unfunded promise to pay, as I've seen that promise broken. IF we could get a survivor annuity or some form of retiree insurance funded by Delta that's in our own name, then I might be interested. But just because the D&S Trust was unfunded in the 90's and currently has money is no guarantee that there will be money there when my survivors need it.
I don't think I'm crying wolf, but ymmv.
I don't think you are either. After the pension debacle I understand completely where you are coming from as far as having the benefit in your own name but I'm not ready to completely give up on JL's proposal just yet.
Is the D&S plan protected by ERSIA? If it is, I would think the company would have a hard time getting rid of it outside of bankruptcy and even inside of bankruptcy if the plan is close to being self funding. I know this would be a hard if not impossible question to answer but how close is the plan to being self funding? I know it all depends on the investment return but I would be curious how it has performed in the last few years and what it's expenses each year have been. Before I make a decision about what I'd like, I'd want to see the actual numbers of potential future survivors receiving benefits that you alluded to in a previous post.
Thanks for the civil discussion.
Denny