Originally Posted by
orvil
Timbo's claim was less because he was younger. There was an age component to the silos. Timbo and I were punished because we were younger.
There were guys in my training class that received three times more than I did because they were older. We were punished because a time value of money assumption was integrated into the silos.
It was age discrimination and it did not factor exposure to market risk into the equation.
This is part of the angst of the deadzoner. Lots of time vested in the retirement plan and a smaller payout due to age.
You're correct there was a age component. I was also hired young and took a big hit however I believe the earnings number used was 8 percent per year to make the age adjustment. I have done much better then 8 percent. I have had several so called experts run my numbers. At age 60 I should have about 80 cents on the dollar compared to the original retirement plan and it's all in my name. Some pilots who invested better then me are claiming they will be better off. I just gave the money to financial engines.