Originally Posted by
BMEP100
That's what I had heard, but it kinda stinks. (over)Paying into the plan all those years and not being able to take it into early retirement makes sense only to an insurance company exec.
After all, it is disability insurance, not loss of job insurance. Since LTD only pays about 33% of a captain's salary, having the ability to take the lump sum to help supplement would good.
What difference could it make to the plan if the pilot were retired from the company before 65 or not?
It's based on you working. Question for you - if you retired at 60, 5 years early and then you become unable to pass a class 1 medical at 62, what pay rate should be used to determine the LTD rate.