Originally Posted by
MaydayMark
I've NEVER understood the logic of this thought process, especially for the pilot that has completed their 25 years and maxed out their retirement (actually, after doing the math, I'm not sure it makes any sense even if you don't have your 25 years).
So ... I suppose (on paper at least) it could appear to the "bean counters" that they are getting the very most experienced pilots at a real bargain basement price (even if they do drool on themselves and wear diapers?). I suppose the real test will be if the company loses any revenue from the ND's going sick in the field, or worse, sick in flight and having to divert.
Personal note ... I think it's sad (maybe pathetic) that these guys don't have anything better to do with their lives after they've earned the very best retirement package in the industry these day. I have some suggestions for them: volunteer at your church or at a local school (GIVE SOMETHING BACK TO SOCIETY), get a hobby (do you like to golf, hunt or fish?), coach a kids sporting team, volunteer to the Civil Air Patrol (you could continue to fly and even wear your Captain uniform to the local general aviation airport, the young kids learning to fly will be very impressed and treat you like an aviation god!)
. Or ... do ANYTHING you like to do; travel, spend time with the family, grandkids, build an airplane in your garage, restore an old car or house ..........
Go ahead JETJOK ... flame away
Don't always assume that Age equals seniority.
I don't have the real stats but I am willing to bet that 65% of the over 60 crowd doesn't have 25 years longevity. Many of the over 60 guys are Junior to me and I ain't real senior. Getting an additional 2% a year adds up when you don't have 25 years or 50%.
As far as the company offering Buy outs: in my humble opinion, they will only do so if it saves them money. Like you said, if a guy stays working and is a fairly reliable employee, that is 75 to130K in pension money the company doesn't have to pay (and 1 less year they will have to pay one). On the other hand if that Older person is calling in sick a lot and using every minute of his vacation wisely or goes on Long term disability, well that is a different story. I suspect the Company is taking a wait and see becasue they really don't know the answer either.
If you are talking about soley about the few that have already maxed out their retirement, I would agree with you, except if you are real Senior, they are making 260K plus vice the 130 K on their pension and they still don't have to work much. Plus they are padding their B fund a 401 for another 35K each year.