Airline Pilot Central Forums - View Single Post - Which airlines still have a pension?

04-22-2007 | 09:26 AM

#3

LabDad

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Joined: Apr 2007

Posts: 70

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I’m not with Continental, and so other folks will have the best detail.

That said, CO is a good example, because they have a frozen A plan(defined benefit), which gives a new hire nothing, and in spite of the originally "defined" benefit, only gives pilots with claims against the fund a fraction of what they were promised.

CO puts 10% of gross salary(defined contribution) into a managed fund, which is like buying shares in a mutual fund. You may lose share value, but at least it actually was once 100% funded. This 10% is not deducted from your pay.

You can invest in a company 401K retirement plan, and within limits, that investment is not taxed going into the 401K, but it does come out of your gross pay.

http://airlinepilotcentral.com/airlines/legacy/continental.html

401K:
yes
401k Matching:
none
A/B Fund:
2.20% (frozen)/10%
Other:
Profit sharing (stock options)

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