Originally Posted by
sailingfun
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.
Thats an odd calculation. I dont view the note and claim as offsets for lost pension value. I dont think they were ever advertised as such.
My view was they were to offset wage and work rule concessions.
My age 60 earned db annuitized payout was abt $140k. My pbgc age 60 payout was abt $65k. At age 65 its supposed to be $85k.
Its not even close.
Nevermind we go to work every trip to produce revenue that since bankruptcy has funded all the other employee pension plans to the tune of billions of dollars.
Our ceo's self righteous protests white washing deltas history are clear indication of the distain and disregard he has for the pilot group.
He got over on this pilot group. Bigtime. He almost did it again with the moronic PS trade of TA1.
Stop making excuses for a ceo that the day after bankruptcy filing had the court terminate the annuitized pension payments to retired pilots......simply because he could.
Completely despicable.