Originally Posted by
PassportPlump
If you’re one of the guys approaching 65 years old, you have had the opportunity to add an additional 5 years at the top of our pay scales to your bank accounts. You’ve made an additional $250,000+ in 401k contributions alone over that additional 5 years. In today’s environment you’ve also made an additional $150,000 over the same time period in profit sharing alone. That’s $400,000 NOT INCLUDING YOUR SALARY!
The pension is gone. A thing of the past. Our 16% DC may not be there as Denny said for the next 25+ years either if the economy takes a turn. What Delta pilot is hurting retirement wise at this time? Even with the math above + what you have saved in the past should be plenty. Sell your boat.
I get where you are coming from and generally agree with you. I find many Senior Pilot claims of future pauperism hard to take, but comments like "sell your boat" just diminish your credibility.
I also agree with much of what is bolded above but you left out some background information. Lets revisit profit sharing. When DAL Pilots took onerous pay and work rule cuts we were given our current PS system - in case DAL was to become profitable again it would automatically kick in with a little $$$. Well guess what? DAL become profitable beyond managements wildest dreams and we now have the most lucrative PS in the industry. A PS payout that all DAL Pilots enjoy, not just those Pilots who made the sacrifices.
So for all the guys who were not on the property during the times of these sacrifices, be sure to thank the Pilots, including the "deadzoners," who made the sacrifices that enabled our current PS program.
In other words the whole topic is much more complicated and nuanced then many acknowledge. Foolish comments like "sell your boat" are just as bad as the senior guys saying they are willing to sell Scope for a DB. Neither comments help the Pilots at all.
We can either come together as a group - to the benefit of all Pilots or we can be divisive to the benefit of management.
Scoop