Originally Posted by
Yak02
The industry is being forced into hiring older pilots that have less time to build a survivable retirement. ALPA needs to wake up to this and start doing the right thing for all there members ( they have never done that in the 59 years I have been eating from their contracts.) Look at reality, we need a mechanism to get as much retirement funs into accounts as early as possible. The way it is now it is backwards. I have hit the IRS limit in September, the rest goes in to my RHA VEBA account. I have over $65K in that account and have 5 more years to go until retirement. You can only use the RHA money for Health Care. Unless the government changes the way Health Insurance is used I will never run out of money in that account. Use the money or loose it.
I think it’s great to have that much in there. I’m on the other end in that I don’t have enough time left to build it up. General calculations show that upcoming retirees will spend near $300k on health. Since it is available to spouse whether you’re living or not, it increases greatly the likelihood that it will be used. Yup, the downside is that you both die early and lose it all.