Originally Posted by
Timbo
One thing did change, we don't HAVE a retirement anymore!
What we have now is a grossly underfunded (if you are in your 50's now) 401K "Savings Plan". It's not going to be nearly enough to retire on.
But hey look at the bright side, Delta is going to be buying back stock and paying shareholders a dividend with our ongoing One Billion per year pay cut and $5 Billion flushed DB retirement money, so we got that going for us!
Timbo you are a nice guy, but you are posting a lot of half truths on here. My DB plan was frozen at a value of about $1.1 million and I received about 310k from the silos and note. I am willing to guess you did better than that. we lost about 75 cents on the dollar from our frozen plan. My DC plan is worth over 450 k now and should be worth over 1 million easily 10 years from now. My PBGC benefit is worth $4800 per month upon retirement plus SS of about $2400 a month hardly qualifies me for the poor house. I am also a late 89 hire, so I am sure you made out better. I didn't include the value of my 401k either.