Originally Posted by
Guntrain11
For me, between the MPPP, DC monies and PBGC I've got more than what the frozen DB was going to pay if I retired at 60. As you pointed out I run the risk of running out of money if I live a long time, so I don't plan on doing that.
You're sounding more and more like those old NE guys.
You also run the risk of losing a lot of your DC money if the market tanks again, like it did in 2008. The DB was a 'sure thing' for about 50 years. That's why ALPA negotiated DB's in the first place, many years ago.
Have you read Flying the Line, Vol. 1? If not, you can borrow mine. Anyway, American Airlines' Pilots were in the original group of pilots to start the Union we know as ALPA. Many years later, they left ALPA. One of the key reasons they left ALPA was a disagreement over their retirement plans. They wanted the money put into Their Names.
Now, 60+ years later, we see they were right. American just went bankrupt too, but guess what? Their pilots were able to keep their retirement plans, even though their management said they HAD TO give them up for American to survive.
My friends who have been at American as long as I have been at Delta, have nearly $3 Million in their retirement plans. I've got about $450K. Yeah.