My guess on the retro( which some people seem to be miffed about) is pure conjecture, but....here goes

The Retro(more like a signing bonus) is on flight pay and flight pay advance and is not pensionable. Why?

Because it would open up a big can of worms to make it pensionable. Why?

Because, unless your intent is to not pay the 3 years worth of retired pilots and the VEOP pilots, my guess is, if included it would be a nightmare tax wise and for 401 due to earned income vice unearned income

By making it a signing bonus only on flight pay, my guess is that they can axe the VEOP guys out of their 50% pay to sit at home because its not flight pay.

So, in essence ......it's simple for ALPA, simple for the company, simple for the retired recipients and provides a little more pie( a small sliver) to share for those still on the payroll.

Again, pure conjecture and I am totally ignorant of IRS rules, tax rules and for that matter company coding of VEOP pay.......so this could all be pure malarkey.

I'm sure the NN will clear it up