Originally Posted by
BobZ
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.
I am not sure how you had a 140,000 earned and accrued payout. Given your still working now and your age in 2004 that would have required a FAE of about 400,000. Possible but not easy to do back then unless you had a massive amount of green slips.
As far as the claim I did not mention it. The note was negotiated and directly tied to the pension. In fact the 650 million dollar note was only payable if the pension plan was terminated. Had the plan survived there was no note payment.
Your age 60 payout is about 13,000 a year more than mine. Your age 65 payout is exactly the same. Not sure why that is. Your 65 payment should be higher based on the FAE and your age 60 amount. I would ask the PBGC for a accounting. For perspective I have a friend who was hired one year earlier than me at NWA. His frozen benefit is 84,000 a year. He was a 757 CA at the time.