Originally Posted by
DeadHead
The point I was moreorless trying to make is that I believe contract negotiations are about realistic leverage as opposed to equal amounts of give and take.
Agreed. In down times, it's more give than take (although often not enough to satisfy the company), and in up times it's more take than give (although often not enough to satisfy the pilots).
Originally Posted by
DeadHead
How was the $2.1 billion distributed? I'm assuming this was small payout to each pilot after the pension fund was liquidated. Is that accurate?
It was paid out after Delta emerged from BK, which was after the pension was terminated. About 2/3 of the amount was coming in any case, while the other 1/3 was the result of that termination. The size of each pilot's payout was determined by a formula that considered a number of factors, including a pilot's seniority, his pay rate, his age, his status as active or inactive, etc.
Being fairly junior at the time, my pay out filled up my 415(c) for several years with the remaining cash putting me well into AMT.
