Originally Posted by
BobZ
One wonders if our cba is gonna join the food fight.
Whats laughable is delta extracted a condition that the pbgc would not hand the pilots pension back to delta if the company survived and prospered. Which in light of our economic performance is likely what the pbgc would have done.
I don’t think the PBGC would have handed it back. They protected themselves well by taking a share of ownership in Delta. Taking over the Delta pilot pension plan earned the PBGC a profit not loss which is the reason many Delta pilots will enjoy a very high PBGC payout. When the plan was frozen each pilot received a accounting for what their earned and accrued benefit was at that point. In my case using the projected PBGC payment at 65 combined with the MPP and note money produces a net benefit well above my frozen plan. Using the age 60 PBGC number still produces at least parity. My frozen benefit was 106,000 per year. I would not trade what I have for my frozen plan under any circumstances.