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Old 11-18-2009 | 02:36 PM
  #18259  
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acl65pilot
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From: A-320A
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Originally Posted by Pineapple Guy
I'll let slow take a breather. He's got real work to do. A longer payout may or may not have saved the pension, because of the lump sum feature. Furthermore, a longer payout wasn't a legally permissible option until Congressional legislation approved it, and our plan was terminated before it could take advantage of that. And there wasn't a thing ALPA could have done to prevent that.

BTW, the DAL pilot DB set the record as far as I know for the lowest funded plan on record, the ONLY plan that I'm aware of that went into liquidity shortfall because the fund balance was dropping so fast, and one of the largest plans to EVER fail. To say that ALPA gave it away is complete BS.

Now, back to your regularly schedule ALPA bashing....
And it had to be done right then and there. I know it was underfunded and it was so because of all of the guys taking the lump option.

My simple point was that there were options that we could have looked at. Personally, I much prefer a DC than a DB. I would not wish the retirement issues many are having on anyone.