Originally Posted by Timbo

I have heard this buyout term thrown around once in a while, but what "buyout" are you refering to? Something at CAL?

There was never a buyout at DAL, not this last time and not back in 1996, but the company did let 505 guys retire early (in 1996) with "as if you were age 60" benefits.

When the guys left DAL just before bankruptcy, they basically got -half- of what they had earned in their Defined Benefit retirements. There was a "50% Lump Sum" option to the DB plan. Not more, just half, and certainly no "buyout" from the company! They never got the other half. There is a group of them trying to sue the PBGC to get some of the other half.

Of course the guys who stayed didn't even get the half.