Originally Posted by
jetlaggy
Anyone care to expand on the Advance Notice of Planned Retirement bonus? How does that work?
And career F/Os are mentioned. Are there a considerable amount at Fedex? And are you saying they still get the same pension as a captain?
I'm not too well versed on the Advance Notice thing, since I still have a bit to go, but I'm sure someone will be along with more specifics. Basically if you tell FedEx early enough (12 months?) that you're going to retire, there's a sizeable chunk of money that comes your way. It was all for planning. You could conceivably tell FedEx you're retiring last minute and just do it, with no notice. FedEx didn't like that for planning purposes, so they incentivized early notification.
I don't know how many career FOs we have, but they do exist, for many reasons. Yes, FOs and Captains earn the same retirement, as long as they both have made over $260,000 for 5 years during their career (and have the same years-of-service). The formula is 2% * YOS (25 max) * "High 5 earnings" ($260,000 max). So a Captain or FO with 25 years of service and H5 of 260k = $130,000/year.