Originally Posted by
sailingfun
Much of what was required to restore the funding was provided via the various pots of money and the PBGC. You would have to run a spreadsheet for each pilot and add the MPP plan, note cash and PBGC money to determine what each pilot actually lost from the frozen plan. In my case It looks like at age 60 I will have lost about 25% give or take a bit. If I add in the claim money it gets better however officially that cash was to help offset the pay cuts so I don't include it. Many pilots are saying they have been made whole. I did not make the best investment choices so am down.
I can't understand how anyone was 'made whole', unless they were very junior at the time and had very little vested in their DB plan.
I know the 6 guys in my new hire class who left just prior to bankruptcy to protect 50% of their DB money got around $700,000 each, depending on which equipment they were on, FAE, and all of that.
If 50% of their DB was $700K, 10 years ago, then 100% was 1.4Million, 10 years ago. Now, take that $1.4M, add in 10 more years of growth, and what would it be today?
The guys at American with that much time in service have roughly $3Million today in their retirement plans. I'll never have anywhere near that with 15% contributions from the company!