Originally Posted by
fr8av8r
Also, the math is incomplete on example #1 . The "word problem" say "50% of the eligible earnings... " The example stops short of completing the "50%" part of the equation. 50% of $175,552 is $87,776. So the retiring pilot in the example will get the lesser of50% of his/her DSA ($98,098 in the example), or 50% of the "eligible earnings" ($87,776).
Attention to detail is really overrated, especially when it comes to contract language.
If you look closely, you'll see the math example begins with a pay computation for 2 years:
Pay: $286,000 x 1000 CH x 2 =
That means the pay rate is $286,000 per CH, right?
Is it too late to change my vote to YES?
Also, the Section Highlights shows this benefit as
"Company SLB of up to $110,000 at retirement."
They could have used $1,000,000 instead of $110,000 as long as it's computed as the "lesser of". With a maxed out DSA account and a $286/CH pay rate, it cannot be more than $98,098.
But since there is a $110,000 limit, increased pay rates will result in an erosion of this benefit. An eligible pilot in DOS+4 will see a reduction in the benefit to only 49% of his DSA, and a pilot retiring a year later would only receive 48%.
I never cease to be amazed by their pettiness.
(And it's sad that I couldn't trust the math on the given example, but had to break out my own calculator.)
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