Originally Posted by
Stan446
Wow, wrong on so many items. If you die before retiring, your spouse gets nothing. 401K has no vesting. Do you have any clue on what our benefits are? A pension is guarenteed via the PBGC. Read for God's sake.
Survior benefit is picked when you RETIRE dimwit. You don't have a choice ever to pick the survivor benefit options on your pension until you retire. I'm shocked at your stupidity on the pension, 401K and survivor benefits.
I’m not sure why I’m bothering with an obvious troll. I will be blocking you but my response will be to those who might actually believe what you’re saying.
According to the Pilot Benefit Book, a pilot is immediately vested in the PRSP, our 401k. This means the money is yours immediately. Unlike the pension that you have to wait at least 5 years.
You are correct that you select your survivor benefit options once you’re retiring. However, if you die BEFORE retirement, your spouse is eligible for 50% of your accrued pension. Again this is explained in the PBB.
Some of our pension is protected by the PBGC. But to say it is guaranteed is misleading, as that implies the full amount. As I’ve shown, at age 60, only $55,440 is guaranteed by the PBGC. That is far less than the $130k pension we have now.
A 401k is portable immediately, if you die before retirement (or after that matter), your family gets all the funds not something less like a pension. And if the company goes bankrupt with a distress termination of the pension, you still get all the funds in your 401k.