View Single Post
Old 05-09-2008, 07:10 AM
  #40  
sailingfun
Gets Weekends Off
 
Joined APC: Feb 2008
Posts: 19,308
Default

Wasatch, You should put some numbers to your post. Keep in mind the note money was paid as a condition of the termination of the retirement plan. The money was scheduled to be paid in proportion to the loss each pilot had in the terminated retirment plan. When DALPA ran the numbers giving each pilot his fair share based on what they had in the plan the junior pilot got almost nothing from the note. That made sense since they had little in the retirement plan. Dalpa however decided to try and give them more of the pot and decided to plus every pilot up to a assummed 205,000 FAE regardless of what they really had and then reran the numbers. Still the junior pilots got very little so they added a years of service credit and ran the numbers again. That was the final method they used to distribute the money. The committee that decides how to distribute the money was composed of mostly junior pilots. None were in the top 2000. When all the numbers were run the junior pilots will end up with a higher retirement then the senior pilots based on the new 11% DC plan going forward. If there is any improvement in the DC plan then the junior pilots benefit even more.
sailingfun is offline