Originally Posted by
Check Essential
I don't know about this injection.. This one sounds like another "sailingfun fact".
Delta filed for bankruptcy in Sept 2005.
Age 65 went into effect in Dec 2007.
A little over two years.
So he's saying that 1700 Delta pilots were aged 58 or over in 2005 ?
I don't think so.
The retirement exodus started in 2002. Each big drop in interest rates would bring a slug of retirements. The vast majority of pilots who went early were 56 and up. Most of the retirements fell in the 2002 to 2004 range. I believe the plan was officially put into distress in June of 05. That stopped all lump sums. The actual numbers were put out during the seniority list process as it was a issue. I don't have them now but the vast majority would have turned 60 before the change. That is the reason it was not factored in by the arbitrator in the SLI.
The actual numbers were also posted on the old board many times.