Atlas Air Hiring
#9922
On Reserve
Joined APC: Nov 2010
Posts: 13
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Exactly! Why in the world would you rather turn your retirement over to someone else when it can be in an account with your name on it? Hopefully the pilot group is smarter than that.
#9924
#9925
Line Holder
Joined APC: Sep 2014
Position: Inside your house
Posts: 28
#9927
Gets Weekends Off
Joined APC: Apr 2009
Position: What day is it?
Posts: 963
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If you did, you'd understand how locked down they are on finances and how they have no attachment or access to the retirement plans. In other words, they have no plans to run. Members can vote to join outside, independently run, professionally managed plans. Or you can vote to have a 401 (k). You vote, you decide.
401(k)'s are great until the market hiccups or collapses. A defined plan takes the money, invests it and then when you retire, takes it and buys an annuity in your name and controlled by you that pays a nice dividend monthly, never touching your principal.
Further, given the vesting schedule, it allows you to retire earlier, if you choose, with a full retirement.
A 401 (k) is a nice add on, but not something I'd bet my long term retirement on.
Last edited by ATCsaidDoWhat; 12-10-2014 at 07:17 AM.
#9929
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How about one more voice in this retirement debate. IMHO I would rather have double digit deposit into my 401K every two weeks as long as it isn't a match. Let me put it in the funds or brokerage of my choice and let it ride. It takes sacrifice on your part to fully fund said 401K, but its portability really appeals to me.
As for pensions, I get that they aren't all created equal and I don't want to debate specific plans and whether its solvent or not. This is what I don't like about them... If the power brokers in DC are willing to reduce the earned retirements of military vets for short term budgetary gains as they were last year, and then only yielded after significant lobbying efforts... who's to say they wouldn't be willing to slip something into a bill to "help" those organizations who manage other pensions... even union pensions. Call me cynical, but if I can't trust Uncle Sugar to live up to his blood debt to vets, why should I trust any union or company CEO to honor their commitments when times get tough and they need to balance their books?
Just my 2¢
As for pensions, I get that they aren't all created equal and I don't want to debate specific plans and whether its solvent or not. This is what I don't like about them... If the power brokers in DC are willing to reduce the earned retirements of military vets for short term budgetary gains as they were last year, and then only yielded after significant lobbying efforts... who's to say they wouldn't be willing to slip something into a bill to "help" those organizations who manage other pensions... even union pensions. Call me cynical, but if I can't trust Uncle Sugar to live up to his blood debt to vets, why should I trust any union or company CEO to honor their commitments when times get tough and they need to balance their books?
Just my 2¢
#9930
Line Holder
Joined APC: Mar 2007
Posts: 42
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Interviewed on Oct 7th, tossed into the pool on the 16th and got the call this morning for a Jan 5th class date on the 767.
Thanks to all that took the time to submit info here. Best thread ever!
See some of ya online.
Thanks to all that took the time to submit info here. Best thread ever!
See some of ya online.
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