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?
The quick and dirty:
If a pilot gives 12 months notice, his bonus shall be the lesser of:
a. 50% of the pilot’s eligible earnings in excess of $520,000 (in his last 24 calendar months as a pilot);or
b. 50% of the pilot’s closing DSA bank balance, multiplied by his last hourly rate, or
c. $110,000.
All pilots, including career FOs, have the same defined benefit plan.