Originally Posted by Alan Shore

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).



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.