Originally Posted by Pineapple Guy

Carl, it's not a 3% "penalty". That may be how the math is calculated (I don't really know how your plan works), but its really just a stretching out of the payments.

For example, pilot "A" retires at 60 and gets $100,000 per year for 25 years (on average).

Pilot "B" retires at 55 and gets $85,000 but he gets it for 30 years.

Same pot of money, just being drawn over a longer period. That seems fair to me.

PG