Originally Posted by
Denny Crane
T,
The PERP program for the pre-72 guys was in the 90's. It was supposed to be for 500 guys but the company let more than that take it. I believe it was something like 578 but am not sure. They did not hang around in the PRP program and get any money. I flew a couple of retirement trips with these guys.
The PRP (post-retirement pilot) program was a result of the exodus of guys prior to bankruptcy.
Denny's right about the pre-72 retirees. That was in the mid-nineties and the incentive included credit for years of service and/or age to bring them closer to age 60 retirement benies. The pre-72 hires did have a better retirement plan which included a larger lump sum as I remember. That plan had been "grandfathered" in the PWA to that point.
The PRPs were in 2004/2005 and their incentive was drawing retirement pay and flying pay both, but that only lasted until the company tossed out the retirement plan in BK in September of '05.
Originally Posted by
tsquare
Yeah I didn't remember all the particulars... I'm pretty sure that there were some of them that signed on to the program early, but didn't leave for quite awhile.... or at least it seemed that way... If I'm wrong it wouldn't be the first time... Anyway, thanks for the edification. I still wouldn't want to go down that road unless there was some sort of iron clad way to get them out the door.. and wordsmiths always can find a way around any contract language... it's what they do.
Originally Posted by
sailingfun
The average PRP pilot got to stay for about 6 extra weeks. The exception were check airman some of whom were able to stay up to 9 months. About half the pilots were selected for the program. The other half went out at their dates and could not come back.
I understand your concern T but remember that we all will retire someday. The benefit of a PERP to a select group becomes exagerated as time passes, but we all forget that we moved up when they retired. Neither of us wants the pilot group (at the time) to take away some benefit that we are counting on in retirement. We have to live with that for the rest of our lives. The company took away from all of us in BK. Let's see if we can restore retirement benefits for everyone going forward.
