Originally Posted by Profane Kahuna
But how many people with the promise of a $100,000+ a year pension would be doing that?
Given that both UPS (12%) and FDX (9%) have defined contribution plans in addition to their DB pensions, and all have watched the legacies lose their DB pensions in 1113 proceedings over the last 17 years, I’d hazard to say virtually all.
Of course bankruptcy laws have changed since the legacies had their pensions taken...
I don’t know the statistics on that, but I do see a lot of old airline pilots working as simulator instructors, etc after age 65. They all seemed to be legacy guys who lost a pension in bankruptcy.
Are they working post-65 because of need (divorces, expensive lifestyle, bad investments) or just “something to do”? Prob a mix of both...