Here’s mine...
Hired at 43
Currently 48
High five (I’ve only completed five years: $130,000)
Annual Salary $175,000..QOL bidder with a kid in high school
Career increase rate
Retire at 60
Historical return rate
Existing plan $88K
VBP $84K (adjusted to ~$75K see below)
Max Stochastic $106K (adjusted to $95K see below)
Keep in mind, for me, the model uses an assumed credit hour per year of 1000. I average 850 so I have to further reduce the VBP Future Service Pension number by 15%. Assuming the CH reduction is linear, that would put my worst case VBP number at ~$75K. I fall well short of the existing A Plan.
I don’t know what to think of the stochastic numbers. Their explanation makes sense but without the assumptions behind them, I’m skeptical. That number for me (my QOL 85% CH adjustment applied to the Future Service Pension and all stochastic assumptions) is $95K. That means in the best case I improve by $7K per year...but hey, I get to work harder to get less than what I already have so there’s that. So much for my plan to get my high five and then downgrade so I don’t die at 68.
BLOB: I have $88K as is with our existing plan. The VBP will range for me from $75K-$95K if I continue to work as I have been. To get an equivalent amount I will have to work harder all the way to the end.
What about LTD? Mil leave?
The middle guys are the minority. All pilots will be made whole is what we were told by the guys that can’t even write bullet proof lie flat seat language. Fool me once...
We’re screwed.