Originally Posted by
crewdawg
badflaps, if you were hired in that window, can you tell us what you guys had back then? I've been told you guys had a 401k type plan before, then later were received pensions because the company thought it was a better option. Is this true?
Up untill 1972 the pension plan was controlled by the pilots, A&B plans. Monthly payroll ded. Solvent and fat. Vested after 5 years. 1972 changed all that. Company took over the plan, basically to finance the N/E merge, buy 727s. 1992 brought the lump. You could opt in or out. A lot of opting in. The Co. did not keep up, the rest, as they say is history.