Not quite that black and white. When I was in the financial industry we got PS. It was tailored so we could decide cash money or slide it into retirement accounts. We had to choose early before we knew the amount but we got to choose.

It’s the way it’s set up is my opinion but I haven’t dug into the details nor will I most likely ever do that but my point is it can be set up to comply with IRS rules and interpretations and still give individual rights. I’m sure back when they flew the -200s it was a top shelf program but the world has moved on.