Originally Posted by
The Juice
The LTD proposal is a joke as well. The buy up is only available with a 15% pilot group participation, so might as well consider that to be not an option to buy up.
So you are left with $5,000 a month from the company until social security benefits. What is $5,000 a month going to do today to support a family? How about in 20, 30 years? This is taxable so basically you will be living on 2nd year FO pay, hope you have a second career picked out.
If you are a CA, making $200k a year, a $5,000 a month LTD is the same as a 30% monthly payout on your salary. How many feel that 30% will take care of your family's needs for the next 30 years?
Not sure I agree with this. 1st, a 15% participation requirement seems low. Especially after reading about the stuff here. Everyone agrees it's important and needed. This leads me to think we'd have more that 80% sign up.
2nd, if we pay for the fees the benefit is tax free. If it's company paid then it's generally not. The statement was vague so it's unclear how it would be structured. The idea of having "own occupation" to 65 is a big plus.
Like they say the devil is in the details. The rest of this offer is embarrassing tho.