Originally Posted by
mempurpleflyer
But we better think twice before we voluntarily freeze one of the best (if not the best) benefits we have.
The plan is frozen. No matter how much you made last year, the previous 5, or the next 25, you will never (as things currently stand) get more than 130K. No inflationary increase (COLA) nothing. We would have to have deflation to "win" under our current plan, very, very unlikely. Most WB captains are making around 300K if they are not pushing themselves for more. That means today, without any changes and incomes based on current rates, a pilot retiring now getting at best 43.3% of his final earnings from the A plan, and thats if he is getting 130K and making only 300K. Most likely, said pilot is getting a smaller percentage than that.
I have flown with many pilots who just wanted their pension in the B plan, totally under their control, in their name and not subject to loss such as was seen by our legacy brethren not so long ago. As things stand, they are getting their wish. The question is...if we don't find some other vehicle to supplement the B plan/401K funds, will 8% now and 9% in a couple years be equivalent to retirements at UPS, UAL, DAL and SWA?