Originally Posted by
Check Essential
Why are the pilots who still have the full defined benefit plan staying beyond age 60?
Is it a medical coverage problem?
Their pay rates as a senior captain might be pretty good but by giving up the retirement benefits they could be receiving, they are essentially working for a fraction of that pay rate.
Is it really worth the few dollars a month extra to work full time?
Help me understand the reasoning. I think if it were me, I'd be out fishing instead of working.
I have a friend who is a 85 hire at NW. His retirement package is about 80,000 a year from the DB plan. His currently averages 270 k a year plus the DC plan. Total over 300k. He would be very surprised to find out he is working for a fraction of his pay.