Originally Posted by
sailingfun
I can tell you that those PBGC numbers are pure BS. I probably am in the top 5% if not top 1% for PBGC money for pilots still working. I would have received 4400 a month until SS offset and then it drops to 4200 if taken at Age 60. PBGC payments go up 11% per year delayed. At age 65 my number is 7000 to 7200. Given his claimed 6800 at 60 his 65 number would be around 11,450.00. That would have required a FAE in 2003 of around $500,000.00 and at least 18 years of service but probably more.
There is no MPP contract value. That’s completely fictional. All pilots were cashed out for the value of the account. Amounts ranged from 80,000 to about 115,000 at the top. I seriously screwed up and put mine in a annuity that I started drawing in Oct. Pays about 1000 a month.
The stock money you mention I assume is the stock claim the union sold. 141,000 is well below what he should have received. A more likely number is 350,000 if not higher so nothing posted makes sense. The claim was sold for 2.1 billion.
Half of our pilots were hired since 2014 and honestly have no idea what any of this means. There’s a good chance they don’t care. Many of them were playing little league or in preschool on 9/11. Many hadn’t started flying or even driving when bankruptcy and the merger happened.
What binds us all is our current contract, current work rules, and current pay rates. Hopefully the MEC and NC stays focused on issues that affect the masses and don’t get too bogged down on fringe or special interests.