Originally Posted by
JoePatroni
For a brief time there was a website showing you your A plan earnings in relation to a PBGC payout if that hypothetically happened. That site was taken down in less than a week when the R&I Chairman, and others, realized that for the vast majority of pilots it was close to a wash and not the "threat" they needed to pass a concessionary contract to save the A plan.
The fact that he was a full term striker doesn't make him any less guilty of the deceit they used to save "their" A plan at any cost.
They didn't "save" the A plan. They cut some smaller artieries to allow a slow death. It was not a wash for the Chairman and many in his seniority. As for the annuity payments, it didn't become a wash until you got into the ~ 30% first officer seniority. The lump sum grew because of falling interest rates. However, as part of a budget reconciliation in Obama's second term that allowed for another new funding calculation, the plan was so severely underfunded as to be labeled "at risk" by the IRS.