Originally Posted by Joel Payne
Just talked to a working Delta pilot last week. He is pretty down. He is 52, a senior captain on the B-777. His lump sum retirement is gone, his pension is shot and he is now making what he did as a new MD-88 captain. He doesn't think there are any pilots on the property over 55. Sad, sad. Send your kids to CEO school majoring in thievery.
The independent fiduciary for the Delta Pilots' Retirement Plan has just announced that preliminary figures now show a continuing liquidity shortfall until at least October. Since Delta is no longer making contributions to the plan, it's hard to imagine that lump sums will ever be paid again. I'm afraid that a lot of pilots have been trapped by false hopes.