FedEx Pension Plan
09-09-2006 | 10:17 AM
#1
Thread Starter
New Hire
Joined: Sep 2006
Posts: 9
Likes: 0
FedEx Pension Plan
I did not see anything that addresses the pension formula in this T.A. if the retirement age gets changed to age 65. The T.A. states when a pilot reaches his "normal retirement date" the formula kicks in. It does not specify age 60 or 65. We all know if you retire before age 60 (which is the normal retirement date now) you get penalized 3% for every year early. If they change the retirement age to 65 (which will become the new retirement date) do we take a 3% a year hit if we retire at age 60? The company must know it's coming because it is addressed in the LTD section and states you will get benefits there till age 65 now instead of 60. I can't seem to find anywhere that we can still retire at age 60 without taking a hit if the age 60 rule is changed to 65. Anybody know?
09-09-2006 | 10:33 AM
#2
Gets Weekends Off
Joined: Jan 2006
Posts: 2,838
Likes: 0
I did not see anything that addresses the pension formula in this T.A. if the retirement age gets changed to age 65. The T.A. states when a pilot reaches his "normal retirement date" the formula kicks in. It does not specify age 60 or 65. We all know if you retire before age 60 (which is the normal retirement date now) you get penalized 3% for every year early. If they change the retirement age to 65 (which will become the new retirement date) do we take a 3% a year hit if we retire at age 60? The company must know it's coming because it is addressed in the LTD section and states you will get benefits there till age 65 now instead of 60. I can't seem to find anywhere that we can still retire at age 60 without taking a hit if the age 60 rule is changed to 65. Anybody know?
09-09-2006 | 11:32 AM
#3
Gets Weekends Off
Joined: Aug 2005
Posts: 980
Likes: 0
From: Retired
I did not see anything that addresses the pension formula in this T.A. if the retirement age gets changed to age 65. The T.A. states when a pilot reaches his "normal retirement date" the formula kicks in. It does not specify age 60 or 65. We all know if you retire before age 60 (which is the normal retirement date now) you get penalized 3% for every year early. If they change the retirement age to 65 (which will become the new retirement date) do we take a 3% a year hit if we retire at age 60? The company must know it's coming because it is addressed in the LTD section and states you will get benefits there till age 65 now instead of 60. I can't seem to find anywhere that we can still retire at age 60 without taking a hit if the age 60 rule is changed to 65. Anybody know?
09-09-2006 | 11:41 AM
#4
Gets Weekends Off
Joined: Apr 2006
Posts: 4,304
Likes: 0
From: MD-11 Captain
The last Tiger contract?*!
And the Eastern, PanAm, Braniff, Ozark, (old UAL, DAL, US, NW) ..... contracts all had good stuff in them also. And what they used to have has no bearing on our current contract.
Come on George ... say something constructive for a change. If you're not part of the slution, you are part of the problem. Instead of bitching about ALPA ALL the time, how about volunteering your VAST expertise(oh wise one) and making the union better.
But, as always, thanks for your insightful input.
Regards,
Mark
PS, how long till you turn 60 anyway?
Last edited by MaydayMark; 09-09-2006 at 05:36 PM.
09-09-2006 | 11:43 AM
#5
Gets Weekends Off
Joined: Jul 2006
Posts: 257
Likes: 0
From: A300 Captain
Thread
Thread Starter
Forum
Replies
Last Post
