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Originally Posted by JohnnyViper
(Post 955802)
Just voted. IN FAVOR means in favor of it not passing right?
I don't think so (I hope you are joking?). The way I read it ... in FAVOR of the TA - or - AGAINST the TA Anybody else reading this differently? :eek: |
Originally Posted by msduckslyr
(Post 955626)
You're darn right we want improvements to retirement! Increase the B Fund and take away the penalty of retiring before age 60 but with 25 years of service. After 25 years of service, no matter what your age, you should be able to retire penalty free!
I have no idea what the change to the FAA mandated retirement age does to this section. Looks like we are fighting the IRS and not the company. I guess if I really cared I could start digging in to that law but it sounds to me like we need to fight for maintaining age 60 before it reverts to age 62. |
Originally Posted by MaydayMark
(Post 955805)
I don't think so (I hope you are joking?).
The way I read it ... in FAVOR of the TA - or - AGAINST the TA Anybody else reading this differently? :eek: |
Originally Posted by Flyinhigh
(Post 955820)
I am no tax lawyer, but a little quick research into the Pilot Benefit Book referenced The Internal Revenue Code Section 415 for retirement age. I looked up this section of the IRC and found under Section 415(b)(9)(B) "Special Rules for Commercial Airline Pilots." This paragraph referenced me back to Section 415(b)(2)(C) which basically said you will get a reduced benefit if you retire before age 60. There were also some references to age 62 which were replaced with the age 60 wording for Commercial Airline Pilots. Then my head exploded.
I have no idea what the change to the FAA mandated retirement age does to this section. Looks like we are fighting the IRS and not the company. I guess if I really cared I could start digging in to that law but it sounds to me like we need to fight for maintaining age 60 before it reverts to age 62. That's covered by our contract. The FAA changed the "regulated" age --- that's the max age you can fly in a window seat. The terms are NOT synonymous. The company cannot change the retirement age unilaterally --- we would have to agree to it. |
Originally Posted by DLax85
(Post 955863)
The FAA does not control, and therefore did not change the "retirement" age.
That's covered by our contract. The FAA changed the "regulated" age --- that's the max age you can fly in a window seat. The terms are NOT synonymous. The company cannot change the retirement age unilaterally --- we would have to agree to it. From what I read in the IRC section 415, we can't get them to give an increased benefit prior to age 60. This is not the company but the Federal Code that sets your benefit prior to age 60. |
Leverage: From Merriam Websters dictionary-
Definition of LEVERAGE 1 : the action of a lever or the mechanical advantage gained by it 2 : power, effectiveness <trying to gain more political leverage> 3 : the use of credit to enhance one's speculative capacity See leverage defined for English-language learners » Examples of LEVERAGE The union's size gave it leverage in the labor contract negotiations. The player's popularity has given him a great deal of leverage with the owners of the team. I used the leverage of the bar and a wooden block to pry the rock out of the hole. |
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